Kayak Co. budgeted the following cash receipts (excluding cash
receipts from loans received) and cash payments (excluding cash
payments for loan principal and interest payments) for the first
three months of next year.
Cash Receipts |
Cash payments |
|||||
January | $ | 517,000 | $ | 458,300 | ||
February | 403,500 | 344,800 | ||||
March | 475,000 | 532,000 | ||||
According to a credit agreement with the company’s bank, Kayak
promises to have a minimum cash balance of $50,000 at each
month-end. In return, the bank has agreed that the company can
borrow up to $150,000 at a monthly interest rate of 1%, paid on the
last day of each month. The interest is computed based on the
beginning balance of the loan for the month. The company repays
loan principal with any cash in excess of $50,000 on the last day
of each month. The company has a cash balance of $50,000 and a loan
balance of $100,000 at January 1.
Prepare monthly cash budgets for January, February, and March.
(Negative balances and Loan repayment amounts (if any)
should be indicated with minus sign.)
,
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments...
Kayak Co. budgeted the following cash receipts (excluding cash
receipts from loans received) and cash payments (excluding cash
payments for loan principal and interest payments) for the first
three months of next year.
Cash
Receipts
Cash
payments
January
$
524,000
$
466,400
February
403,500
345,900
March
455,000
522,000
According to a credit agreement with its bank, Kayak requires a
minimum cash balance of $40,000 at each month-end. In return, the
bank has agreed that the company can borrow up to...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. Cash Receipts Cash payments January $ 526,000 $ 470,600 February 408,000 352,600 March 465,000 532,000 According to a credit agreement with its bank, Kayak requires a minimum cash balance of $30,000 at each month-end. In return, the bank has agreed that the company can borrow up to...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. Cash January February March Receipts $523,000 409,000 452,000 Cash payments $472,000 358,000 521,000 According to a credit agreement with the company's bank, Kayak promises to have a minimum cash balance of $50,000 at each month-end. In return, the bank has agreed that the company can borrow up...
Kayak Co. budgeted the following cash receipts (excluding cash
receipts from loans received) and cash payments (excluding cash
payments for loan principal and interest payments) for the first
three months of next year.
Cash
Receipts
Cash
payments
January
$
527,000
$
473,800
February
410,000
356,800
March
467,000
528,000
According to a credit agreement with its bank, Kayak requires a
minimum cash balance of $50,000 at each month-end. In return, the
bank has agreed that the company can borrow up to...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $519,000 411,000 479,000 Cash payments $ 462,500 354,500 522,000 According to a credit agreement with the company's bank, Kayak promises to have a minimum cash balance of $50,000 at each month-end. In return, the bank has agreed that the company can borrow...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. Cash Receipts Cash payments January $ 526,000 $ 471,700 February 401,000 346,700 March 455,000 527,000 According to a credit agreement with its bank, Reen requires a minimum cash balance of $50,000 at each month-end. In return, the bank has agreed that the company can borrow up to...
Kayak Co budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $516,000 410, 457.000 Cash payments $458,40 352,400 522,00 According to a credit agreement with its bank, Kayak requires a minimum cash balance of $50.000 at each month end. In return, the bank has agreed that the company can borrow up to $140,000...
Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $524,000 402,500 454,000 Cash payments $466,400 344,900 527,000 According to a credit agreement with its bank, Kayak requires a minimum cash balance of $50,000 at each month-end. In return, the bank has agreed that the company can borrow up to $150,000 at...
Kayak Co. budgeted the following cash receipts (excluding cash
receipts from loans received) and cash payments (excluding cash
payments for loan principal and interest payments) for the first
three months of next year.
Cash
Receipts
Cash
payments
January
$
519,000
$
462,500
February
410,500
354,000
March
475,000
532,000
According to a credit agreement with its bank, Kayak requires a
minimum cash balance of $40,000 at each month-end. In return, the
bank has agreed that the company can borrow up to...
Kayak Co budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $516,000 406,000 478,000 Cash payments $461,700 351,700 524,000 According to a credit agreement with its bank, Kayak requires a minimum cash balance of $50,000 at each month end. In return, the bank has agreed that the company can borrow up to $150,000...