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:   1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 270,000 $ 420,000 $ 300,000 $ 320,000 Total cash disbursements $ 323,000 $ 293,000 $ 283,000 $ 303,000 The company’s beginning cash balance for the upcoming fiscal year will be $38,000. 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. Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign.

Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements for the last four quarters follow: Sales revenue Cost of goods sold Gross profit Selling & administrative expenses Net income First Quarter $176,000 105,600 70,400 17,600 $ 52,800 Second Quarter $206,000 123,600 82,400 20,600 $ 61,800 Third Quarter $216,000 129,600 86,400 21,600 $ 64,800 Fourth Quarter $266,000 159,600 106,400 26,600 $ 79,800 Total $864,000 518,400 345,600 86,400 $259,200 Historically, cost of goods sold is about 60 percent of sales revenue. Selling and administrative expenses are about 10 percent of sales revenue. Fred Arvada, the chief executive officer, told Mr. Long that he expected sales next year to be 15 percent for each respective quarter above last year's level. However, Rita Banks, the vice president of sales, told Mr. Long that she believed sales growth would be only 10 percent. Required a. Prepare a pro forma income statement…

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: es Total cash receipts Total cash disbursements 1st Quarter $ 250,000 $ 309,000 2nd Quarter $ 400,000 3rd Quarter $ 280,000 4th Quarter $ 300,000 $ 279,000 $ 269,000 $ 289,000 The company's beginning cash balance for the upcoming fiscal year will be $34,000. 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.)

Vishnu

Verle, Inc. has a cash balance of $24,000 on April 1. The company is now preparing the cash budget for the second quarter. Budgeted cash collections and payments are as follows: Cash collections Cash payments: Purchases of direct materials Operating expenses Apr May Jun $24,000 $24,000 $25,000 5,800 4,600 4,600 6,000 3,500 5,300 There are no budgeted capital expenditures or financing transactions during the quarter. Based on the above data, calculate the projected cash balance at the end of May. OA. $60,200 OB. $24,000 OC. $52,100 OD. $55,600

The budgeted sales of Kelley, SA for the given months are as follows:   Cash Sales Credit Sales April $38,000 $256,000 May $54,000 $250,000 June $36,000 $192,000 July $33,000 $190,000 August $35,000 $287,000 To prepare a cash budget, the company needs to determine the expected cash collections each month, and has provided the following additional information:   The Accounts Receivable balance on April 1 was $82,015. Of this amount, $57,015 represented uncollected March sales and $25,000 represented uncollected February sales. Collections on Credit sales: 65% in month of sale 30% in month following sale 5% in second month following sale Part 1:   What should the April cash collected be? $BLANK Part 2: For August 1, what is budgeted Accounts Receivable? (76,100, 100,300, 109,950, 144950, OR 79,700)

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…