Prepeare the cash budget for the first quarter.

Assume the following:

1. Alberto started the year with $17,700.00 in it's bank account and must maintain a cash balance of $11,000.00 at the end of each month.

2. Alberto's has access to an open line of credit with the bank to borrow if needed. To keep things simple, ignore interest calculations on the bank borrowings. Also, loan borrowings are taken in multiples of $1,000.00

3. Alberto's maintains that it will repay loans as soon as possible with any excess cash that becomes available.

4. Alberto's has budgeted the following:

• Payment for operating expenses = $97,600.00 each month.
• Depreciation expense is $6,800 per month.
• Alberto's will need to purchase new ovens. The total cost of the ovens is $185,000.00 Alberto's will pay $130,000.00 in January and the remainder in February.
• Cash Dividends of $14,400.00 will be paid to shareholders in February and March

Alberto's Pizza Inc.
Cash Budget
For the Quarter Ending March 31, 2021
	January	February	March	Quarter
Beginning Cash
Cash Receipts
Cash Collected from Sales
Total Cash Available
Cash Payments
Payments for Inventory
Payments for Operating Expenses
Purchase of Ovens
Dividends
Total Cash Payments
Cash Excess OR (Deficit)
Financing Requirements
Borrow Loan
Loan Repayments
Ending Cash Balance