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 Ist Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 310,000 $ 300,000 $ 210.000 $ 200.000 Total cash disbursement 5.211.000 $ 151,000 $4,000 5.201.000 The company's beginning cash balance for the upcoming fiscal year will be $26.000 The company requires o minimum cash balance of $10,000 ond 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 loons, or any part of its loans, at the end of any quarter Interest payments are due on any principal at the time it is repold. 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.) Required: Prepare the company's cash budget for the upcoming fiscal year (Repayments, and interest, should be indicated by a minus sign.) Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year 0 0 0 0 0 0 0 0 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 0 O 0 0 0 0 $ $ $ 0 $ 0 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 Ist Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 310,000 $ 300,000 $ 210.000 $ 200.000 Total cash disbursement 5.211.000 $ 151,000 $4,000 5.201.000 The company's beginning cash balance for the upcoming fiscal year will be $26.000 The company requires o minimum cash balance of $10,000 ond 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 loons, or any part of its loans, at the end of any quarter Interest payments are due on any principal at the time it is repold. 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.) Required: Prepare the company's cash budget for the upcoming fiscal year (Repayments, and interest, should be indicated by a minus sign.) Garden Depot Cash Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year 0 0 0 0 0 0 0 0 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 0 O 0 0 0 0 $ $ $ 0 $ 0
