18 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: 5.26 points 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 190,000 $ 340,000 $ 220,000 $ 240,000 Total cash disbursements $ 267,000 $ 237,000 $ 227,000 $ 247,000 The company's beginning cash balance for the upcoming fiscal year will be $22,000. 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 repoid. 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.) eBook Mint Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year References Beginning cash balance Total cash receipts Total cash available Total cash disbursements Excess (deficiency of cash available over disbursements Financing Borrowings Repayments Interest Total financing Ending cash balance 19 The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year. 5.32 points Cash Accounts receivable Supplies inventory Equipment Accumulated depreciation Accounts payable Common stock Retained earnings Ending Balances ? $ 9,300 $ 3,000 $ 40,000 $ 16,200 $ 3.000 $ 5,000 eBook Hint The beginning balance of retained earnings was $29,000, net income is budgeted to be $19,000, and dividends are budgeted to be $5,600 Required: Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Print References Mecca Copy Budgeted Balance Sheet Assets Current assets Total current assets Plant and equipment 19 Prepare the company's budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.) Mecca Copy Budgeted Balance Sheet 5.32 points Assets Current assets: eBook Total current assets Plant and equipment: Print References Plant and equipment, net Total assets Liabilities and Stockholders' Equity Current liabilities: Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity