Vaughn, Inc. prepared the following cash budget for the fourth quarter. Fill in the missing amounts, assuming that Vaughn desires to maintain a $15.000 minimum monthly cash balance and all equipment was purchased during December. Any required borrowings and repayments must be made in even increments of $1,000. (Enter answers in necessary fields only. Leave other fields blank. Do not enter O.) Beginning cash balance Collections from sales Total cash available Less disbursements Materials purchases Direct labor Manufacturing overhead Selling & administrative expenses Equipment purchase Dividends Total disbursements Excess (deficiency) of cash Minimum cash balance Cash available (needed) Financing: Borrowings Repayments Interest Total financing Ending cash balance October 50,000 66,500 5,000 20,000 28,500 66,000 15.000 -14,500 $15,500 November $15,500 $ 93,500 10,000 6,000 24,000 25,000 28.500 15,000 -150 -15,150 $13,350 $ December 120,000 14,000 8.000 22.000 5,000 15,000 9,000 Quarter $16.500 234,650 36,500 19,000 15.000 5,000 15,000 -15,000 -150 -150
Vaughn, Inc. prepared the following cash budget for the fourth quarter. Fill in the missing amounts, assuming that Vaughn desires to maintain a $15.000 minimum monthly cash balance and all equipment was purchased during December. Any required borrowings and repayments must be made in even increments of $1,000. (Enter answers in necessary fields only. Leave other fields blank. Do not enter O.) Beginning cash balance Collections from sales Total cash available Less disbursements Materials purchases Direct labor Manufacturing overhead Selling & administrative expenses Equipment purchase Dividends Total disbursements Excess (deficiency) of cash Minimum cash balance Cash available (needed) Financing: Borrowings Repayments Interest Total financing Ending cash balance October 50,000 66,500 5,000 20,000 28,500 66,000 15.000 -14,500 $15,500 November $15,500 $ 93,500 10,000 6,000 24,000 25,000 28.500 15,000 -150 -15,150 $13,350 $ December 120,000 14,000 8.000 22.000 5,000 15,000 9,000 Quarter $16.500 234,650 36,500 19,000 15.000 5,000 15,000 -15,000 -150 -150
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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