Homework Answers
| HOLIDAY EVENTS | ||||
| Partial Cash Budgets | ||||
| For the Months of October, November, and December | ||||
| October | November | December | Total | |
| Cash balance, beginning | 24000 | 12000 | 12000 | 24000 |
| Collection on sales | 36000 | 41000 | 81000 | 158000 |
| Cash available for operations | 60000 | 53000 | 93000 | 182000 |
| Disbursements for operations | -51000 | -61000 | -40000 | -152000 |
| Ending cash before borrowings or replacements | 9000 | -8000 | 53000 | 30000 |
| Short-term finance: | ||||
| New loans | 3000 | 20000 | 0 | 23000 |
| Repayments | 0 | 0 | -23000 | -23000 |
| Interest | 0 | 0 | -260 | -260 |
| Cash balance, ending | 12000 | 12000 | 29740 | 29740 |
Interest = ($3000 x 1% x 2) + ($20000 x 1% x 1) = $60 + $200 = $260
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Cash Budget & Short-Term Financing Presented below are partial October, November, and December cash budgets for...
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a. Prepare a cash budget for September, October, November, and
December. Use the minus sign to indicate the cash outflows, a
decrease in cash or cash payments.
b. Are the four monthly budgets that are presented prepared as
static budgets or flexible budgets?
c. What are the budget implications for Craig Kovar?
Craig can see that his present plan ______ sufficient cash. If
Craig did not budget but went ahead with the original plan, he
would be $______ short at...
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