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: September October November $125,000 $154,000 53,000 66,000 44,000 46,000 Sales $201,000 72,000 76,000 48,000 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. Manufacturing costs Selling and administrative expenses Capital expenditures Current assets as of September 1 include cash of $48,000, marketable securities of $68,000, and accounts receivable of $139,000 ($30,000 from July sales and $109,000 from August sales). Sales on account for July and August were $100,000 and $109,000, respectively. Current labilities as of September 1 include $6,000 of accounts payable incurred in August for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. An estimated income tax payment of $18,000 will be made in October. Bridgeport's regular quarterly dividend of $6,000 is expected to be declared in October and paid in November. Management desires to maintain a minimum cash balance of $47,000. $ Required: 1. Prepare a montity cash budget and supporting schedules for September, October, and November Assume 360 days per year for interest calculations

Garden Depot is a retailer that provided the following budgeted cash flows for next year: 3rd Quarter $ 220,000 $ 227,000 Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter $ 190,000 $ 340,000 $ 267,000 $ 237,000 The company's beginning cash balance for next year will be $22,000. 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…

Vargas Company is preparing a cash budget for April. The company has $27,000 cash at the beginning of April and anticipates $60,000 in cash receipts and $64,500 in cash disbursements during April. Vargas Company has an agreement with its bank to maintain a cash balance of at least $25,000. To maintain the $25,000 required balance, during April the company must:                         Borrow $2,500 from the owner. Borrow $5,000 from the owner.    Borrow $7,500 from the owner. Borrow $4,500 from anyone other than the bank or the owner.

The controller of Mercury Shoes Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: Sales/Costs April May June Sales $150,000 $175,000 $195,000 Manufacturing costs 66,000 87,000 115,000 Selling and admin. expenses 40,000 46,000 51,000 Capital expenses 0 0 120,000   The company expects to sell about 15% 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 after sale). Depreciation, insurance, and property tax expense represent $12,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in December, and the annual property taxes are paid in September. 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.  Current…