50.1K

Verified Solution

Link Copied!

fill in blanks -

a-

b-

c-

etc.

Jason has been responsible for putting together his company's cash budget for the past three years. Initially, it was a frustrating task, as he had to dig into the underlying budgets and transactions to identify their effect on cash. But now he has mastered it. Consequently, his supervisor gives him a more challenging task: filling in a partially completed cash budget for the final quarter of the year, as follows. - Loan withdrawals or repayments must be made in $1,000 increments - Any loan draw is considered outstanding on the first day of the month it is drawn. Addition information: - Loan withdrawals or repayments must be made in $1,000 increments - Any loan draw is considered outstanding on the first day of the month it is drawn. - Any loan payment is considered made on the last day of the month in which it is paid. (a) Help Jason by filling in the missing components of the cash budget. (Enter cash deficiency and loan payments using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multirow[b]{2}{*}{ Beginning cash balance } & \multicolumn{2}{|c|}{ October } & \multicolumn{2}{|c|}{ November } & \multicolumn{2}{|c|}{ December } \\ \hline & & $20,600 & (f) $ & & & $20,57 \\ \hline Cash receipts & (a) & & & 320,300 & & 328,50 \\ \hline Cash available & (b) \$ & & & $340,585 & (k) \$ & \\ \hline \multicolumn{7}{|l|}{ Cash disbursements for: } \\ \hline DM purchases & (c) & & & 41,800 & (I) & \\ \hline DL and MOH & & 149,500 & (g) & & & 149,50 \\ \hline SG\&A expenses & & 121,200 & & 123,100 & (m) & \\ \hline \begin{tabular}{l} Purchase of long-term \\ investments \end{tabular} & & - & & 3,000 & & 17,20 \\ \hline \begin{tabular}{l} Total cash \\ disbursements \end{tabular} & & $314,700 & & $318,000 & (n) \$ & \\ \hline \begin{tabular}{l} Cash \\ surplus/(deficiency) \end{tabular} & & 21,300 & (h) & & & 20,67 \\ \hline \begin{tabular}{l} Loan balance beginning \\ of period \end{tabular} & & 3,000 & (i) & & & \\ \hline \begin{tabular}{l} Loan \\ withdrawals/(payments) \end{tabular} & & (1,000) & (j) & & (o) & \\ \hline \begin{tabular}{l} Loan balance end of \\ period \end{tabular} & (d) & & & - & (p) & \\ \hline Interest payments & & 15 & & 10 & & \\ \hline \begin{tabular}{l} Budgeted ending Cash \\ balance \end{tabular} & (e) $ & & & $20,575 & (q) & \\ \hline \end{tabular}

Answer & Explanation Solved by verified expert

See Answer