Instructions SHOW WORK

The direct labor budget of the Corporation for the upcoming fiscal year includes the following budgeted direct labor-hours.

	1Q	2Q	3Q	4Q
Total Cash Receipts	$340,000	$670,000	$410,000	$485,000
Total Cash Disbursements	$530,000	$450,000	$430,000	$492,000

The company's beginning cash balance for the upcoming fiscal year will be $45,000. The company requires a minimum cash balance of $30,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 5%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid.

Required create and upload an Excel spreadsheet showing the following (remember to show adequate work and use appropriate calculations):

Prepare the company's cash budget for the upcoming fiscal year. Columns must contain each quarter, Rows should contain: beginning balance, cash receipts, cash available, case disbursements, excess/deficiency of cash, a financing section( with borrowing, repayments and interest) and the ending cash balance.