Solve for the missing numbers on the cash budget, assuming that the accountant has requested a minimum cash balance of $7,000 at the start of each month.
Q: At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of…
A: Cash budget is one of useful form of budget being prepared in business. It shows expected cash…
Q: Minden Company is a wholesale distributor of premium European chocolates. The company's balance…
A: Hi student Since there are multiple subparts, we will answer only first three subparts. Cash budget…
Q: Bantam Industries has budgeted the following information for March: Cash receipts Beginning cash…
A: Lets understand the basics. Cash budget is prepared by the management to estimate the flow of cash…
Q: Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: The cash budget is a part of the master budget and it is used prepared by the management to estimate…
Q: Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: >Cash Budget is prepared as part of budgeting process. >It is usually the final budget…
Q: Cash budget The monthly cash budgets for the second quarter of 2013 follow($000 omitted) for…
A:
Q: Personal budget At the beginning of the school year, Craig Kovar decided to prepare a cash budget…
A: The cash budget refers to estimating the cash inflows and outflows over a given period of time. This…
Q: Presented below are partial October, November, and December cash budgets for Holidays Events. Loans…
A: A budget is an estimation to determine the income that will be earned and expenses that will be…
Q: Cash budget The controller of Mercury Shoes Inc. instructs you to prepare a monthly cash budget for…
A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…
Q: ces Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received)…
A: CASH BUDGET Cash Budget is a detailed budget of cash income and cash expenditure incorporating both…
Q: Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: The budget is prepared to estimate the requirements for the period. The cash budget is prepared to…
Q: Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: A cash budget is an estimate of a corporation's cash flows for a given time span. A cash budget is…
Q: Use the following information to prepare a cash budget for the month ended January 31 for Garcia…
A: Cash budget shows the estimation of cash inflows and outflows which a firm can generates in the…
Q: The following information was taken from Vaughn Manufacturing’s cash budget for the month of July:…
A: Cash Budget: A cash budget is an estimate of the cash flows that are expected to be generated by an…
Q: Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash…
A:
Q: h month. Interest is charged at the rate of 1 percent per month. Required Complete the cash…
A: A) Cash Budget July August September Total Selection 1: Cash receipts Beginning…
Q: Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: A cash budget helps the business in estimating the flow of cash i.e., inward or outward over a…
Q: yak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: Budget -The process of locating, gathering, and condensing financial data is called a budget. The…
Q: $14,500, accounts receivable of $473,000, inventories of $482,250, and accounts payable of $169,055.…
A: A Cash Budget is a forecast of expected cash receipts & expected cash payments. The Cash Budget…
Q: Personal Budget At the beginning of the school year, Katherine Malloy decided to prepare a cash…
A: Cash Budget: It represents the expected future cash flow over a definite period of time. It is an…
Q: Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: Answer us below:Explanation:Step 1: Step 2: 1. **January:** - Cash Receipts: $525,000 - Cash…
Q: Cash Budget The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash budget…
A: Cash Budget is the estimates of total cash inflows and total cash outflows during a future specific…
Q: Personal Budget At the beginning of the school year, Craig Kovar decided to prepare a cash budget…
A: Cash Budget: Cash Budget is a schedule to record cash inflows and outflows over a period with a view…
Q: Personal budget At the beginning of the school year, Craig Kovar decided to prepare a cash budget…
A: A cash budget is a budget that provides information about the company's projected cash inflows and…
Q: a. Complete the cash budget by filling in the missing amounts
A: Given in the question: Desired to maintain the cash balance of $15,000 at the end of each month and…
Q: Personal Budget At the beginning of the school year, Craig Kovar decided to prepare a cash budget…
A: Answer a:
Q: Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: The cash budget is usually prepared to forecast the future inflow and outflow of the cash. This will…
Q: Todd Enterprises is preparing a cash budget for the second quarter of the coming year. The following…
A: A Cash Budget depicts the cash receipts and cash payments for the period. It helps the company to…
Q: Schedule of Cash Payments Organic Physical Therapy Inc. is planning its cash payments for…
A: Schedule of cash payments is an important part of cash budget which shows how much cash is to be…
Q: Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: Interest on loan for the month of January = $80,000 x 1% = $800 Interest on loan for the month of…
Q: Use the following information to prepare the July cash budget for Acco Company. Ignore the "Loan…
A: The cash budget is prepared to record the cash receipts and cash payments during the period. It…
Q: Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: Lets understand the basics. Management prepares budget for the purpose of determining future profit…
Q: Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: Budget means the expected value of future. Budget will be compared with actual value and variance is…
Q: sh On March 1 of the current year, Spicer Corporation compiled information to prepare a cash budget…
A: The objective of the question is to calculate Spicer Corporation's budgeted cash balance at the end…
Q: c. Prepare a monthly cash budget with borrowings and repayments for January, February, and March.…
A: The cash budget is financial report prepared under budgeting that represents an estimation of cash…
Q: Spartan Industries has budgeted the following information for January Cash Receipts $ 43,400…
A: Interest payment refers to the amount of money paid by a borrower to a lender for the use of…
Q: Messers Company is preparing a cash budget for February. The company has $20,000 cash at the…
A: Cash budget is a kind of budget which was used to plan for expected disbursements and receipts of…
Q: ny budgeted the following cash receipts (excluding cash receipts from loans received) and cash…
A: A cash budget that is created to project monthly cash inflows and outflows is the cash budget (cash…
Q: Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: Key points to note:The company is able to repay its entire loan balance of $60,000 by the end of…
Q: Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and…
A: Cash budget is the statement which is prepared to estimate the cash receipts and cash payments of an…
Q: Prepare Cash Budget from Budgeted Transactions Prepare a cash budget for the month ended May 31,…
A: A cash budget is prepared to estimate the total cash received and total cash disbursement. It is…
Q: k t 3 nt Exercise 20-17 (Aigor Kayak Company budgeted the following cash receipts (excluding cash…
A: A cash budget helps the business in estimating the flow of cash i.e., inward or outward over a…
Q: The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash budget for the next…
A: Cash budget is the forecast showing cash receipts and payments.
Q: repare Cash Budget For 3 Months Brewster Corporation expects the following cash receipts and…
A: Cash budget is an estimation of the cash inflows and outflows for the future period for that…
Q: Newman Medical Clinic has budgeted the following cash flows. January February March $101,000…
A: Budgeting is the process of estimating the revenue, expenses, and cash balances for a specific…
Q: Prepare monthly cash budgets for January, February, and March. (Negative balances and Loan repayment…
A: Lets understand the basics. Management prepare budget in order to estimate profit from the business…
The following cash budget is for the third quarter of this year. Solve for the missing numbers on the cash budget, assuming that the accountant has requested a minimum cash balance of $7,000 at the start of each month. All borrowings, repayments, and investments are made in even $1,000 amounts. No borrowings or investments exist at the beginning of July.
| July | August | September | Total | |
|---|---|---|---|---|
| Beginning cash balance | $7,400 |
|
|
|
| Cash receipts | 16,400 | 20,200 |
|
|
| Total cash available |
|
|
$41,000 | $77,800 |
| Cash disbursements | ||||
| Payments on account |
|
$7,800 | $11,400 |
|
| Wages expense | 10,000 |
|
12,400 | 34,600 |
| 8,000 | 9,200 |
|
26,000 | |
| Total disbursements | $20,600 |
|
$32,600 |
|
| Cash excess (deficiency) |
|
|
|
|
| Minimum cash balance | (7,000) | (7,000) |
|
|
| Cash available (needed) |
|
$(8,800) |
|
$(11,600) |
| Financing | ||||
| Borrowings (repayments) | $4,000 |
|
$(1,000) |
|
| Acquire (sell) investments | - | - |
|
|
| Receive (pay) interest | - | - |
|
(20) |
| Ending cash balance | $7,200 |
|
|
$7,380 |
Step by step
Solved in 3 steps with 1 images
- I need the working solution for the cash balance at the beginning month. Cash Budget The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: September October November Sales $130,000 $156,000 $205,000 Manufacturing costs 55,000 67,000 74,000 Selling and administrative expenses 46,000 47,000 78,000 Capital expenditures _ _ 49,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $10,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in January, and the annual property taxes are paid in December. Of the remainder of the manufacturing costs, 80% are expected to be paid…Cheyenne Company has budgeted the following information for June: Cash receipts Beginning cash balance Cash payments Desired ending cash balance If there is a cash shortage, the company borrows money from the bank. All cash is borrowed at the beginning of the month in $1,000 increments, and interest is paid monthly at 1% on the first day of the following month. The company had no debt before June 1. The amount of interest paid on July 1 would be: Multiple Choice $590. $ 339,000 22,000 382,000 42,000 $476.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 February March $ 519,000 409,000 476,000 $ 459,200 349,200 532,000 Kayak requires a minimum cash balance of $30,000 at each month-end. Loans taken to meet this requirement charge 1%, 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 $30,000 is used to repay loans at month-end. The company has a cash balance of $30,000 and a loan balance of $60,000 at January 1. Prepare monthly cash budgets for January, February, and March. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Beginning cash balance Add: Cash receipts Total cash available Less: Cash payments for Interest on loan…
- 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. January February⚫ March Cash Receipts Cash payments $ 521,000 408,000 457,000 $ 467,800 354,800 522,000 Kayak requires a minimum cash balance of $50,000 at each month-end. Loans taken to meet this requirement charge 1%, 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 $50,000 is used to repay loans at month-end. The company has a cash balance of $50,000 and a loan balance of $100,000 at January 1. Prepare monthly cash budgets for January, February, and March. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.)Prepare Cash Budget For 3 Months Brewster Corporation expects the following cash receipts and disbursements during the first quarter of the year (receipts exclude new borrowings and disbursements exclude interest payments on borrowings since January 1) January February March $280,000 $300,000 $270,000 Cash receipts Cash disbursements 260,000 340,000 280,000 The expected cash balance at January 1, is $62,000. Brewster wants to maintain a cash balance at the end of each month of at least $60,000. Short-term borrowings at 1% interest per month will be used to accomplish this, if necessary. Borrowings (in multiples of $1,000) will be made at the beginning of the month in which they are needed, with interest for that month paid at the end of the month. Prepare a cash budget for the quarter ended March 31. Brewster Corporation Cash Budget for the Quarter Ended March 31 January Beginning cash balance Cash receipts Short-term borrowings Cash available Cash disbursements Interest payment Total…Tomo, Inc. has prepared its third quarter budget and provided the following data: Jul $49,000 Aug $39,800 Sep $47,900 Cash collections Cash payments: Purchases of direct materials Operating expenses Capital expenditures 17,900 11,100 0 The cash balance on June 30 is projected to be $4,600. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 5%. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of $5,000 whenever there is surplus cash. Calculate the final projected cash balance at the end of August taking into consideration all the financing transactions. 31,000 12,100 13,700 O A. $46600 OB. $-8842 OC. $15000 O D. $6158 21,800 8,700 24,900
- Personal Budget At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: Cash balance, September 1 (from a summer job) $8,860 Purchase season football tickets in September 120 Additional entertainment for each month 310 Pay fall semester tuition in September 4,800 Pay rent at the beginning of each month 430 Pay for food each month 240 Pay apartment deposit on September 2 (to be returned December 15) 600 Part-time job earnings each month (net of taxes) 1,100 a. Prepare a cash budget for September, October, November, and December. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments. Craig Kovar Cash Budget For the Four Months Ending December 31 September…Schedule of cash payments for a service company EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January-March). The Accrued Expenses Payable balance on January 1 is $26,200. The budgeted expenses for the next three months are as follows: January February March Salaries $60,300 $73,400 $81,200 Utilities 5,000 5,500 6,600 Other operating expenses 46,400 50,600 $5,700 Total $111,700 $129,500 $143,500 Other operating expenses include $3,300 of monthly depreciation expense and $800 of monthly insurance expense that was prepaid for the year on May 1 of the previous year of the remaining expenses, 80% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for operations for January, February, and March. EastGate Physical Therapy Inc. Schedule of Cash Payments for…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.
- 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 $ 526,000 $ 472,800 February 412,000 358,800 March 459,000 528,000 Kayak requires a minimum cash balance of $30,000 at each month-end. Loans taken to meet this requirement charge 1%, 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 $30,000 is used to repay loans at month-end. The company has a cash balance of $30,000 and a loan balance of $60,000 at January 1. Prepare monthly cash budgets for January, February, and March. Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign.Newman Medical Clinic has budgeted the following cash flows. January February March $109,000 $115,000 $135,000 Cash receipts Cash payments For inventory purchases For S&A expenses Newman Medical had a cash balance of $12,500 on January 1. The company desires to maintain a cash cushion of $8,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 1 percent per month. Repayments may be made in any amount available. Newman 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. (Any repayments/shortage should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) 94,500 76,500 89,500 35,500 36,500 31,500 Cash Budget Cash available Less: Cash payments Total budgeted payments Payments minus receipts Financing Activity $ EA January 0 0…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. January February March Cash Receipts Cash payments $ 525,000 400,000 450,000 $ 475,000 350,000 525,000 Kayak requires a minimum cash balance of $30,000 at each month-end. Loans taken to meet this requirement charge 1% 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 $30,000 is used to repay Ibans at month-end. The company has a cash balance of $30,000 and a loan balance of $60,000 at January 1. Prepare monthly cash budgets for January, February, and March Note: Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Beginning cash balance Add Cash receipts Total cash available Less Cash payments for Interest on loan Total…
