Question

You have been given the following information about Some Company that is working on its budget for the upcoming fiscal year. The table below contains the summary of the budgeted cash flows for the upcoming year. Total cash receipts Total cash disbursements Additional information: A minimum cash balance of $10,000 is required. The company may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company's beginning cash balance for the upcoming fiscal year will be $36,000. The company is permitted to borrow any amount at the beginning of any quarter and is also permitted to 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 (assume that interest is not compounded). Required: Complete the company's cash budget for the upcoming fiscal year. (Cash deficiency, repayments, and interest, should be indicated by a minus sign.) Some Company Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Beginning cash balance Total cash receipts Total cash available Less total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest Total financing Ending cash balance 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $260,000 $410,000 $290,000 $310,000 $316,000 $286,000 $276,000 $296,000

          You have been given the following information about Some Company that is working on its budget for the upcoming fiscal year.
The table below contains the summary of the budgeted cash flows for the upcoming year.
Total cash receipts
Total cash disbursements
Additional information:
A minimum cash balance of $10,000 is required.
The company may borrow any amount needed from a local bank at a quarterly interest rate of 3%.
The company's beginning cash balance for the upcoming fiscal year will be $36,000.
The company is permitted to borrow any amount at the beginning of any quarter and is also permitted to 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 (assume that interest is not compounded).
Required:
Complete the company's cash budget for the upcoming fiscal year. (Cash deficiency, repayments, and interest, should be indicated by a minus sign.)
Some Company
Cash Budget
1st Quarter 2nd Quarter
3rd
Quarter
4th
Quarter
Year
Beginning cash balance
Total cash receipts
Total cash available
Less total cash disbursements
Excess (deficiency) of cash available over disbursements
Financing:
Borrowings
Repayments
Interest
Total financing
Ending cash balance
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
$260,000 $410,000 $290,000 $310,000
$316,000 $286,000 $276,000 $296,000

You have been given the following information about Some Company that is working on its budget for the upcoming fiscal year.
The table below contains the summary of the budgeted cash flows for the upcoming year.
Total cash receipts
Total cash disbursements
Additional information:
A minimum cash balance of 10,000 is required.
The company may borrow any amount needed from a local bank at a quarterly interest rate of 3%.
The company's beginning cash balance for the upcoming fiscal year will be36,000.
The company is permitted to borrow any amount at the beginning of any quarter and is also permitted to 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 (assume that interest is not compounded).
Required:
Complete the company's cash budget for the upcoming fiscal year. (Cash deficiency, repayments, and interest, should be indicated by a minus sign.)
Some Company
Cash Budget
1st Quarter 2nd Quarter
3rd
Quarter
4th
Quarter
Year
Beginning cash balance
Total cash receipts
Total cash available
Less total cash disbursements
Excess (deficiency) of cash available over disbursements
Financing:
Borrowings
Repayments
Interest
Total financing
Ending cash balance
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
260,000410,000 290,000310,000
316,000286,000 276,000296,000

Added by Josep E.

Question

Please give Ace some feedback