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Brindle Arts had the following Cash Budget for Quarter 1, 2022. | ||||
The company requires a minimum cash balance of | $ 50,000 | |||
Fill in the missing values: | **If a cell has a value of 0, type the 0. A blank cell will be marked as incorrect. | |||
January | February | March | Quarter 1 | |
Beginning Cash balance | $ 50,000 | $ 166,756 | $ 50,000 | |
Add cash collections | ||||
Total cash available | $ 662,638 | $ 673,643 | $ 812,693 | $ 1,931,075 |
Less total cash disbursements: | ||||
Purchases | $ 185,078 | $ 189,439 | ||
Direct labor | $ 86,875 | $ 82,875 | $ 249,750 | |
Variable manufacturing OH | $ 65,156 | $ 62,156 | $ 187,313 | |
Fixed manufacturing OH | $ 83,333 | $ 83,333 | ||
Variable S&A | $ 38,750 | $ 43,750 | $ 125,000 | |
Fixed S&A | $ 38,333 | $ 38,333 | ||
Equipment | $ 150,000 | $ 175,000 | ||
Total cash disbursements | $ 506,887 | $ 1,869,498 | ||
Cash available before financing | $ 27,143 | $ 166,756 | $ 85,577 | $ 61,577 |
Financing: | ||||
Borrowings (at beginnings of quarters) | $ 24,000 | $ - | $ 24,000 | |
Repayments | $ - | $ - | $ 24,000 | |
Interest | ||||
Total Financing | $ (25,080) | |||
Ending Cash balance | $ 51,143 | $ 60,497 | $ 60,497 |
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- Relevant data from the Poster Companys operating budgets are: Additional data: Capital assets were sold in January for $10,000 and $4,500 in May. Dividends of $4,500 were paid in February. The beginning cash balance was $60,359 and a required minimum cash balance is $59,000. Use this information to prepare a cash budget for the first two quarters of the yearONLY ANSWER QUESTION (B) the task of preparing the cash budget for the business for the quarter ending September 30, 2022. Your data collection has yielded the following:i) Extracts from the sales and purchases budgets are as follows:Month CashSales SalesOn Account CashPurchases PurchasesOn AccountMay $75,000 $480,000 $390,000June $135,000 $600,000 $36,000 $360,000July $86,800 $720,000 $61,700 $450,000August $105,600 $640,000 $68,800 $400,000September $112,500 $800,000 $77,250 $500,000ii) An analysis of the records shows that trade…Newman Medical Clinic has budgeted the following cash flows. January February March $101,000 $107,000 $127,000 Cash receipts Cash payments For inventory purchases For S&A expenses Newman Medical had a cash balance of $8,500 on January 1. The company desires to maintain a cash cushion of $6,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 2 percent per month. Repayments may be made in any amount available. Newman pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this year's quarterly results. Cash Budget Beginning cash balance Add: Cash receipt Cash available Less: Cash payments 90,500 31,500 Required Prepare a cash budget. (Any repayments/shortage should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) For inventory purchases For S&A expenses Interest expense per month…
- Question 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 i) An analysis of the records shows that trade receivables are settled according to the following credit pattern, in accordance with the credit terms 4/30, n90:50% in the month of sale30% in the first month following the sale20% in the second month following the saleii) Expected purchases…Question 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 i) An analysis of the records shows that trade receivables are settled according to the following credit pattern, in accordance with the credit terms 4/30, n90:50% in the month of sale30% in the first month following the sale20% in the…KAYAK COMPANYCash Budget JanuaryFebruaryMarchBeginning cash balance$30,000 $30,000 Add: Cash receipts525,000 400,000 450,000 Total cash available555,000 430,000 Less: Cash payments for All items excluding interest Interest on loan Total cash payments0 0 0 Preliminary cash balance Additional loan (loan repayment) Ending cash balance Loan balanceLoan balance - Beginning of month Additional loan (loan repayment) Loan balance, end of month$0 $0 $0
- A cash budget is prepared for a retail company. The company requires a minimum cash balance of at least $5,000 to start each quarter. Fill in the missing amounts (Note: Omit 000's in your answers). Quarter 1 3 3 4 Year Cash Balance, Beginning $ 6 Add: Collections from Customers 93 322 Total Cash Available before current financing 66 Deduct Disbursements: Purchase of Inventory 36 46 35 Operating Expenses 33 31 114 Equipment Purchases 10 10 11 35 Dividends 2 2 2 2 Total Disbursements 91…Question 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 i) An analysis of the records shows that trade receivables are settled according to the following credit pattern, in accordance with the credit terms 4/30, n90:50% in the month of sale30% in the first month following the sale20% in the second month following the saleii) Expected purchases…ladeo Corp. has provided a part of its budget for the second quarter Apr $43,000 Jun $42,000 Cash collections Cash payments: Purchases of direct materials Operating expenses Capital expenditures The cash balance on April 1 is $13,000. Assume that there will be no financing transactions or costs during the quarter. Calculate the projected cash balance at the end of May OA. $56,000 OB. $54,900 O C. $87,500 OD. $32,600 May $43,000 4,500 7,000 0 7,000 5,600 20,000 5,000 4,500 10,000 HELHE
- The following information was taken from Trusted Care Company's cash budget for the month of April: Beginning cash balance Cash receipts Cash disbursements If the company has a policy of maintaining an end of the month minimum cash balance of $25,000, the amount the company would have to borrow is $10,000 $13,000 $11,000 $0 $27,000 62,000 75,000Prepare the cash budget for January and February of Gilmore Company using the following data: February P42,100 January Cash Receipts Cash Disbursements Beginning Cash Balance Ending P46,500 P38,320 P37,220 P5,210 As per computation Required Cash Balance (Minimum) P12,000 P12,000CHAPTER 4: THE CASH BUDGET 1. The Right Target, Inc., a marketing research and consulting firm, is working on a cash budget for July to December 2017. The staff has projected the following cash collections and payments: Collections Payments Cash Sales $10,000 Credit Sales Purchases $20,000 $15,000 July August $12,000 $24,000 $18,000 $28,000 $21,000 September $14,000 October $16,000 $32,000 $24,000 November $20,000 $40,000 December $25,000 $50,000 a) If the ending cash balance as of June 30, 2017 was $10,000, determine the firm's forecasted monthly cash balance. @ 2 W b) The staff at The Right Target, Inc. wants to know how much they would need to borrow each month if the minimum ending cash balance is $30,000 and the annual interest rate is 7%. c) Determine the impact on the ending cash balance if the firm uses any cash surplus above the required minimum cash balance to pay off its short-term borrowing monthly. S X command # Month 3 20 E D F3 C $ 4 gog R F4 F % 5 V 2 T G 6 B Y H & 7…