The accountant for Baird's Dress Shop prepared the following cash budget. Baird's desires to maintain a cash balance of $24,000 atthe end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of1 percent per month.Requireda. Complete the cash budget by filling in the missing amounts.b. Determine the amount of net cash flows from operating activities Baird's will report on the third quarter pro forma statement of cashflows.c. Determine the amount of net cash flows from financing activities Baird's will report on the third quarter pro forma statement of cashflows.Complete this question by entering your answers in the tabs below.Req AReq B and CComplete the cash budget by filling in the missing amounts.Note: Any shortages or repayments should be indicated with a minus sign. Round your answers to the nearest whole dollaramount.Cash BudgetJulyAugustSeptemberSection 1: Cash receiptsBeginning cash balance$Add cash receipts52,500200,000220,000260,600Total cash available252,500Section 2: Cash paymentsFor inventory purchases175,526150,230184,152For S&A expenses64,50070,56071,432For interest expense0Total budgeted disbursements240,026Section 3: Financing activitiesSurplus (shortage)Borrowing (repayments)Ending cash balance12,47411,526$24,000$ 24,000 $ 24,000

A cash budget is an organization's projection of its expected inflows and expenditures of cash over…

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.

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.

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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