Acct301 week2

6 The accountant for Finch's Dress Shop prepared the following cash budget Finch's desires to maintain a cash cushion of $20,000 at the end of each month. Funds are assumed to be borrowed and repaid on the last day of each month. Interest is charged at the rate of 2 percent per month. 5 points Required a. Complete the cash budget by filling In the missing amounts. b. Determine the amount of net cash flows from operating activities Finch's will report on the third quarter pro forma statement of cash flows. -Book c. Determine the amount of net cash flows from financing activities Finch's will report on the third quarter pro forma statement of cash flows. Hint Complete this question by entering your answers in the tabs below. Ack Reg A Req B and C Print Complete the cash budget by filling in the missing amounts. (Any shortages or repayments should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) References Cash Budget July August September Section 1: Cash receipts Beginning cash balance 5 45,500 Add cash receipts 186,000 206,000 246,600 Total cash available 231.500 Section 2: Cash payments For inventory purchases 168.528 143,230 177,152 For S&A expenses 57.500 63.580 64.432 For interest expense 0 Total budgeted disbursements 226,026 Section 3: Financing activities Surplus (shortage 5.474 Borrowing (repayments) 14.528 Ending cash balance $ 20.000 5 20,000 $ 20.000 Req B and C >