Excel McGraw Hill Excel Question Saved Search (Option + Q File Home Insert Draw Formulas Data Review View Help Editing Calibri B Merge General A1 1 Xx Accessibility tab summary: Two data tables for Kayak Company are presented in cells A5 to C8 and E10 to H12. A stateme A B C D E F G 2 Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash 3 payments for loan principal and interest payments) for the first three months of next year. 4 5 6 January 7 February 8 March 9 Cash Receipts $525,000 Cash payments $475,000 400,000 350,000 450,000 $25,000 10 Kayak requires a minimum cash balance of $30,000 at each month-end. Loans taken to 11 meet this requirement charge 1% interest per month, paid at each month-end. The 12 interest is computed based on the beginning balance of the loan for the month. Any 13 preliminary cash balance above $30,000 is used to repay loans at month-end. The 14 company has a cash balance of $30,000 and a loan balance of $60,000 at January 1. 15 16 Required: 17 Prepare monthly cash budgets for January, February, and March, 18 H Minimum Cash Balance interest rate. Monthly January 1 Cash balance January 1 loan balance $30,000 1% $30,000 $60,000 19 (Use cells A5 to 114 from the given information to complete this question. Negative balances and Loan repayment amounts (if any) 20 should be indicated with minus sign. Negative amounts or amounts to be deducted should be input and displayed as negative values. All 21 other answers should be input and displayed as positive values.) 22 23 24 25 KAYAK COMPANY Cash Budget January February March. 26 Beginning cash balance 27 28 Total cash available $30,000 $30,000 $69,746 $25,000 400,000 450,000 $55,000 430,000 527,746 29 Less: Cash payments for 30 All items excluding interest 600 31 Interest on loan 32 Total cash payments 33 Preliminary cash balance BGraded Worksheet Calculation Mode: Automatic Workbook Statistics Excel McGraw Hill Excel Question - Saved Search (Option Q File Home Insert Draw Formulas Data Review View Help Editing Calibri Merge General A1 S Accessibility tab summary: Two data tables for Kayak Company are presented in cells A5 to C8 and E10 to H12. A statement of requirement is presentec G H K B D E 25 26 Beginning cash balance 27 28 Total cash available January February March $30,000 $30,000 569,746 525,000 400,000 450,000 $55,000 430,000 527,746 29 Less: Cash payments for 30 All items excluding interest 600 31 Interest on loan 32 Total cash payments 33 Preliminary cash balance 34 Loan activity 35 36 Ending cash balance 37 38 Loan balance-Beginning of month 39 Additional loan (loan repayment) 40 Loan balance, end of month 41 42 43 Loan balance 44 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work 45 Nothing in this area will be graded, but it will be submitted with your assignment. 46 47 48