You have been hired by Ashton Corporation, a retailer, to assist in preparing the annual cash budget. The following information is available regarding the quarterly 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.

Jardin & Co. is a retailer that is preparing its budget for the upcoming fiscal yea Management has prepared the following summary of its budgeted cash flows: Total cash receipts Total cash disbursements 1st Quarter 2nd Quarter $180,000 250,000 $320,000 230,000 3rd Quarter 4th Quarter $210,000 220,000 $230,000 240,000 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 an annual interest rate of 10%. 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. Jardin intends to make payments to retire loans whenever cash is available. Required: Prepare the company's cash budget for the upcoming fiscal year. How does the fourth-quarter ending cash balance change if interest on borrowing is accrued…

The management accountant at Miller Merchandising & More, Odail Russell is in the process ofpreparing the cash budget for the business for the fourth quarter of 2021. It is customary for thebusiness to borrow money during this quarter. Extracts from the sales and purchases budgets areas follows:Month               cash sales           sales on account      purchasesAugust               $85,000                     $640,000              $420,000September       $70,000                      $550,000              $550,000October             $ 88,550                    $600,000              $500,000November         $77,160                     $800,000              $600,000December       $174,870                    $500,000               $450,000 Expected purchases include monthly cash purchases of 5%. All other purchases are on account. Accounts payable are settled as follows, in accordance with the credit terms –2/30, n60: 60% in the month in which the inventory is purchased40% in the…

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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 $ 320,000 $ 440,000 $ 370,000 $ 390,000 Total cash disbursements $ 372,000 $ 342,000 $ 332,000 $ 352,000 The company’s beginning cash balance for the upcoming fiscal year will be $27,000. 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.     Prepare the company’s cash budget for the upcoming fiscal year.

The following information is provided to assist in the preparation of the Cash Budget for Ding Ltd. for May 2020. The cash balance at 1 May 2020 is $30,000.     Budgeted Sales ($) Budgeted Purchases ($) April 170,000 64,000 May 140,000 68,000   All sales are on cash basis and will be collected in the same month the sale is made. All purchases are made on credit and payments are made as follows: 60% of purchases are paid for in the month of purchase. 40% of purchases are paid for in the month following the purchase. The business plans to take out a small business loan of $50,000 at the end of May 2020 and will be repaying it back in July 2020. Selling and administrative expenses each month are $45,000. The selling and administrative expenses include monthly depreciation expense of $6,000. Sales commission is 15% of the total monthly sales, and paid to the staff at the end of every month. Equipment costing $35,000 is expected to be bought in May and paid in…

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

The company provides the following information regarding the cash budget for next year:   Quarter 1 Quarter 2 Quarter 3 Quarter 4 Beginning cash balance $5,000 $5,000 $5,000 $5,000 Excess (Deficiency) ($3,000) $2,000 ($2,500) $1,000 The company's policy is to start each quarter with a cash balance of $5,000.The company has access to a line of credit in the amount of $50,000 for any short term borrowing needs and pays the loans off as quickly as possible.The company assumes the cash budget for the year will begins with no loans.What is the expected loan balance at the end of Quarter 2 (ignore interest)?

Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2018: Credit sales Credit purchases Cash disbursements Wages, taxes, and April May June $322,000 $302,000 $362,000 130,000 153,000 178,000 44,200 11,700 63,200 expenses Interest Equipment purchases 11,200 11,200 82,000 154,000 11,200 The company predicts that 5 percent of its credit sales will never be collected, 40 percent of its sales will be collected in the month of the sale, and the remaining 55 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2018, credit sales were $192,000 and credit purchases were $132,000. Using this information, complete the following cash budget: (Do not round intermediate calculations. Leave no cells blank - be certain to enter "O" wherever required.) Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases Wages,…