A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of $8,000 to start each quarter. Required: Fill in the missing amounts. Note: Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign. Quarter (000 omitted) (000 omitted) 1 2 3 4 Year Cash balance, beginning $ 6 Add collections from customers 120 415 Total cash available 79 Less disbursements Purchase of inventory 55 65 31 Selling and administrative expenses 45 30 119 Equipment purchases 13 9 30 62 Dividends 2 2 2 2 121 (11) 11 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. 11 (28)

A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of $8,000 to start each quarter. Required: Fill in the missing amounts. Note: Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign. Quarter (000 omitted) (000 omitted) 1 2 3 4 Year Cash balance, beginning $ 6 Add collections from customers 120 415 Total cash available 79 Less disbursements Purchase of inventory 55 65 31 Selling and administrative expenses 45 30 119 Equipment purchases 13 9 30 62 Dividends 2 2 2 2 121 (11) 11 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. 11 (28)

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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! Required information [The following information applies to the questions displayed below.] Built-Tight is preparing its master budget. Budgeted sales and cash payments follow: July $ 56,000 August $ 72,000 September $ 56,000 Budgeted sales Budgeted cash payments for Direct materials 15,560 3,440 19,600 12,840 2,760 16,200 13,160 2,840 16,600 Direct labor Overhead Sales to customers are 20% cash and 80% on credit. Sales in June were $53,500. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $47,000 in cash and $4,400 in loans payable. A minimum cash balance of $47,000 is required. Loans are obtained at the end of any month when the preliminary cash balance is below $47,000. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. Any preliminary cash balance above $47,000 is used to repay loans at month-end. Expenses are paid in the month incurred and consist of sales…
The fourth option is $16,600 needed, below $12,400 available.
Given the following, complete the table Cash Receipts increase by 4% every month. A Cash Disbursements is 60% of the total monthly cash receipts and The minimum cash balance per month is P 60,000. Cash Budget Jan Feb Mar Apr May Jun Cash Receipts P 77,000.00 Less: Cash Disbursements Net Cash Flow P 34,800.00 Add: Beginning Cash Ending Cash Less: Minimum Cash Balance Required Total Financing / Excess Cash Balance
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