Question

You recently began a job as an accounting intern at

CanyonCanyon

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.

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​(Click the icon to view information on borrowing​ cash.)

Requirements

1. Complete the following cash budget

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​(For amounts with a zero​ 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 or parentheses when the amount is a net outflow. Round the interest expense to the nearest whole​ dollar.)

Canyon Adventures Ltd.

Cash Budget

February and March

	February
Beginning cash balance	$17,000
Cash collections	90,400
Cash from sale of plant assets	0
Cash available	107,400
Cash payments:
Purchases of inventory	50,300
Operating expenses	47,900
Total payments	98,200
(1) Ending cash balance before financing	9,200
Minimum cash balance desired	24,000
Cash excess (deficiency)	(14,800)
Financing of cash deficiency:
Borrowing (at end of month)
Principal repayments (at end of month)
Interest expense
(2) Total effects of financing
Ending cash balance (1) + (2)

March
80,100
2,700
$41,500
27,700
24,000
3700

Answer 1

Canyon Adventures Ltd.
Cash Budget
	February	March
Beginning cash balance	$     17,000	$     24,000
Cash collections	$     90,400	$     80,100
Cash from sale of plant assets	$           -	$      2,700
Cash available	$   107,400	$   106,800
Cash payments:
Purchases of inventory	$     50,300	$     41,500
Operating expenses	$     47,900	$     37,600
Total payments	$     98,200	$     79,100
(1) Ending cash balance before financing	$      9,200	$     27,700
Minimum cash balance desired	$     24,000	$     24,000
Cash excess (deficiency)	$   (14,800)	$      3,700
Financing of cash deficiency:
Borrowing (at end of month)	$     14,800
Principal repayments (at end of month)		$     (3,700)
Interest expense
(2) Total effects of financing	$     14,800	$     (3,700)
Ending cash balance (1) + (2)	$     24,000	$     24,000

Any information about borrowing, repayment and interest is not given, so if any information is given about it, kindly comment with the information