ignment # 4 6 Saved Help Save 3. 1st Quarter $ 180,000 $ 260,000 2nd Quarter $330,000 $ 230,000 3rd Quarter $ 210,000 $ 220,000 4th Quarter $230,000 $ 240,000 Total cash receipts Total cash disbursements The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. ts eBook Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.) Hint Print ferences Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Beginning cash balance $20,000 $ 20,000 Total cash receipts 180,000 330,000 210,000 230,000 950,000 Total cash available 200,000 330,000 210,000 230,000 970,000 Total cash disbursements 260,000 230,000 220,000 240,000 950,000 Excess (deficiency) of cash available over disbursements (60,000) 100,000 (10,000) (10,000) 20,000 Financing 70,000 (70,000) Borrowings 70,000 (70,000) Repayments Interest Total financing 70,000 (70,000) $10,000 $ 30,000 $ (10,000) $ (10,000) Ending cash balance ( Prev 3 of 5 Next > here to search ..
ignment # 4 6 Saved Help Save 3. 1st Quarter $ 180,000 $ 260,000 2nd Quarter $330,000 $ 230,000 3rd Quarter $ 210,000 $ 220,000 4th Quarter $230,000 $ 240,000 Total cash receipts Total cash disbursements The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. ts eBook Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.) Hint Print ferences Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Beginning cash balance $20,000 $ 20,000 Total cash receipts 180,000 330,000 210,000 230,000 950,000 Total cash available 200,000 330,000 210,000 230,000 970,000 Total cash disbursements 260,000 230,000 220,000 240,000 950,000 Excess (deficiency) of cash available over disbursements (60,000) 100,000 (10,000) (10,000) 20,000 Financing 70,000 (70,000) Borrowings 70,000 (70,000) Repayments Interest Total financing 70,000 (70,000) $10,000 $ 30,000 $ (10,000) $ (10,000) Ending cash balance ( Prev 3 of 5 Next > here to search ..
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:ignment # 4 6
Saved
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3.
1st Quarter
$ 180,000
$ 260,000
2nd Quarter
$330,000
$ 230,000
3rd Quarter
$ 210,000
$ 220,000
4th Quarter
$230,000
$ 240,000
Total cash receipts
Total cash disbursements
The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance
of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any
amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments
are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded.
ts
eBook
Required:
Prepare the company's cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.)
Hint
Print
ferences
Garden Depot
Cash Budget
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Year
Beginning cash balance
$20,000
$ 20,000
Total cash receipts
180,000
330,000
210,000
230,000
950,000
Total cash available
200,000
330,000
210,000
230,000
970,000
Total cash disbursements
260,000
230,000
220,000
240,000
950,000
Excess (deficiency) of cash available over disbursements
(60,000)
100,000
(10,000)
(10,000)
20,000
Financing
70,000
(70,000)
Borrowings
70,000
(70,000)
Repayments
Interest
Total financing
70,000
(70,000)
$10,000 $
30,000 $ (10,000) $ (10,000)
Ending cash balance
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