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. (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 Quarter 1 Quarter 2 (000 omitted) (000 omitted) $ 6 71 35 8 2 (2) 45 30 8 2 85 Quarter 3 (000 omitted) 96 30 10 2 11 Quarter 4 (000 omitted) 35 2 Year (000 omitted) 323 113 36

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. (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 Quarter 1 Quarter 2 (000 omitted) (000 omitted) $ 6 71 35 8 2 (2) 45 30 8 2 85 Quarter 3 (000 omitted) 96 30 10 2 11 Quarter 4 (000 omitted) 35 2 Year (000 omitted) 323 113 36

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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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.
Exercise 8-11 (Algo) Cash Budget Analysis [LO8-8] A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of $3,000 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. 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 8 77 45 7 2 (2) Quarter (000 omitted) 2 3 55 32 8 2 97 7 106 30 20 2 7 4 29 2 (000 omitted) Year 367 111 45
Exercise 8-11 (Algo) Cash Budget Analysis [LO8-8] A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of $3,000 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. Cash balance, beginning Add collections from customers Total cash available Less disbursements: Quarter (000 omitted) (000 omitted) 2 3 4 Year 8 94 110 400 Purchase of inventory 49 49 59 33 33 Selling and administrative expenses 45 30 130 Equipment purchases 12 9 24 55 Dividends 2 2 2 2 Total disbursements 115 Excess (deficiency) of cash available over (1) 5 disbursements Financing: Borrowings Repayments (including interest) * Total financing Cash balance, ending *Interest will total $1,000 for the year. 17 (20)
Exercise 8-11 (Algo) Cash Budget Analysis [LO8-8] Assessment Tool iFrame A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $7,000 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 Quarter 1 (000 omitted) $ Quarter 4 (000 omitted) 35 2 (26) Year (000 omitted) 401 117 59
Check my work A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $3,000 to start each quarter. Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.) Quarter 1 Quarter 2 (000 omitted) (000 omitted) 8 Quarter 3 (000 omitted) Quarter 4 (000 omitted) Year (000 omitted) Cash balance, beginning $ Add collections from customers 120 Total cash available 92 Less disbursements: Purchase of inventory 53 63 29 Selling and administrative expenses 45 30 Equipment purchases 8 28 Dividends 2 Total disbursements Excess (deficiency) of cash available over disbursements (1) Financing: Borrowings Repayments (including interest)* Total financing Cash balance, ending *Interest will total $1,000 for the year. 9 2 119 13 2 9 2 (12) 420 127 55
A cash budget, by quarters, is given below for a retail company. (000 omitted) company requires a minimum cash balance of at least Br 5,000to start each quarter. Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Cash balance, beginning 6 ? ? ? ? Add collections from customers ? ? 96 ? 323 Total cash available 71 ? ? ? ? Less disbursement: Purchase inventory 35 45 ? 35 ? Operating expense ? 30 30 ? 113 Equipment purchase 8 8 10 ? 36 Dividends 2 2 2 2 ? Total disbursement ? 85 ? ? ? Excess (deficiency) of each cash (2) ? 11 ? ? Financing: Borrowing ? 15 - - ? Repayments (including interest) - - ? (17) ? Total financing ? ? ? ? ? Cash balance, ending ? ? ? ? ?
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 at least $5,000 to start each quarter. Required: Fill in the missing amounts in the above table.
A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of $4,000 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. Cash balance, beginning Add collections from customers Total cash available Less disbursements: Quarter (000 omitted) (000 omitted) 1 2 3 4 Year 6 $ 4 $ 4 $ 4 6 Assessment Tool iFrame 63 96 108 104 369 69 100 112 108 375 Purchase of inventory 47 Selling and administrative expenses 15 530 57 51 31 186 32 30 21 98 Equipment purchases 10 9 22 10 51 Dividends 2 2 2 2 8 Total disbursements Excess (deficiency) of cash available over disbursements 74 100 105 64 343 (5) (1) 7 44 32 Financing: Borrowings Repayments (including interest) * Total financing 9 6 14 (2) (13) (15) 9 6 (2) (13) (1) Cash balance, ending $ 4 $ 4 $ EA 5 31 31 *Interest will total $1,000 for the year.
Question 1 The following data is available from the various functional budgets prepared at Nur Ika Enterprise for the year 2022: January RM '000 February RM '000 March RM '000 April RM 000 Cash sales 128 84 72 90 Credit sales 640 1,140 880 760 800 Purchases for resale Salaries and wages Overhead expenses 560 520 320 266 280 238 248 160 150 160 140 Other information is available as follows: (1) 5% of all sales on credit are expected to become bad debts. Receipts from credit customers are due in the following sales. All goods are bought on credit from suppliers who allow 2.5% cash discount for payment in the month following purchase. (ii) (iii) Salaries and wages are paid in the month they are earned. (iv) Payments for overhead expenses are made in the month the expenses are incurred. The above overhead budget includes RM28,000 per month for depreciation. Purchase two new vans, costing RM21,000 each, are to be paid in April. (v) (vi) Rental for new office amounting RM175,000 is to be…
ces Exercise 8-11 (Static) Cash Budget Analysis [LO8-8] 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. (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. Quarter 1 Quarter 21 (000 omitted) (000 omitted) $ $ $ 6 65 71 35 28 8 2 73 (2) 7 5$ 5 $ 70 75 45 30 8 2 65 (10) 15 Quarter 3 (000 omitted) 15 55 5 $ 96 101 48 30 10 2 00 11 Quarter 4 (000 omitted) (6) (6) 55 5 92 97 35 25 10 2 72…
A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $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. 1 Quarter (000 omitted) (000 omitted) 2 3 4 Year Cash balance, beginning $ 9 Add collections from customers 61 103 347 Total cash available 70 Less disbursements: Purchase of inventory 42 52 34 Selling and administrative expenses 32 30 103 Equipment purchases 14 8 17 49 Dividends Total disbursements Excess (deficiency) of cash available over disbursements 2 2 2 94 (8) 14 Financing: Borrowings Repayments (including interest)* Total financing 10 (21)
Required: glored. 00. nidam aillim olgmoo Using Schedule 1 as your guide, prepare a schedule of expected cash collections from sales, 1. to vilidaliavs b by month and in total, for the second quarter. 2. What is the accounts receivable balance on June 30th? EXERCISE 8–2 Production Budget L08-3 Down Under Products, Ltd., of Australia has budgeted sales of its popular boomerang for the nay four months as follows: qlan nig Unit Sales oism oq April.... May .. June.... 50,000 bo 75,000 lloe be 90,000 .00A88 80,000 lo iben o ao wol July ... The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of-month inventory levels must equal 10% of the following month s unit sales. The inventory at the end of March was 5,000 units. Required: Using Schedule 2 as your guide, prepare a production budget by month and in total, for the second quarter. bottle of Mink Caress, a very popular perfume made eted pro- EXERCISE 8–3 Direct…