Presented below are partial October, November, and December cash budgets for Holidays Events. Loans are obtained in increments of $1,000 at the start of each month to maintain a minimum end-of-month balance of $12,000. Interest is one percent simple interest (no compounding) per month, payable when the loan is repaid. Repayments are made as soon as possible, subject to the minimum end-of-month balance. Complete the short-term financing section of the cash budget and all missing figures. Use a negative sign with answers to indicate a cash disbursement or a negative ending balance. HOLIDAY EVENTS Partial Cash Budgets For the Months of October, November, and December October November December Total Cash balance, beginning $26,000 Answer Answer Answer Collection on sales 38,000 43,000 83,000 Answer Cash available for operations Answer Answer Answer Answer Disbursements for operations (53,000) (63,000) (40,000) Answer Ending cash before borrowings or replacements Answer Answer Answer Answer Short-term finance: New loans Answer Answer Answer Answer Repayments Answer Answer Answer Answer Interest Answer Answer Answer Answer Cash balance, ending Answer Answer Answer Answer
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Presented below are partial October, November, and December cash budgets for Holidays Events.
Loans are obtained in increments of $1,000 at the start of each month to maintain a minimum end-of-month balance of $12,000. Interest is one percent simple interest (no compounding) per month, payable when the loan is repaid. Repayments are made as soon as possible, subject to the minimum end-of-month balance.
Complete the short-term financing section of the cash budget and all missing figures.
Use a negative sign with answers to indicate a cash disbursement or a negative ending balance.
| HOLIDAY EVENTS | |||||
|---|---|---|---|---|---|
| Partial Cash Budgets | |||||
| For the Months of October, November, and December | |||||
| October | November | December | Total | ||
| Cash balance, beginning | $26,000 | Answer
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| Collection on sales | 38,000 | 43,000 | 83,000 | Answer
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| Cash available for operations | Answer
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| Disbursements for operations | (53,000) | (63,000) | (40,000) | Answer
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| Ending cash before borrowings or replacements | Answer
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| Short-term finance: | |||||
| New loans | Answer
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| Repayments | Answer
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| Interest | Answer
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| Cash balance, ending | Answer
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