Accounting for Governmental & Nonprofit Entities
17th Edition
ISBN: 9780078025822
Author: Jacqueline L. Reck James E. Rooks Distinguished Professor, Suzanne Lowensohn, Earl R Wilson
Publisher: McGraw-Hill Education
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Question
Chapter 11, Problem 22EP
To determine
Identify whether the given standards are GAAS standards or GAGAS standards.
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General Account
人
es
Total cash receipts
Total cash disbursements
1st Quarter
$ 320,000
$ 372,000
2nd Quarter
$ 440,000
$ 342,000
3rd Quarter
$ 370,000
4th Quarter
$ 390,000
$ 332,000
$ 352,000
The company's beginning cash balance for next year will be $27,000. The company requires a minimum cash balance of $10,000 and
may borrow money at the beginning of any quarter and may repay any part of its loans at the end of any quarter. Interest payments,
based on a quarterly interest rate of 3%, are due on any principal at the time it is repaid. For simplicity, assume interest is not
compounded.
Required:
Prepare the company's cash budget for next year.
Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign.
Beginning cash balance
Total cash receipts
Total cash available
Total cash disbursements
Excess (deficiency) of cash available over disbursements
Financing:
Borrowings
Repayments
Interest
Total financing
Ending cash balance
L
Garden Depot
Cash Budget
1st Quarter
2nd Quarter…
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Chapter 11 Solutions
Accounting for Governmental & Nonprofit Entities
Ch. 11 - Prob. 1QCh. 11 - Prob. 2QCh. 11 - Prob. 3QCh. 11 - Prob. 4QCh. 11 - Prob. 5QCh. 11 - Prob. 6QCh. 11 - Prob. 7QCh. 11 - Prob. 8QCh. 11 - Prob. 9QCh. 11 - Prob. 10Q
Ch. 11 - Background. Lake View Mental Health Affiliates, a...Ch. 11 - Prob. 12CCh. 11 - Prob. 13CCh. 11 - Prob. 14CCh. 11 - Prob. 15CCh. 11 - Prob. 16CCh. 11 - Prob. 17CCh. 11 - Prob. 19.1EPCh. 11 - Prob. 19.2EPCh. 11 - Prob. 19.3EPCh. 11 - Prob. 19.4EPCh. 11 - Prob. 19.5EPCh. 11 - Prob. 19.6EPCh. 11 - Prob. 19.7EPCh. 11 - Prob. 19.8EPCh. 11 - Prob. 19.9EPCh. 11 - Prob. 19.10EPCh. 11 - Prob. 21EPCh. 11 - Prob. 22EPCh. 11 - Prob. 23EP
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