Question
In: Accounting
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows:
| 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||
| Total cash receipts | $ | 320,000 | $ | 440,000 | $ | 370,000 | $ | 390,000 |
| Total cash disbursements | $ | 372,000 | $ | 342,000 | $ | 332,000 | $ | 352,000 |
The company’s beginning cash balance for the upcoming fiscal year
will be $27,000. The company requires a minimum cash balance of
$10,000 and may borrow any amount needed from a local bank at a
quarterly interest rate of 3%. The company may borrow any amount at
the beginning of any quarter and may repay its loans, or any part
of its loans, at the end of any quarter. Interest payments are due
on any principal at the time it is repaid. For simplicity, assume
that interest is not compounded.
Required:
Prepare the company’s cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.)
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows:
The company’s beginning cash balance for the upcoming fiscal year will be $20,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the
upcoming fiscal year. Management has prepared the following summary
of its budgeted cash flows:
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
Total cash
receipts
$
280,000
$
400,000
$
330,000
$
350,000
Total cash
disbursements
$
344,000
$
314,000
$
304,000
$
324,000
The company’s beginning cash balance for the upcoming fiscal year
will be $45,000. The company requires a minimum cash balance of
$10,000 and may...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the
upcoming fiscal year. Management has prepared the following summary
of its budgeted cash flows:
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
Total cash receipts
$
270,000
$
420,000
$
300,000
$
320,000
Total cash disbursements
$
323,000
$
293,000
$
283,000
$
303,000
The company’s beginning cash balance for the upcoming fiscal year
will be $38,000. The company requires a minimum cash balance of
$10,000 and may...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the
upcoming fiscal year. Management has prepared the following summary
of its budgeted cash flows:
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
Total cash receipts
$
230,000
$
380,000
$
260,000
$
280,000
Total cash disbursements
$
295,000
$
265,000
$
255,000
$
275,000
The company’s beginning cash balance for the upcoming fiscal year
will be $30,000. The company requires a minimum cash balance of
$10,000 and may...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the
upcoming fiscal year. Management has prepared the following summary
of its budgeted cash flows:
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
Total cash receipts
$
320,000
$
440,000
$
370,000
$
390,000
Total cash disbursements
$
372,000
$
342,000
$
332,000
$
352,000
The company’s beginning cash balance for the upcoming fiscal year
will be $27,000. The company requires a minimum cash balance of
$10,000 and may...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the
upcoming fiscal year. Management has prepared the following summary
of its budgeted cash flows: 1st Quarter 2nd Quarter 3rd Quarter 4th
Quarter Total cash receipts $188,000 $349,000 $217,000 $242,000
Total cash disbursements $244,000 $226,000 $205,000 $224,000 The
company's beginning cash balance for the upcoming fiscal year will
be $26,400. The company requires a minimum cash balance of $10,200
and may borrow any amount needed from a local bank...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the
upcoming fiscal year. Management has prepared the following summary
of its budgeted cash flows:
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
Total cash receipts
$
310,000
$
430,000
$
360,000
$
380,000
Total cash disbursements
$
365,000
$
335,000
$
325,000
$
345,000
The company’s beginning cash balance for the upcoming fiscal year
will be $25,000. The company requires a minimum cash balance of
$10,000 and may...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for
the upcoming fiscal year. Management has prepared the following
summary of its budgeted cash flows:
Total cash receipts
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
$180,000 $330,000 $210,000 $230,000
Total cash disbursements
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
$260,000 $230,000 $220,000 $240,000
The company’s beginning cash balance for the upcoming fiscal
year will be $20,000. The company requires a minimum cash balance
of $10,000 and may...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the
upcoming fiscal year. Management has prepared the following summary
of its budgeted cash flows:
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
Total cash receipts
$
280,000
$
430,000
$
310,000
$
330,000
Total cash disbursements
$
330,000
$
300,000
$
290,000
$
310,000
The company’s beginning cash balance for the upcoming fiscal year
will be $40,000. The company requires a minimum cash balance of
$10,000 and may...
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the
upcoming fiscal year. Management has prepared the following summary
of its budgeted cash flows:
1st
Quarter
2nd
Quarter
3rd
Quarter
4th
Quarter
Total cash
receipts
$290,000
$440,000
$320,000
$340,000
Total cash
disbursements
$337,000
$307,000
$297,000
$317,000
The company’s beginning cash balance for the upcoming fiscal
year will be $42,000. The company requires a minimum cash balance
of $10,000 and may...
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