Incomplete cash budget You recently began a job as an accounting intern at Rockwall 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 4 information to reconstruct the budget. Rockwall Adventures eliminates any cash deficiency by borrowing the exact amount needed from State Street Bank, where the current interest rate is 6%. Rockwall Adventures pays interest on its outstanding debt at the end of each month. The company also repays all borrowed amounts at the 6 end of the month as cash becomes available. 8 The salvaged data can be found on the "CASHBUDGET" tab. 10 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you 11 copy/paste from the Instruction tab you will be marked wrong. 12 13 Requirement 14 1 Complete the cash budget. 15 . Use parentheses or a minus sign for any cash deficiencies. 16 b. Enter cash inflows as positive values. INSTRUCTIONS CASHBUDGET ENTERANSWERS o u A WN March 8 0,000 2,000 $41,400 Rockwall Adventures Combined Cash Budget February and March February 7 Beginning cash balance $16,900 8 Plus: Cash collections 90,400 9 Plus: Cash from sale of plant assets 0 10 Total cash available $107,300 11 Less: Cash payments (purchase inventory) ($38,800) 12 Less: Cash payments (operating expenses) 47,700 13 Total cash payments $98,400 14(1) Ending cash balance before financing 15 Minimum cash balance desired 21,000 16 Cash excess (deficiency) 17 Financing: 18 Plus: New borrowings 19 Less: Debt repayments 20 Less: Interest payments 21 (2) Total effects of financing 22 Ending cash balance (1) + (2) $ 25,100 21,000 INSTRUCTIONS CASHBUDGET ENTERANSWERS Ready Type here to seare