X E9-33A (similar to) B Question Help You recently began a job as an accounting intern at Rocky Adventures. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with the budget file crashed, and you did not have a backup or even a hard copy, You ran a program to salvage bits of data from the budget file. After entering the following data in the budget, you may have just enough information to reconstruct the budget. (Click the icon to view information on borrowing cash.) Requirements Complete the following cash budget. (For amounts with a $0 balance, make sure to enter "O' in the appropriate input field. Enter cash deficiencies with a minus sign or parentheses. Enter the net total effects financing with a minus sign when the amount is a net outflow. Round interest expense to the nearest whole dollar.) Rocky Adventures Combined Cash Budget i More Info February and March February $ Beginning cash balance Plus: Cash collections 16,900 90,400 Rocky Adventures eliminates any cash deficiency by borrowing the exact amount needed from State Street Bank, where the current interest rate is 7%. Rocky Adventures pays interest on its outstanding debt at the end of each month. The company also repays all borrowed amounts at the end of the month as cash becomes available. 0 Plus: Cash from sale of plant assets $ 107,300 59900 Print Done 47,400 Total cash available Less: Cash payments (purchase inventory) Less: Cash payments (operating expenses) Total cash payments (1) Ending cash balance before financing $ 97,900 S 9,400 Enter any number in the edit fields and then click Check Answer. ? X E9-33A (similar to) Question Help You recently began a job as an accounting intem at Rocky Adventures. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with the budget file crashed, and you did not have a backup or even a hard copy. You ran a program to salvage bits of data from the budget file. After entering the following data in the budget you may have just enough information to reconstruct the budget. (Click the icon to view information on borrowing cash.) Requirements Complete the following cash budget. (For amounts with a $0 balance, make sure to enter "C" in the appropriate input field. Enter cash deficiencies with a minus sign or parentheses. Enter the net total effects of financing with a minus sign when the amount is a net outflow. Round interest expense to the nearest whole dollar.) Less: Cash payments (operating expenses) Total cash payments (1) Ending cash balance before financing 47.400 97,900 $ A More Info S 9,400 23,000 Minimum cash balance desired 13600 Rocky Adventures eliminates any cash deficiency by borrowing the exact amount needed from State Street Bank, where the current interest rate is 7%. Rocky Adventures pays interest on ils outstanding debt at the end of each month. The company also repays all borrowed amounts at the end of the month as cash becomes available. $ 13,600 Cash excess (deficiency) Financing: Plus: New borrowings Less: Debt repayments Less: Interest payments (2) Total effects of financing 13600 Print Done 952 -952 12645 Ending cash balance (1) + (2) Enter any number in the edit fields and then click Check
