Please answer all questions.

Problem 24-01 A rm has the following monthly pattern of sales: January $ 100 February 200 March 400 April 1,000 May 400 June 200 Sixty percent of the sales are on credit and are collected after a month. The company pays wages each month that are 55 percent of sales and has xed disbursements (for example, rent) of $100 a month. In March it receives $200 from a bond that matures; in April and June it makes a tax payment of $200. Management maintains a cash balance of $100 at all times. Construct a cash budget that indicates the firm's monthly needs for short-term nancing. Its beginning cash position is $100. Round your answers to the nearest dollar: Enter the disbursements values in Part 2 and desired level of cash in Part 3 as positive values. Use a minus sign to enter cash outows, shortage of cash values, negative initial and ending cash positions in Part 3, if any. Do not leave any cells blank. If the answer is zero, enter "0". Part 1 January February March April May June Anticipated sales 15 $ $ $ $ 35 Cash sales $ $ $ $ $ $ Accounts collected 1; $ $ $ $ $ Other receipts $ $ $ $ $ $ Total receipts $ $ $ $ $ $ Part 2 Variable disbursements $ $ $ $ $ $ Fixed disbursements $ $ $ $ $ $ Other disbursements $ $ $ $ $ $ Total cash disbursements $ $ $ $ $ $ Part 3 Net change in cash 15 $ $ $ $ $ Initial cash position $ $ $ $ $ $ Ending cash position $ $ $ $ $ $ Desired level of cash 1; $ $ $ $ :5 Excess (shortage) of cash $ $ $ $ $ $ 2. Problem 24-02 Problem 24-02 Management wants to know if there will be a need for short-term nancing in February. Essential information is as follows: Estimated sales for January and February are $1.1 million and $650,000, respectively. Fifty percent of sales are for cash and 50 percent are credit sales that are collected the next month. Cash disbursements that vary with sales are 35 percent of sales. Fixed operating disbursements are $200,000 a month. Depreciation expense is $20,000 a month. A tax payment of $100,000 is due in January. A bond payment of $300,000 is owed and will be due in February. F'PrnPP-PP'P' The cash balance at the beginning of January is $14,000. Management seeks a minimum cash balance of $13,000. j. December credit sales were $120,000. Round your answers to the nearest dollar. Use a minus sign to enter shortage of cash, if any. January February Excess (shortage) of cash $ $ The rm -Select- B need short-term funds in February. 3. Problem 24-03 Problem 24-03 Redo the cash budget shown in the table below. May Part 1 1 Anticipated sales $16,000 2 Cash sales 6,400 3 Accounts collected (one-month lag) 4 Accounts collected (two-month lag) 5 Other cash receipts 6 Total cash receipts 6,400 Part 2 7 Variable cash disbursements 2,000 8 Fixed cash disbursements 4,000 9 Other cash disbursements 10 Total cash disbursements 6,000 Part 3 11 Cash gain (or loss) during the month (line 6 minus line 10) 12 Cash position at beginning of month 12,000 13 Cash position at end of month 12,400 (line 12 plus line 11) 14 Less desired level of cash (12,000) 15 Cumulative excess (or shortage) 400 of cash (line 13 plus line 14) June $21,000 8,400 8,640 9,000 26,040 28,000 4,000 32,000 (5,960) 12,400 6,440 (12,000) (5,560) July $32,000 12,800 11,340 960 25,100 39,000 4,000 43,000 (17,900) 6,440 (1 1,460) (12,000) (23,460) Aug. $51,000 20,400 17,280 1,260 38,940 34,000 4,000 2,000 40,000 (1,060) (1 1,460) (12,520) (12,000) (24,520) Sept. $40,000 16,000 27,540 1,920 45,460 15,000 4,000 3,500 22,500 22,960 (12,520) 10,440 (12,000) (1,560) Oct. $21,000 8,400 21,600 3,060 33,060 6,000 4,000 10,000 23,060 10,440 33,500 (12,000) 21,500 Nov. $9,000 3,600 11,340 2,400 17,340 2,000 4,000 6,000 11,340 33,500 44,340 (12,000) 32,840 Dec. 4,860 1,260 Jan. 540 15 Cumulative excess (or shortage) 400 (5,560) (23,460) (24,520) (1,560) 21,500 32,840 of cash (line 13 plus line 14) a. Assume that the desired minimum level of cash is $4,000 instead of $12,000. What is the change in the rm's need for funds? Round your answers to the nearest dollar. Enter the disbursements values in Part 2 as positive values. Use a minus sign to enter cash outflows, subtraction of the desired level of cash, shortage of cash values, negative beginning and ending cash positions in Part 3, if any. Do not leave any cells blank. If the answer is zero, enter "0". Part 1 May June July August September October November Anticipated sales 15 $ $ $ $ $ 15 Cash sales 1; $ $ $ $ $ $ Accounts collected (one-month lag) $ $ $ $ $ $ $ Accounts collected (two-month lag) $ $ $ $ $ $ $ Other cash receipts $ $ $ $ $ $ $ Total cash receipts $ $ $ $ $ $ $ Part 2 Variable cash disbursements $ $ $ $ $ $ $ Fixed cash disbursements $ $ $ $ $ $ $ Other cash disbursements $ $ $ $ $ $ $ Total cash disbursements $ $ $ $ $ $ $ Part 3 Cash gain (or loss) during the $ $ $ $ $ $ $ month Cash position at beginning of month$ $ $ $ $ $ $ Cash position at end of month :1; $ $ $ $ $ $ Less desired level of cash 1: $ $ $ $ $ $ Cumulative excess (or shortage) of $ $ $ $ $ $ $ cash b. Assume that 70 percent of sales are for cash instead of 40 percent and the pattern of collections remains the same (90 percent after one month and 10 percent after two months). What is the change in the rm's need for funds? Round your answers to the nearest dollar. Enter the disbursements values in Part 2 as positive values. Use a minus sign to enter cash outows, subtraction of the desired level of cash, shortage of cash values, negative beginning and ending cash positions in Part 3, if any. Do not leave any cells blank. If the answer is zero, enter "0". Part 1 May June July August September October November Anticipated sales $ $ $ $ $ $ $ Cash sales 15 $ $ $ $ $ $ Accounts collected (one-month lag) $ $ $ $ $ $ $ Accounts collected (two-month lag) is $ $ $ $ $ $ Other cash receipts $ $ $ $ $ $ $ Total cash receipts $ $ $ $ $ $ $ Part 2 Variable cash disbursements $ $ $ $ $ $ $ Fixed cash disbursements $ $ $ $ $ $ $ Other cash disbursements $ $ $ $ $ $ $ Total cash disbursements $ $ $ $ $ $ 15 Part 3 Cash gain (or loss) during the $ $ $ $ $ $ $ month Cash position at beginning of month$ $ $ $ $ $ 15 Cash position at end of month 15 $ $ $ $ $ $ Less desired level of cash :1; $ $ $ $ $ $ Cumulative excess (or shortage) of $ $ $ $ $ $ $ cash c. Assume that both the desired minimum level of cash and sales change as in parts a and b. What is the revised cash budget's "bottom line"? Round your answers to the nearest dollar. Use a minus sign to enter shortage values, if any. May June July August September October November Cumulative excess (or shortage) of $ $ $ $ $ $ 1; cash Problem 24-04 Given the following information, complete the cash budget: Collections occur one month alter the sale. January's credit sales were $100,000. The rm has a certicate of deposit for $30,000 that matures in April. Salaries are $155,000 a month. e. The monthly mortgage payment is $20,000. f. Monthly depreciation is $20,000. 9. Property tax of $25,000 is due in February. 0.059! Round your answers to the nearest dollar. Enter the disbursements values as positive values. Use a minus sign to enter shortage of cash, negative beginning and ending cash values, if any. Do not leave any cells blank. If the answer is zero, enter "0". February March April 140,000 200,000 260,000 40,000 25,000 80,000 Sales Cash sales Collections Other receipts Total cash receipts Salaries Mortgage Other disbursements Total cash disbursements Net change during the month Beginning cash Ending cash 40,000 Required level of cash 10,000 10,000 10,000 w Excess cash or (shortage) - All sales are for credit and collections occur after 30 days. - A $110,000 Treasury bill matures in March. - Monthly xed disbursements are $30,000. - Variable disbursements are 45 percent of sales and occur one month prior to sales. (Variable cash disbursements are given for April.) - A tax payment of $40,000 is due in April. - A payment of $70,000 is to be received in February. - The initial cash is $30,000. - The minimum required cash balance is $8,000. Enter the disbursements values and required level of cash as positive values. Use a minus sign to enter cash outflows, shortage of cash values, negative beginning and ending cash positions, if any. Do not leave any cells blank. If the answer is zero, enter "0". January February March April Sales 170,000 $ 190,000 $ 170,000 Cash sales Collections Other receipts Total cash receipts Variable disbursements 50,000 Fixed disbursements Other disbursements Total cash disbursements --hi-h m'mmmmmlmlmm mammmmmmm mmmmmmmmm Net change during the month Beginning cash $ 30,000 $ Ending cash :1: ' $ Required cash 15 8,000 $ Excess (shortage) of cash 35 , $ $ $ arm-en \"(-W a. At the end of March, what are the rm's (1) accounts receivable, (2) marketable securities, and (3) accounts payable? Assume that the variable disbursements for April are owed at the end of March. Assume that excess cash may be invested in short-term securities. Round your answers to the nearest dollar. Accounts receivable: $ b. What is the maximum amount that the rm may have to borrow? Round your answer to the nearest dollar. Enter your answer as a positive value. $ c. If the rm used accelerated depreciation instead of straiaht-line depreciation. how would that affect the cash budget? - vallaulc ulcuuloclllcllLo alc 1.; Vacant u. sums allu ow... we mum\" pnu. w sums. \\vallaulc can" ulauulacnlclna alc gnu. .v. np...., A tax payment of $40,000 is due in April. A payment of $70,000 is to be received in February. The initial cash is $30,000. The minimum required cash balance is $8,000. Enter the disbursements values and required level of cash as positive values. Use a minus sign to enter cash outflows, shortage of cash values, negative beginning and ending cash positions, if any. Do not leave any cells blank. If the answer is zero, enter "0". January February March April Sales 170,000 $ 190,000 $ 170,000 Cash sales Collections Other receipts Total cash receipts Variable disbursements 50,000 Fixed disbursements Other disbursements Total cash disbursements -W-(---W'E- -h-(-W-(-(--W -h-'---h-h---h Net change during the month Beginning cash 30,000 $ Ending cash $ Required cash as 8,000 $ , ,, , Excess (shortage) of cash :1; $ $ $ * \"4-5-6!- ##4##} a. At the end of March, what are the rm's (1) accounts receivable, (2) marketable securities, and (3) accounts payable? Assume that the variable disbursements for April are owed at the end of March. Assume that excess cash may be invested in short-term securities. Round your answers to the nearest dollar. Accounts payable: $ b. What is the maximum amount that the rm may have to borrow? Round your answer to the nearest dollar. Enter your answer as a positive value. $ . c. If the rm used accelerated depreciation instead of straight-line depreciation, how would that affect the cash budget? Any tax benets associated with using accelerated depreciation may affect ~Select associated with tax payments, which would alter the cash budget