Chapter 8 in class examples - Pt III Required: Prepare the Cash Budget and the Budgeted Income Statement for Royale Con Queso Records, based on the supporting budgets you have previously completed CASH BUDGET Ending cash balance @ March 31st $ 50,000 Minimum target cash balance $ 50,000 Credit Line $ 100,000 Interest rate per annum (an annual interest rate) 10% paid at the end of the quarter Dividends (paid in April) $ 10,000 Purchases of equipment (paid with cash) in the amount of $ 259,000 are budgeted for May Borrowings are assumed to be at beginning of month, repayments at the end of the month (both must be done in increments of $1,000) April May June Quarter Cash Balance Direct Materials Direct Labor Manufacturing Overhead Selling and Administrative Shipment Dividends Total Disbursements Chapter 8 in class examples - Pt III Required: Prepare the Cash Budget and the Budgeted Income Statement for Royale Con Queso Records, based on the supporting budgets you have previously completed CASH BUDGET Ending cash balance @ March 31st $ 50,000 Minimum target cash balance $ 50,000 Credit Line $ 100,000 Interest rate per annum (an annual interest rate) 10% paid at the end of the quarter Dividends (paid in April) $ 10,000 Purchases of equipment (paid with cash) in the amount of $ 259,000 are budgeted for May Borrowings are assumed to be at beginning of month, repayments at the end of the month (both must be done in increments of $1,000) April May June Quarter Cash Balance Direct Materials Direct Labor Manufacturing Overhead Selling and Administrative Shipment Dividends Total Disbursements