Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Homework: Topic 8 - Assignment Save Score: 0 of 1 pt 5of5 (4 complete) HW Score: 77.14%, 3.86 of 5 pts backup or even a
Homework: Topic 8 - Assignment Save Score: 0 of 1 pt 5of5 (4 complete) HW Score: 77.14%, 3.86 of 5 pts backup or even a hard copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the b Incomplete budget (Click the icon to view information on borrowing cash) Requirements Complete the following cash budget. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell. Enter cash when the amount is a net outflow. Round interest expense to the nearest whole dollar.) February March- S 16,700 Beginning cash balance Plus: Cash collections Plus: Cash from sale of plant assets Total cash available Less: Cash payments (purchase inventory) Less: Cash payments (operating expenses) Total cash payments (1) Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) Financing 79,900 2,300 Backyard Adventures Combined Cash Budget February and March S 107,200 57S 41,000 47,600 98,100 February Beginning cash balance Plus: Cash collections Plus: Cash from sale of plant assets Total cash available Less: Cash payments (purchase inventory) 16,700 SS 28,700 23,000 S ? 107.200 23,000 47.600 Enter any number in the Plus: New borrowings More Into 1 Peamaining Print Done Backyard Adventures eliminates any cash deficiency by borrowing the exact amount needed from State Street Bank, where the current interest rate is 6%. Backyard Adventures pays interest on its outstanding debt at the end of each month. The company also repays all borrowed amounts at the end of the month as cash becomes available Windows n Homework: Topic 8 - Assignment Score: 0 of 1 pt E9-53B (similar to) 5 015 (4 complete) HW Score: 77.14%, 3 86 of 5 pts Incomplete budget You recently began a job as an accounting intern at Backyard Adventures. Your first task was to help preparethecash budget for Fe backup or even a hard copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the bud otal cash available Less Cash payments (purchase inventory) Less Cash payments (operating expenses Total cash payments (1) Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) Financing. (Click the icon to view information on borrowing cash.) Requirements Complete the following cash budget (For amounts with a SO balance make sure to enter "O" in the appropriate cell when the amount is a net outflow Round interest expense to the nearest whole dollar) $?S 41,000 Enter cash 47.600 S 98.100 S? Less: Cash payments (purchase inventory) Less: Cash payments (operating expenses) Total cash payments (1) Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) Financing S7S 28,700 23,000 47,600 23.000 98,100 S? 23,000 S? Plus: New borrowings Less: Debt repayments Less: Interest payments S ? Plus: New borrowings Less: Debt repayments Less: Interest pavments (2) Total effects of financing S? S? Ending cash balance (1)(2) Enter any number in the edi and Answer Print Done part Wind remaining " Clear All Answer Score: 0 of 1 pt 5 of 5 (4 complete) HW Score: 77.14%, 3.86 of 5 p E9-53B (similar to) Question Help You recently began a job as an accounting intern at Backyard Adventures. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with the budget file crashed, and you did not have a backup or even a hard copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you may have just enough information to reconstruct the budget. (Click the icon to view information on borrowing cash.) Requirements Complete the following cash budget (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell. Enter caIncomplete budget when the amount is a net outflow. Round interest expense to the nearest whole dollar) Total cash payments s sign (1) Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) Financing Beginning cash balance Plus. Cash collections Plus: Cash from sale of plant assets Total cash available Less: Cash payments (purchase inventory) Less: Cash payments (operating expenses) Total cash payments (1) Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) S 16,700 23,000 79,900 2,300 107.200 Plus: New borrowings Less: Debt repayments Less: Interest payments S7S 41,000 47,600 98,100 (2) Total effects of financing Ending cash balance (1) (2) Enter any number in the edit f S7S 28,700 23,000 23,000 5 ? and Check Answer Homework: Topic 8 - Assignment Save Score: 0 of 1 pt 5of5 (4 complete) HW Score: 77.14%, 3.86 of 5 pts backup or even a hard copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the b Incomplete budget (Click the icon to view information on borrowing cash) Requirements Complete the following cash budget. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell. Enter cash when the amount is a net outflow. Round interest expense to the nearest whole dollar.) February March- S 16,700 Beginning cash balance Plus: Cash collections Plus: Cash from sale of plant assets Total cash available Less: Cash payments (purchase inventory) Less: Cash payments (operating expenses) Total cash payments (1) Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) Financing 79,900 2,300 Backyard Adventures Combined Cash Budget February and March S 107,200 57S 41,000 47,600 98,100 February Beginning cash balance Plus: Cash collections Plus: Cash from sale of plant assets Total cash available Less: Cash payments (purchase inventory) 16,700 SS 28,700 23,000 S ? 107.200 23,000 47.600 Enter any number in the Plus: New borrowings More Into 1 Peamaining Print Done Backyard Adventures eliminates any cash deficiency by borrowing the exact amount needed from State Street Bank, where the current interest rate is 6%. Backyard Adventures pays interest on its outstanding debt at the end of each month. The company also repays all borrowed amounts at the end of the month as cash becomes available Windows n Homework: Topic 8 - Assignment Score: 0 of 1 pt E9-53B (similar to) 5 015 (4 complete) HW Score: 77.14%, 3 86 of 5 pts Incomplete budget You recently began a job as an accounting intern at Backyard Adventures. Your first task was to help preparethecash budget for Fe backup or even a hard copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the bud otal cash available Less Cash payments (purchase inventory) Less Cash payments (operating expenses Total cash payments (1) Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) Financing. (Click the icon to view information on borrowing cash.) Requirements Complete the following cash budget (For amounts with a SO balance make sure to enter "O" in the appropriate cell when the amount is a net outflow Round interest expense to the nearest whole dollar) $?S 41,000 Enter cash 47.600 S 98.100 S? Less: Cash payments (purchase inventory) Less: Cash payments (operating expenses) Total cash payments (1) Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) Financing S7S 28,700 23,000 47,600 23.000 98,100 S? 23,000 S? Plus: New borrowings Less: Debt repayments Less: Interest payments S ? Plus: New borrowings Less: Debt repayments Less: Interest pavments (2) Total effects of financing S? S? Ending cash balance (1)(2) Enter any number in the edi and Answer Print Done part Wind remaining " Clear All Answer Score: 0 of 1 pt 5 of 5 (4 complete) HW Score: 77.14%, 3.86 of 5 p E9-53B (similar to) Question Help You recently began a job as an accounting intern at Backyard Adventures. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with the budget file crashed, and you did not have a backup or even a hard copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you may have just enough information to reconstruct the budget. (Click the icon to view information on borrowing cash.) Requirements Complete the following cash budget (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell. Enter caIncomplete budget when the amount is a net outflow. Round interest expense to the nearest whole dollar) Total cash payments s sign (1) Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) Financing Beginning cash balance Plus. Cash collections Plus: Cash from sale of plant assets Total cash available Less: Cash payments (purchase inventory) Less: Cash payments (operating expenses) Total cash payments (1) Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency) S 16,700 23,000 79,900 2,300 107.200 Plus: New borrowings Less: Debt repayments Less: Interest payments S7S 41,000 47,600 98,100 (2) Total effects of financing Ending cash balance (1) (2) Enter any number in the edit f S7S 28,700 23,000 23,000 5 ? and Check
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