EBK FINANCIAL ACCOUNTING: AN INTRODUCTI
14th Edition
ISBN: 8220100453953
Author: Francis
Publisher: YUZU
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- 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…arrow_forwardDon't use ai given answer accounting questionsarrow_forwardSUBJECT:- GENERAL ACCOUNT Noninventoriable costs are charged against. in which the revenue is earned. a. sales b. production c. managerial d. investment revenue in the periodarrow_forward
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