16.500 S You recently began a job as an accounting intem al Regis 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 bils of data from the budget file. After entering the following cats in the budget you may have just enough information to reconstruct the budget. Click the icon to view information on barrawing cash.) Requirements Complete the following cash budget. (For amounts with a $0 balance, make sure to enter "O' in the appropriate input field. Enter cash deficiencies with a minus sign or parentheses. Enter the net total effects of financing with a minus sign when the amount is a net outflow. Round interest expense to the nearest whole dollar.) - X Incomplete budget - X Regis Adventures More Info Combined Cash Budget Regis Adventures February and March Cash Budget Regis Adventures eliminates any cash deficiency by borrowing the exact annount February needed from State Street Bank, where the current interest rate is 6%. Regis March February and March Adventures pays interest on its outstanding debt at the end of each month. The Beginning cash balance $ 25,000 February March company also repays all borrowed amounts at the end of the month as cast 90,500 Plus: Cash collections becomes avalable. 20,200 Beginning cash balance 18,500 $ $? 0 1,800 Plus: Cash from sale af plant assets Plus: Cash collections ? 80,200 $ 107,000 S Tatal cash available 107.000 D Plus: Cash from sale of plant assets 1800 Less: Cash payments purchase inventory) $ $ Total cash available $? 41.100 107,000 Print Done Less: Cash payments operating expenses) 47,800 37.600 Less: Cash payments (purchase inventory) $? S 41,100 $ Total cash payments 98.500 5 78,700 47,800 Less: Cash payments (operating expenses) Payments (1) Encing cash balance before financing $ 3 98,500 $? 28,300 Total cash payments 25,000 Minimum cash balance desired 25.000 (1) Ending cash balance before financing $?$ 28.300 $ (16.500) 3.300 25,000 Cash excess deficiency) 25.000 Minimum cash balance desired $2 $? Financing: Cash excess (deficiency) Plus: New borrowings $ 16,500 $ a Financing Less: Debt repayments D Plus: New borrowings $? $? 0 Less Interest payments 183) Less: Debt repayments 2 > 2 $ S 16,500 (2) Total effects of financing ? (3,300) Less: Interest payments $ $? 25000 S $? Ending cash balance (1) + (2) 25,000 (2) Total effects of financing $? $? Ending cash balance (1) + (2) 50,700 $ 8,500 5 Rogers Services, Inc., has $8,600 cash on hand on July 1. The company requires a minimum cash balance of $7,600. July cash collections are $548,480. Total cash payments for July are $566,500. Prepare a cash budget for July. How much cash, if any, will Rogers need to borrow by the end of July? Complete the cash budget below. (Use parentheses or a minus sign for negative ending cash balances or deficiencies.) Rogers Services, Inc. Combined Cash Budget For the Month Ended July 31 Beginning cash balance $ 8,600 548,480 Plus: Cash collections Total cash available 557,080 Less: Cash payments 566,500 Ending cash balance before financing (9,420) 17020 Minimum cash balance desired 7600 Cash excess (deficiency)
