A cash budget, by quarters, is shown on the following page for a retail company (000 omitted). The company requires a minimum cash balance of $5,000 to start each quarter.
| Quarter |
| |||
| 1 | 2 | 3 | 4 | Year |
Cash balance, beginning | $ 9 | $ ? | $ ? | $ ? | $ ? |
Add collections from customers | ? | ? | 125 | ? | 391 |
Total cash available | 85 | ? | ? | ? | ? |
Less disbursements: |
|
|
|
|
|
Purchases of inventory | 40 | 58 | ? | 32 | ? |
Operating expenses | ? | 42 | 54 | ? | 180 |
Equipment purchases | 10 | 8 | 8 | ? | 36 |
Dividends | 2 | 2 | 2 | 2 | ? |
Total disbursements | ? | 110 | ? | ? | ? |
Excess (deficiency) of cash available over disbursements | (3) | ? | 30 | ? | ? |
Financing: |
|
|
|
|
|
Borrowings | ? | 20 |
|
| ? |
Repayments (including interest)* |
|
| (?) | (7) | (?) |
Total financing | ? | ? | ? | ? | ? |
Cash balance. ending | $ ? | $ ? | $ ? | $ ? | $ ? |
*Interest will total $4,000 for the year.
Required:
Fill in the missing amounts in the table above.
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