matnxi.com Silden Player HomeWOIKaspx?homeworkId=685909821&stand tushed=tulos Cideo 32390 18 centarwin=yes Spring 2021 ACCT 212 - Managerial Accounting Declan Quinn & 03/23/21 8:51 PM Save Homework: Chapter 9 Homework Score: 0 of 4 pts 6 of 8 (0 complete) HW Score: 0%, 0 of 25 pt E9-32A (similar to) Question Help Alderman Health Center provides a variety of medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are (Click the icon to view the expected transactions.) Requirement Prepare a combined cash budget for Alderman Health Center for the third quarter, with a column for each month and for the quarter total. (1 an input fland is not used in the table leave the input field empty, do not enter a zero. Use parentheses or a minus sign for negative ending cash balancen.) Combined Cash Budget For the Months of July through September expected to occur July Beginning balance of cash Plus: Canh collections Total cash available Loss Cash payments Ending cash balance before financing Financing Plus: New borrowings Les Debt repayments Less interest payments Ending cash bilance Enter any number in the edit fields and then click Check Answer Clear All Check Answer 3 parts remaining the icon to view the expected transactions.) ment a comb More Info leave His a. Cash collections from services in July, August, and September, are projected to be $92,000, $155,000, and $128,000 respectively. b. Cash payments for the upcoming third quarter are projected to be $143,000 in July, S105,000 in August, and $139,000 in inning ba September : Cash c. The cash balance as of the first day of the third quarter is projected to be $34,000 d. The health center has a policy that it must maintain a minimum cash balance of $26,000. al cash a The health center has a line of credit with the local bank That allows it to borrow funds in months that it would not otherwise S: Cash have its minimum balance. If the company has more than its minimum balance at the end of any given month, it uses the nding cash excess funds to pay off any outstanding line of credit balance. Each month, Alderman Health Center pays interest on the prior month's line of credit ending balance. The actuat interest rate that the health center will floats since it is to the prime inancing rate. However, the interest paid during the budget period is expected to be 1% of the prior month's line of credit onding balance (if the company did not have an outstanding balance at the end of the prior month, then the health center does not Plus: New have to pay any interest). All line of credit borrowings are taken or paid off on the first day of the month. As of the first day of Los Debt the third quarter, Alderman Health Center did not have a balance on its line of credit Less: inter Print Done Ending canh ter any number in the odit fields and then click Check
