A cash budget, by quarters, is given below for a retail company (000 omitted). The...
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Accounting
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 (000 omitted) (000 omitted) 1 2 3 4 Year Cash balance, beginning $ 8 Add collections from customers 110 400 Total cash available 94 Less disbursements: Purchase of inventory 49 59 33 Selling and administrative expenses 45 30 130 Equipment purchases 12 9 24 55 Dividends 2 2 2 2 Total disbursements 115 (1) 5 17 Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments (including interest) * Total financing Cash balance, ending *Interest will total $1,000 for the year. (20)
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