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Sylvia Turner, the chief financial officer, is responsible for The Premium Supplier's cash budget for 20X6. The budget will help Turner determine the amount of long-term borrowing needed to end the year with a cash balance of $1,500,000. Turner's assistants have assembled budget data for 20X6, which the computer printed in alphabetical order. Not all the data items reproduced below are used in preparing the cash budget. (Click the icon to view the assembled budget data for 20X6.) Read the requirements. Requirement 1. Prepare the cash budget of The Premium Supplier, Inc. (Enter amounts in thousands. Use parentheses or a minus sign for cash or financing needed amounts. Include the first value as well as the budgeted cash receipts in th first subtotal calculation.) Premium Suppler, Inc. Cash Budget Year Ended December 31, 20X6 Data table (In thousands) (Assumed Data) (In thousands) Actual cash balance, December 31, 20X5. $ 105 Budgeted total assets 22,677 Budgeted total current assets 7,276 Budgeted total current liabilities. 4,660 Budgeted total liabilities..... 11,688 Budgeted total shareholders' equity 10,989 Collections from customers 20,800 Dividend payments. Issuance of shares. 287 667 Net income. 1,203 Payment of long-term and short-term debt 980 Payment of operating expenses 2,149 Purchase of inventory items 14,045 Purchase of property and equipment..... 1,528

Sylvia Turner, the chief financial officer, is responsible for The Premium Supplier's cash budget for 20X6. The budget will help Turner determine the amount of long-term borrowing needed to end the year with a cash balance of $1,500,000. Turner's assistants have assembled budget data for 20X6, which the computer printed in alphabetical order. Not all the data items reproduced below are used in preparing the cash budget. (Click the icon to view the assembled budget data for 20X6.) Read the requirements. Requirement 1. Prepare the cash budget of The Premium Supplier, Inc. (Enter amounts in thousands. Use parentheses or a minus sign for cash or financing needed amounts. Include the first value as well as the budgeted cash receipts in th first subtotal calculation.) Premium Suppler, Inc. Cash Budget Year Ended December 31, 20X6 Data table (In thousands) (Assumed Data) (In thousands) Actual cash balance, December 31, 20X5. $ 105 Budgeted total assets 22,677 Budgeted total current assets 7,276 Budgeted total current liabilities. 4,660 Budgeted total liabilities..... 11,688 Budgeted total shareholders' equity 10,989 Collections from customers 20,800 Dividend payments. Issuance of shares. 287 667 Net income. 1,203 Payment of long-term and short-term debt 980 Payment of operating expenses 2,149 Purchase of inventory items 14,045 Purchase of property and equipment..... 1,528

Financial Management: Theory & Practice
Financial Management: Theory & Practice
16th Edition
ISBN:9781337909730
Author:Brigham
Publisher:Brigham
Chapter16: Supply Chains And Working Capital Management
Section: Chapter Questions
Problem 16MC: In an attempt to better understand RR’s cash position, Johnson developed a cash budget for the first...
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Sylvia Turner, the chief financial officer, is responsible for The Premium Supplier's cash budget for 20X6. The budget will help Turner determine the amount of long-term borrowing needed to end the year with a cash balance of $1,500,000. Turner's assistants have assembled budget data for 20X6, which the computer printed in alphabetical order. Not all the data items reproduced below are used in preparing the cash budget. E (Click the icon to view the assembled budget data for 20X6.) Read the requirements. Requirement 1. Prepare the cash budget of The Premium Supplier, Inc. (Enter amounts in thousands. Use parentheses or a minus sign for cash or financing needed amounts. Include the first value as well as the budgeted cash receipts in the first subtotal calculation.) Premlum Suppller, Inc. Cash Budget Year Ended December 31, 20X6 Data table (In thousands) (Assumed Data) (In thousands) Actual cash balance, December 31, 20X5. 105 Budgeted total assets 22,677 Budgeted total current assets 7,276 Budgeted total current liabilities. 4,660 Budgeted total liabilities... 11,688 Budgeted total shareholders' equity 10,989 Collections from customers.. 20,800 Dividend payments 287 Issuance of shares.. 667 Net income.. 1,203 Payment of long-term and short-term debt 980 Payment of operating expenses 2,149 Purchase of inventory items 14,045 Purchase of property and equipment 1,528
Transcribed Image Text:Sylvia Turner, the chief financial officer, is responsible for The Premium Supplier's cash budget for 20X6. The budget will help Turner determine the amount of long-term borrowing needed to end the year with a cash balance of $1,500,000. Turner's assistants have assembled budget data for 20X6, which the computer printed in alphabetical order. Not all the data items reproduced below are used in preparing the cash budget. E (Click the icon to view the assembled budget data for 20X6.) Read the requirements. Requirement 1. Prepare the cash budget of The Premium Supplier, Inc. (Enter amounts in thousands. Use parentheses or a minus sign for cash or financing needed amounts. Include the first value as well as the budgeted cash receipts in the first subtotal calculation.) Premlum Suppller, Inc. Cash Budget Year Ended December 31, 20X6 Data table (In thousands) (Assumed Data) (In thousands) Actual cash balance, December 31, 20X5. 105 Budgeted total assets 22,677 Budgeted total current assets 7,276 Budgeted total current liabilities. 4,660 Budgeted total liabilities... 11,688 Budgeted total shareholders' equity 10,989 Collections from customers.. 20,800 Dividend payments 287 Issuance of shares.. 667 Net income.. 1,203 Payment of long-term and short-term debt 980 Payment of operating expenses 2,149 Purchase of inventory items 14,045 Purchase of property and equipment 1,528
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