Introduction To Managerial Accounting
8th Edition
ISBN: 9781259917066
Author: BREWER, Peter C., Garrison, Ray H., Noreen, Eric W.
Publisher: Mcgraw-hill Education,
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 8, Problem 11E
A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $5,000 to start each quarter.
Required:
Fill in the missing amounts in the above table.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Exercise 7 (Cash Budget Analysis)
A cash budget, by quarters, is given below for a retail company. (000 omitted).
The company requires a minimum cash balance of P5,000 to start each quarter.
Quarter
1
2
3
4
Year
Cashbalance,beginning..
P9
P ?
P ?
P?
P?
Add collectionsfromcustomers....
?
?
125
?
391
Totalcash available...
85
?
?
Less disbursements:
Purchaseofinventory.
40
58
?
32
Operatingexpenses.
42
54
?
180
Equipmentpurchases..
10
8
8
36
Dividends...
2
2
2
2
?
Totaldisbursement..
110
?
?
?
Excess (deficiency) of cash available
Ordisbursements....
(3)
30
?
?
Financing:
Borrowings..
?
20
Repayments (including interest)*..
(?)
(7)
(?)
Total financing...
?
?
(?)
(?)
Cash balance, ending....
P ?
P ?
P ?
P ?
P?
*Interest will total P4, 000 for the year.
Required:
Fill in the missing amounts in the table above.
ces
A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at
least $10,000 to start each quarter.
Required:
Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by
a minus sign.)
Cash balance, beginning
Add collections from customers
Total cash available
Less disbursements.
Purchase of inventory
Selling and administrative expenses
Equipment purchases
Dividends
Total disbursements
Excess (deficiency) of cash available over disbursements
Financing:
Borrowings
Repayments (including interest) *
Total financing
Cash balance, ending
*Interest will total $1,000 for the year.
$
1
9
71
80
50
13
2
(5)
Quarter (000 omitted)
2
3
60
45
9
2
116
16
111
30
25
2
12
4
34
2
(30)
(000 omitted)
Year
389
119
57
Hardev
Chapter 8 Solutions
Introduction To Managerial Accounting
Ch. 8 - What is a budget? What is budgetary control?Ch. 8 - Prob. 2QCh. 8 - What is meant by the term responsibility...Ch. 8 - What is a master budget? Briefly describe its...Ch. 8 - Why is the sales forecast the starting point in...Ch. 8 - “As a practical matter, planning and control mean...Ch. 8 - Prob. 7QCh. 8 - What is a self-imposed budget? What are the major...Ch. 8 - How can budgeting assist a company in planning its...Ch. 8 - Prob. 10Q
Ch. 8 - The Excel worksheet form that appears below is to...Ch. 8 - The Excel worksheet form that appears below is to...Ch. 8 - Morganton Company makes one product and ¡t...Ch. 8 - Prob. 2F15Ch. 8 - Prob. 3F15Ch. 8 - Prob. 4F15Ch. 8 - Morganton Company makes one product and it...Ch. 8 - Prob. 6F15Ch. 8 - Prob. 7F15Ch. 8 - Prob. 8F15Ch. 8 - Morganton Company makes one product and ¡t...Ch. 8 - Morganton Company makes one product and ¡t...Ch. 8 - Prob. 11F15Ch. 8 - Morganton Company makes one product and ¡t...Ch. 8 - Morganton Company makes one product and ¡t...Ch. 8 - Morganton Company makes one product and ¡t...Ch. 8 - Morganton Company makes one product and ¡t...Ch. 8 - Schedule of Expected Cash Collections LOB-2 Silver...Ch. 8 - Down Under Products, Ltd., of Australia has...Ch. 8 - Direct Materials Budget LOB-4 Three grams of musk...Ch. 8 - Direct Labor Budget LOB-5 The production manager...Ch. 8 - Manufacturing Overhead Budget L.08—6 The direct...Ch. 8 - Weller Company’s budgeted unit sales for the...Ch. 8 - Cash Budget LOB—8 Garden Depot is a retailer that...Ch. 8 - Gig Harbor is the wholesale distributor of a small...Ch. 8 - The management of Mecca copy, a photocopying...Ch. 8 - Production and Direct Materials Budgets LO8—,...Ch. 8 - Cash Budget Analysis LOB—8 A cash budget, by...Ch. 8 - Prob. 12ECh. 8 - Schedules of Expected Cash Collections and...Ch. 8 - Sales and Production Budgets L08—2, L08—3 The...Ch. 8 - Direct Labor and Manufacturing Overhead Budgets...Ch. 8 - Direct Materials and Direct Labor Budgets LOB—4,...Ch. 8 - Cash Flows; Budgeted Income Statement and Balance...Ch. 8 - Cash Flows; Budgeted Income Statement and Balance...Ch. 8 - Cash Budget: Income Statement: Balance Sheet...Ch. 8 - Cash Budget; Income Statement: Balance Sheet;...Ch. 8 - Schedules of Expected Cash Collections and...Ch. 8 - Evaluating a Company’s Budget Procedures LOB—1...Ch. 8 - Prob. 23PCh. 8 - Cash Budget with Supporting Schedules L08-2,...Ch. 8 - Prob. 25PCh. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - Prob. 28PCh. 8 - Completing a Master Budget LOB—2, LO8—4, LO8—7,...Ch. 8 - Prob. 30PCh. 8 - Completing a Master Budget LOB-2, LOB-4, LOB-7,...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- h1arrow_forwardFast answer and good reviewarrow_forwardCash Budget Analysis A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $5,000 to start each quarter. Required: Fill in the missing amounts in the above table.arrow_forward
- Please do not give solution in image format thankuarrow_forwardProblem 5 Prepare a cash budget by month for the month quarter ending September 30, 2009, from the following data obtained from the Peninsula Co. Support your solution with schedules of estimated receipts & payments. August P 16,000 150,000 120,000 18,000 2,000 July P 12,000 110.000 90,000 Operating Expenses 15,000 September P 18,000 120,000 110,000 16,000 Cash sales Credit sales Purchases Interest expense Credit are collected 50% in the month of sales. 40% in the month following, 8% in the second month following and 2% uncollectible. Credit sales for May and June are expected to be P100,000 and P90,000 respectively. Purchases of merchandise, all on account are paid 60% in the month of purchase and 40% in the month fallowing. Purchase for June are estimated at 80,000 are paid in the month incurred. Cash balance on June 30, 2009 is P27,000.arrow_forwardQUESTION 1 Which of the following statements is false about cash budgets? O Cash receipts are calculated by adding up all the cash inflows in a given month O When calculating the cash budget the firm must consider many aspects such as, cash receipts, cash expenses, minimum desired cash balance, and previous loans. O Cash receipts include sales, investment income and interest expenses. All of the above are true QUESTION 2 Based on the data below calculate the company's combined cost? Annual requirements = 7500 units Ordering cost = BD 12 Holding cost BD 0.5 O125 300 45000 150 0000arrow_forward
- Olson Company Olson Company prepared a cash budget by quarters for the upcoming year. Missing data amounts are indicated with question marks or lower case letters; these lower case letters will be referred to in the questions that follow. Olson requires a minimum balance of $10,000 to start a quarter. All data are in thousands. Olson Corporation Cash Budget QTR 1 QTR 2 QTR 3 QTR 4 Cash balance, beginning $16 $e $13 $10 Add collections from customers a 70 67 80 Total cash available ? ? 80 90 Less disbursements: Purchase of inventory 31 c 40 35 Operating expenses 25 22 ? 15 Equipment purchases 10 14 19 0 Dividends 0 6 0 5 Total disbursements 66 ? f 55 Excess (deficiency) of cash available over disbursements 7 17 (2) 35 Financing: Borrowings: b -- 12 -- Repayments (including interest) -- d -- (12) Total financing ? ? 12 (12) Cash balance, ending $10 $? $10 $23 A) Refer to Olson Company. The collections from customers during the…arrow_forwardPlease do not give solution in image format thankuarrow_forwardbapuarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,
Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSON
Intermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill Education
Financial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education
Responsibility Accounting| Responsibility Centers and Segments| US CMA Part 1| US CMA course; Master Budget and Responsibility Accounting-Intro to Managerial Accounting- Su. 2013-Prof. Gershberg; Author: Mera Skill; Rutgers Accounting Web;https://www.youtube.com/watch?v=SYQ4u1BP24g;License: Standard YouTube License, CC-BY