Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter 3rd Quarter $ 480,000 $ 370,000 $ 410,000 $360,000 $360,000 $ 400,000 The company's beginning cash balance for the upcoming fiscal year will be $18,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year. (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: Garden Depot Cash Budget 1st Quarter 0 0 2nd Quarter 4th Quarter $ 430,000 $ 380,000 0 0 3rd Quarter 0 0 4th Quarter 0 0 Year

Tucker Inc. had the following budgeted sales for the first half of the current year:               Cash Sales    Credit SalesJanuary    $70,000    $340,000February    50,000    190,000March    40,000    135,000April    35,000    120,000May    45,000    160,000June    40,000    140,000The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled:          Collections on credit sales: 60% in month of sale          30% in month following sale          10% in second month following sale          There is no beginning accounts receivable balance. The total cash collected by Tucker Inc. during January would be:       The total cash collected by Tucker Inc. during February would be:       The total cash collected by Tucker Inc. during March would be:       The total cash collected by Tucker Inc. during April would be:       The total cash collected by Tucker Inc. during May would…

Garden Depot is a retailer that provided the following budgeted cash flows for next year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 180,000 $330,000 $210,000 $230,000 Total cash disbursements $ 260,000 $230,000 $220,000 $240,000 The company's beginning cash balance for next year will be $20,000. 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.

The controller of Optimum wishes to improve the company's control system by preparing a monthly cash budget. The following information relates to the month ending July 31, 2021: June 30, 2021, cash balance Dividends were declared on June 15* $130,000 44, 000 83,600 13,000 198,000 122,400 47,000 70, 000 Cash expenditures to be paid in July for operating expenses Depreciation expense Cash collections to be received Merchandise purchases to be paid in cash Equipment to be purchased for cash Optimum wishes to maintain a minimum cash balance of *Dividends are payable to shareholders of record on declaration date, 30 days after declaration. Required: 1. Prepare a cash budget for the month ending July 31, 2021, indicating how much, if anything, Optimum will need to borrow to meet its minimum cash requirement. (Leave no cells blank - enter "O" wherever required).

Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter $ 210,000 $ 281,000 The company's beginning cash balance for the upcoming fiscal year will be $26,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest Required: Prepare the company's cash budget for the upcoming fiscal year.…

Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter $ 350,000 $ 393,000 3rd Quarter $ 400,000 $ 353,000 4th Quarter $ 420,000 $ 373,000 $ 470,000 $ 363,000 The company's beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded. Required: Prepare the company's cash budget for the upcoming fiscal year. (Repayments, interest, and cash deficiencies should be indicated by a minus sign.) 2nd Quarter…

The controller of Bridgeport Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: October September October November $125,000 $154,000 $201,000 53,000 66,000 72,000 76,000 48,000 44,000 46,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, Insurance, and property tax expense represent $6,000 of the estimated monthly manufacturing costs. The annual Insurance premium is paid in January, and the annual property taxes are paid in December. Of the remainder of the manufacturing costs, 80% are expected to be paid in the month in which they are incurred and the balance in the following month. Sales Manufacturing costs Selling and administrative expenses Capital expenditures Current assets as of September 1 include…

A piece of equipment is available for purchase for $ 16000 has an estimated useful life of 5 years, and has an estimated salvage value of $ 4000. Determine the depreciation and the book value for each of the 5 years using the straight-line method and the double declining-balance method? (Compare)

Gadubhai

Western Company is preparing a cash budget for June. The company has $10,400 in cash at the beginning of June and anticipates $31,600 in cash receipts and $37,700 in cash payments during June. Western Company has an agreement with its bank to maintain a minimum cash balance of $10,000. As of May 31, the company has no loans outstanding. To maintain the $10,000 required balance, during June the company must: