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PROBLEM Irina needs to put together the cash budget for quarter two, but she can't find the bank statement listing the required minimum balance. The bank only allows withdrawals from the company's line of credit in specified increments. She knows she has to consider that requirement when determining any budgeted financing, so she looks at the previous quarter's cash budget to understand the financing. She finds the following information on the quarter 1 budget and from the bank agreement. Beginning cash balance Budgeted cash receipts Budgeted cash disbursements Budgeted financing Line of credit withdrawal increments $ 12,000 210,500 218,500 5,000 1,000 Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. How much is the cash surplus or deficiency? Amount How much is the required minimum balance? Required minimum balance

PROBLEM Irina needs to put together the cash budget for quarter two, but she can't find the bank statement listing the required minimum balance. The bank only allows withdrawals from the company's line of credit in specified increments. She knows she has to consider that requirement when determining any budgeted financing, so she looks at the previous quarter's cash budget to understand the financing. She finds the following information on the quarter 1 budget and from the bank agreement. Beginning cash balance Budgeted cash receipts Budgeted cash disbursements Budgeted financing Line of credit withdrawal increments $ 12,000 210,500 218,500 5,000 1,000 Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. How much is the cash surplus or deficiency? Amount How much is the required minimum balance? Required minimum balance

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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PROBLEM Irina needs to put together the cash budget for quarter two, but she can't find the bank statement listing the required minimum balance. The bank only allows withdrawals from the company's line of credit in specified increments. She knows she has to consider that requirement when determining any budgeted financing, so she looks at the previous quarter's cash budget to understand the financing. She finds the following information on the quarter 1 budget and from the bank agreement. Beginning cash balance Budgeted cash receipts Budgeted cash disbursements Budgeted financing Line of credit withdrawal increments $ 12,000 210,500 218,500 5,000 1,000 Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. How much is the cash surplus or deficiency? Amount How much is the required minimum balance? Required minimum balance
Transcribed Image Text:PROBLEM Irina needs to put together the cash budget for quarter two, but she can't find the bank statement listing the required minimum balance. The bank only allows withdrawals from the company's line of credit in specified increments. She knows she has to consider that requirement when determining any budgeted financing, so she looks at the previous quarter's cash budget to understand the financing. She finds the following information on the quarter 1 budget and from the bank agreement. Beginning cash balance Budgeted cash receipts Budgeted cash disbursements Budgeted financing Line of credit withdrawal increments $ 12,000 210,500 218,500 5,000 1,000 Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. How much is the cash surplus or deficiency? Amount How much is the required minimum balance? Required minimum balance
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