Question
Cash Budget & Short-Term Financing Presented below are partial October, November, and December cash budgets for Holidays Events. Loans are obtained in increments of $1,000
Cash Budget & Short-Term Financing Presented below are partial October, November, and December cash budgets for Holidays Events.
Loans are obtained in increments of $1,000 at the start of each month to maintain a minimum end-of-month balance of $12,000. Interest is 1% simple interest (no compounding) per month, payable when a loan payment is made. Repayments are made as soon as possible, subject to the minimum end-of-month balance.
Complete the short-term financing section of the cash budget and all missing figures.
Use a negative sign with answers to indicate a cash disbursement or a negative ending cash balance.
HOLIDAY EVENTSPartial Cash BudgetsFor the Months of October, November, and December OctoberNovemberDecemberTotalCash balance, beginning $25,000Answer
Answer
Answer
Collection on sales 100,00090,000140,000
Answer
Cash available for operations
Answer
Answer
Answer
Answer
Disbursements for operations (115,000)(110,000)(115,000)
Answer
Ending cash before borrowings or replacements
Answer
Answer
Answer
Answer
Short-term finance: New loans
Answer
Answer
Answer
Answer
Repayments
Answer
Answer
Answer
Answer
Interest
Answer
Answer
Answer
Answer
Cash balance, ending
Answer
Answer
Answer
Answer
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial Statements The Ultimate Guide To Financial Statements Analysis For Business Owners And Investors
Authors: Greg Shields
1st Edition
172643320X, 978-1726433204
