A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $3,000 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 1 (000 omitted) Quarter 2 Quarter 3 (000 omitted) (000 omitted) Quarter 4 Year (000 (000 omitted) omitted) Cash balance, beginning S 8 Add collections from customers 120 Total cash available 92 Less disbursements: 53 63 29 45 Purchase of inventory Selling and administrative expenses Equipment purchases Dividends Total disbursements Excess (deficiency) of cash available over disbursements Fingering 8 2 (1) 9 2 119 30 28 2 9 2 420 127 55

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at
least $3,000 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 1 Quarter 2
(000 omitted) (000 omitted)
8
Quarter 3
(000 omitted)
Quarter 4
(000 omitted)
Year (000
omitted)
Cash balance, beginning
$
Add collections from customers
120
Total cash available
92
Less disbursements:
Purchase of inventory
53
63
29
Selling and administrative expenses
45
30
Equipment purchases
8
28
Dividends
2
Total disbursements
Excess (deficiency) of cash available over disbursements
(1)
Financing:
Borrowings
Repayments (including interest)*
Total financing
Cash balance, ending
*Interest will total $1,000 for the year.
9
2
119
13
2
9
2
(12)
420
127
55
Transcribed Image Text:Check my work A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $3,000 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 1 Quarter 2 (000 omitted) (000 omitted) 8 Quarter 3 (000 omitted) Quarter 4 (000 omitted) Year (000 omitted) Cash balance, beginning $ Add collections from customers 120 Total cash available 92 Less disbursements: Purchase of inventory 53 63 29 Selling and administrative expenses 45 30 Equipment purchases 8 28 Dividends 2 Total disbursements Excess (deficiency) of cash available over disbursements (1) Financing: Borrowings Repayments (including interest)* Total financing Cash balance, ending *Interest will total $1,000 for the year. 9 2 119 13 2 9 2 (12) 420 127 55
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