Munoz Medical Clinic has budgeted the following cash flows: Cash receipts - $110,000 Cash payments For inventory purchases - $95,000 For S&A expenses - $36,000 For interest expense - $800 Munoz Medical had a cash balance of $13,000 on January 1. The company desires to maintain a cash cushion of $9,000. Funds are assumed to be borrowed and repaid on the last day of each month. How much does the company need to borrow at the end of January to maintain its cash cushion?
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- What is the amount of budgeted cash payments if purchases are budgeted for $420,000 and the beginning and ending balances of accounts payable are $95,000 and $92,000, respectively?What is the amount of budgeted cash payments if purchases are budgeted for $190,500 and the beginning and ending balances of accounts payable are $21,000 and $25,000, respectively?Baird Medical Clinic has budgeted the following cash flows. Cash receipts Cash payments For inventory purchases For S&A expenses Cash Budget Section 1: Cash Receipts January $ 102,000 Total cash available Section 2: Cash Payments Total budgeted disbursements Section 3: Financing Activities 91,000 32,000 Baird Medical had a cash balance of $9,000 on January 1. The company desires to maintain a cash balance of $7,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 3 percent per month. Repayments may be made in any amount available. Baird pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this year's quarterly results. Required Prepare a cash budget. Note: Round Intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage should be indicated with a minus sign. January S 0 0 0 February $…
- The accountant for Jean's Dress Shop prepared the following cash budget. Jean's desires to maintain a cash cushion of $10,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month. Required a. Complete the cash budget by filling in the missing amounts. b. Determine the amount of net cash flows from operating activities Jean's will report on the third quarter pro forma statement of cash flows. c. Determine the amount of net cash flows from financing activities Jean's will report on the third quarter pro forma statement of cash flows. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the cash budget by filling in the missing amounts. (Any shortages or repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) Cash Budget Section 1: Cash receipts Beginning cash balance Add cash receipts Total cash…The accountant for Jean’s Dress Shop prepared the following cash budget. Jean’s desires to maintain a cash cushion of $10,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month. Required Complete the cash budget by filling in the missing amounts. Determine the amount of net cash flows from operating activities Jean’s will report on the third quarter pro forma statement of cash flows. Determine the amount of net cash flows from financing activities Jean’s will report on the third quarter pro forma statement of cash flows.The accountant for Jean’s Dress Shop prepared the following cash budget. Jean’s desires to maintain a cash cushion of $10,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month. Required Complete the cash budget by filling in the missing amounts. Determine the amount of net cash flows from operating activities Jean’s will report on the third quarter pro forma statement of cash flows. Determine the amount of net cash flows from financing activities Jean’s will report on the third quarter pro forma statement of cash flows.a. Cash Budget July August September Section 1: Cash receipts Beginning cash balance $25,000 Add cash receipts 90,000 100,000 120,300 Total cash available 115,000 Section 2: Cash payments For inventory purchases 82,750 70,115 87,076 For S&A expenses 27,250 30,280 30,716 For interest…
- The accountant for Baird's Dress Shop prepared the following cash budget. Baird's desires to maintain a cash balance of $24,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 1 percent per month. Required a. Complete the cash budget by filling in the missing amounts. b. Determine the amount of net cash flows from operating activities Baird's will report on the third quarter pro forma statement of cash flows. c. Determine the amount of net cash flows from financing activities Baird's will report on the third quarter pro forma statement of cash flows. Complete this question by entering your answers in the tabs below. Req A Req B and C Complete the cash budget by filling in the missing amounts. Note: Any shortages or repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount. Cash Budget July August September Section 1: Cash receipts Beginning cash balance…The accountant for Munoz’s Dress Shop prepared the following cash budget. Munoz’s desires to maintain a cash cushion of $24,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 3 percent per month. Required Complete the cash budget by filling in the missing amounts. Determine the amount of net cash flows from operating activities Munoz’s will report on the third quarter pro forma statement of cash flows. Determine the amount of net cash flows from financing activities Munoz’s will report on the third quarter pro forma statement of cash flows.The accountant for Stuarts Dress Shop prepared the following cash budget. Stuarts desires to maintain a cash balance of $19,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 2 percent per month. Required Complete the cash budget by filling in the missing amounts.Determine the amount of net cash flows from operating activities Stuarts will report on the third quarter pro forma statement of cash flows.Determine the amount of net cash flows from financing activities Stuarts will report on the third quarter pro forma statement of cash flows.
- Fairview Medical Supply has applied for a loan. First American Bank has requested a budgeted balance sheet as of April 30, and a combined cash budget for April. As Fairview Medical Supply's controller, you have assembled the following information: a. March 31 equipment balance, $52,700; accumulated depreciation, $41,100. b. April capital expenditures of $42,700 budgeted for cash purchase of equipment. c. April depreciation expense, $500. d. Cost of goods sold, 60% of sales. e. Other April operating expenses, including income tax, total $13,400, 30%of which will be paid in cash and the remainder accrued at April 30. f. March 31 owners' equity, $93,600. g. March 31 cash balance, $40,100. h. April budgeted sales, $91,000, 70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May. i. April cash collections on March sales, $29,200. j. April cash payments of March 31 liabilities incurred…Please answer with excel forumlas and step by step explanations. Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. Cash Receipts Cash payments January $ 569,000 $ 508,000 February 455,000 425,000 March 505,000 600,000 Kayak requires a minimum cash balance of $38,000 at each month-end. Loans taken to meet this requirement charge 0.7% interest per month, paid at each month-end. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $38,000 is used to repay loans at month-end. The company has a cash balance of $38,000 and a loan balance of $76,000 at January 1. Prepare monthly cash budgets for January, February, and March.Tamarisk Garden Center has the following cash budget information available for the month of August: Beginning cash balance Cash receipts from sales and collections on account Collection of note receivable and interest Cash disbursements for operating expenses The company would have to $129,000 eTexthonk and Media 115,000 8,100 If the company has a policy of maintaining an end of the month cash balance of $120,000, determine the amount the company would have to borrow or the amount of excess cash it will have to invest in August. 96,400 SUPPORT
