Question

You recently began a job as an accounting intern at Rocky Adventures. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with the budget file crashed, and you did not have a backup or even a hard copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you may have just enough information to reconstruct the budget. (Click the icon to view information on borrowing cash.) Requirements Complete the following cash budget. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell. Enter cash deficiencies with a minus sign or parentheses. Enter the net total effects of financing with a minus sign when the amount is a net outflow. Round interest expense to the nearest whole dollar.)

Answer 1

beginning cash balance А В D E 1 Rocky Adventures cash budget 2 february and march 4 february march 5 beginning cash balance plus cash collections plus cash from sale of plant assets total cash available less cash payments (purchase inventory) less cash payments (operating expenses) total cash payments (1) ending cash balance before financing minimum cash balance desired cash excess (deficiency) $ 20,000 $ 80,000 $ 2,300 $106,700 $102,300 $ 41,500 $16,600 6 $90,100 $ 0 7 9 $50,600 $ 47,600 $98,200 $ 8,500 10 $ 37,800 $79,300 11 12 $ 23,000 $ 20,000 $ 3,000 13 $20,000 14 -$ 11,500 15 financing 16 $11,500 $0 plus new borrowings less debt repayments 17 $ 0 -$3,000 18 19 X B6 CC

for formulas and calculations, refer to the image below -

beginning cash balance А В C D E 1 Rocky Adventures 2 cash budget february and march 4 february march beginning cash balance plus cash collections plus cash from sale of plant assets total cash available less cash payments (purchase inventory) less cash payments (operating expenses) total cash payments (1) ending cash balance before financing minimum cash balance desired cash excess (deficiency) -20000 16600 6 C9-C6-C8| 80000 2300 7 =D6+D7+D8 -C12-C11|41500 -D12-D10 9 106700 10 47600 11 98200 =D9-D13 23000 12 13 C9-C12 20000 20000 14 C13-C14|D13-D14 15 financing 16 --C15 plus new borrowings less debt repayments 17 0 -D15 18 0 19 B6 Ln CC

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