Business, 03.08.2021 03:20 meiaalvizo2005
A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $3,000 to start each quarter. Fill in the missing amounts.
Quarter (000 omitted)
1 2 3 4 Year
Cash balance, beginning $ 9 $ 3 3 $ 3 $ 9
Add collections from customers 77 107 379
Total cash available
Less disbursements: 86 110 388
Purchase of inventory 46 56 30
Selling and administrative
expenses 32 30 109
Equipment purchases 13 9 21 53
Dividends 2 2 2 2
Total disbursements 99
Excess (deficiency) of cash
available over disbursements (2) 7
Financing:
Borrowings 7
Repayments (including interest)
Total financing (9)
Cash balance, ending
Interest will total $1,000 for the year
Answers: 1
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A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires...
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