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Please provide formulas with solutions. A cash budget by quarters for the Carney Company is given below (note that some data are missing). Missing data
Please provide formulas with solutions.
A cash budget by quarters for the Carney Company is given below (note that some data are missing). Missing data amounts have been keyed with either question marks or lowercase letters (a, b, c, etc.); these lowercase letters will be referred to in the questions that follow. (It may be necessary to calculate a value for items where a question mark appears.) A zero amount is designated by a dash (-). The company requires a minimum cash balance of at least $10,000 to start a quarter. All data are in thousands of dollars. Quarters 1 $16 $a $? 2 $e $70 $? 3 $13 $67 $80 4 $10 $80 $90 Cash balance, beginning Add: collections from customers Total cash available Less: disbursements Purchase of inventory Operating expenses Dividends Total disbursements Excess (deficiency) Financing: Borrowings Repayments (including interest) Total financing Cash balance, ending $31 $10 $- $76 $7 $c $14 $6 $? $17 $40 $19 $- $f $(2) $35 $- $5 $55 $35 $b $- $? $10 $- $d $? $? $12 $- $12 $10 $- $(16) $(16) $19 12. What is the borrowing required during the first quarter to meet the minimum cash balance (item b), in thousands of dollars? A. $0. B. $3. C. $7. D. $10. 13. What is the cash disbursed for purchases during the second quarter (item c), in thousands of dollars? A. $9. B. $13. C. $21. D. $55. 14. What is the repayment (including interest) of financing during the second quarter (item d), in thousands of dollars? A. $0. B. $4. C. $7. D. $17. 15. What is the cash balance at the beginning of the second quarter (item e), in thousands of dollars? A. $0. B. $7. C. $10. D. $14. 16. What are the total disbursements during the third quarter (item f), in thousands of dollars? A. $59. B. $78. C. $82. D. $84. 17. What are the total collections from customers for the year, in thousands of dollars? A. $260. B. $277. C. $290. D. $284Step by Step Solution
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