Preparing a Cash Budget with Supporting Schedules using Excel's Multi-Tab Cell Referencing and Basic Math Functions S\&P Enterprises has provided data from the first three months of the year. The Controller has asked you to prepare the Cash Budget and the related Schedules for Expected cash collections and Payments to suppliers. Use the information included in the Excel Simulation and the Exce functions described below to complete the task. - Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell on the Budget Data tab, "=85" was entered, the formula would output the result from cel B5, or 1,600 in this example. - Multi-Tab Cell Reference: Allows you to refer to data from another cell in a separate tab in the worksheet. When using the multi-tab ce reference, type the equal sign first, then click on the other tab and then click on the cell you want to reference. The syntax of a multi-tab cell reference looks different than a normal cell reference, since it includes the tab name surrounded by apostrophes and also an exclamation point before the cell location. From the Excel Simulation below, if in a blank cell on the Schedules and Cash Budget tab "-'Budget Data' 'C7" was entered, the formula would output the result from cell C7 in the Budget Data tab, or 33,750 in this example. - Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add), - (minus sign to subtract). "(asterisk sign to multiply), and / (forward slash to divide). From the Excel Simulation below, if in a blank cell on the Budget Data tab, "=B15+B16" was entered, the formula would add the values from those cells and output the result, or 34,000 in this example. If using the other math symbols the result would output an appropriate answer for its function. - SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell "=SUM(B10,B11,B12)" was entered, the formula would output the result of adding those three separate cells, or 97% in this example. Similarly, if in a blank cell "-SUM(B10:B12)" was entered, the formula w\$uld output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 97% in this example. Other budgeted cash disbursements in March Equipment purchases Dividends to be paid $14,000$2,000 Minimum cash balance to be maintained March 1 cash balance March 1 outstanding borrowings March 1 interest due $10,000 $11,500 $0 $0 The company has a line of credit available to bolster the cash balance as needed. When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. Click the Schedules and Cash Budget tab to prepare the following: 1. Schedule of expected cash collections for March. 2. Schedule of expected cash disbursements for inventory purchases for March. 3. Cash budget for March. Indicate in the financing section any borpwing that will be needed in March. Assume that Budget Data Schedules and Cash Budget READY 22 Budgeted selling \& administrative depreciation in March $3,200 Other budgeted cash disbursements in March The company has a line of credit available to bolster the cash balance as needed. When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. Click the Schedules and Cash Budget tab to prepare the following: 1. Schedule of expected cash collections for March. 2. Schedule of expected cash disbursements for inventory purchases for March. 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that any interest will not be paid until the following month
