Question
Please help me find the BUD. OTHER REV(EXP) I need to know the interest expense based on the following: OTHER DATA TO COMPLETE BUDGETS: Monthly
Please help me find the BUD. OTHER REV(EXP) I need to know the interest expense based on the following: OTHER DATA TO COMPLETE BUDGETS: Monthly Dividends paid each month: $2,000. Purchased new Equipment on April 1, 2025 for $60,000 with a $10,000 down payment and the remainder on a 4 year, 5% Note Payable paid monthly starting on April 30th. The Equipments useful life is 4 years with a $15,000 residual value and uses a SLN (Straight-Line) Depreciation Method. (Need both a FULL Depreciation Schedule and a FULL Loan Amortization Schedule, if needed.) Cash Flow Statement MINIMUM DESIRED CASH BALANCE OF $25,000 (If needed calculate additional monies needed due to a deficiency or if there is an Excess then make payment based on total excess to reduce ending cash to the $25,000 minimum until you have paid off the Line of Credit. You will need to calculate the interest to be paid each month based on an annual rate of 6% using your Line of Credit Worksheet in your Budget Worksheet.
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