How to find cash balance and borrowings?
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Prepare Cash Budget For 3 Months Windsor Corporation expects the following cash receipts and disbursements during the first quarter of 2016 (receipts exclude new borrowings and disbursements exclude interest payments on borrowings since January 1, 2016) January February March Cash receipts $420,000 $430,000 $390,000 Cash disbursements 380,000 510,000 410,000 The expected cash balance at January 1, 2016, is $65,000. Windsor wants to maintain a cash balance at the end of each month of at least $50,000. Short-term borrowings at 1%...
Shakespear Book Ltd has been formed to open a book shop. 1. Sales for 2020 are expected to be as follows: January $40,000, February $50,000, March $70,000.2. 90% of sales are for cash, the remainder of sales are on credit terms and collected 1 month later.3. Inventory purchases are estimated to be 40% of sales each month purchased as sales are made. Suppliers are paid one month in arrears.4. 2 staff members will be employed at a cost of $5,000...
Prepare Cash Budget from Budgeted Transactions Prepare a cash budget for the month ended May 31, 2019. Campton Company anticipates a cash balance of $91,000 on May 1, 2019. The following budgeted transactions for May 2019 present data related to anticipated cash receipts and cash disbursements: 1. For May, budgeted cash sales are $67,000 and budgeted credit sales are $507,000. (Credit sales for April were $450,000.) In the month of sale, 40% of credit sales are collected, with the balance...
Prepare Cash Budget from Budgeted Transactions Prepare a cash budget for the month ended May 31, 2019. Campton Company anticipates a cash balance of $97,000 on May 1, 2019. The following budgeted transactions for May 2019 present data related to anticipated cash receipts and cash disbursements: 1. For May, budgeted cash sales are $73,000 and budgeted credit sales are $513,000. (Credit sales for April were $450,000.) In the month of sale, 40% of credit sales are collected, with the balance...
Exercise 8-11 Cash Budget Analysis (L08-8) A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $7,000 to start each quarter. Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.) Quarter (000 omitted) 2 3 (000 omitted) Year 4 105 378 28 30 19| Cash balance, beginning Add collections from customers Total...
Cash Budget 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 An accounting device used to plan and control resources of operational departments and divisions.budget information: September October November Sales $108,000 $129,000 $179,000 Manufacturing costs 45,000 55,000 64,000 Selling and administrative expenses 38,000 39,000 68,000 Capital expenditures _ _ 43,000 The company expects to sell about 10% of its merchandise for cash. Of sales...
Cash Budget 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 An accounting device used to plan and control resources of operational departments and divisions.budget information: September October November Sales $108,000 $129,000 $179,000 Manufacturing costs 45,000 55,000 64,000 Selling and administrative expenses 38,000 39,000 68,000 Capital expenditures _ _ 43,000 The company expects to sell about 10% of its merchandise for cash. Of sales...
Zolezzi Inc. is preparing its cash budget for March. The budgeted beginning cash balance is $20,000. Budgeted cash receipts total $111,000 and budgeted cash disbursements total $92,000. The desired ending cash balance is $50,000. The company can borrow up to $80,000 at any time from a local bank, with interest not due until the following month. Required: Prepare the company's cash budget for March in good form. Make sure to indicate what borrowing, if any, would be needed to attain...
Zolezzi Inc. is preparing its cash budget for March. The budgeted beginning cash balance is $21,000. Budgeted cash receipts total $112,000 and budgeted cash disbursements total $91,000. The desired ending cash balance is $55,000. The company can borrow up to $90,000 at any time from a local bank, with interest not due until the following month. Required: Prepare the company's cash budget for March in good form. Make sure to indicate what borrowing, if any, would be needed to attain...
Help Zolezzi Inc. is preparing its cash budget for March. The budgeted beginning cash balance is $27,000. Budgeted cash receipts total $104,000 and budgeted cash disbursements total $87,000. The desired ending cash balance is $70,000. The company can borrow up to $90.000 at any time from a local bank, with interest not due until the following month. Required: Prepare the company's cash budget for March in good form. Make sure to indicate what borrowing, if any, would be needed to...