Forest outfitters is a retailer that is preparing its

Assignment Help Accounting Basics

Reference no: EM13482892

Forest Outfitters is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows:

	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter
Total cash receipts	$ 434,000	$ 687,000	$ 421,000	$ 515,000
Total cash disbursements	$ 528,000	$ 409,000	$ 422,000	$ 474,000

The company's beginning cash balance for the upcoming fiscal year will be $57,900. The company requires a minimum cash balance of $30,200 and may borrow any amount needed from a local bank at a quarterly interest rate of 1.7%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid.

Required:

Complete the company's cash budget for the upcoming fiscal year. (Input all amounts as positive values except cash deficiency, repayments, and interest, which should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to the nearest dollar amount. Omit the "$" sign in your response.)

Forest Outfitters Cash Budget
	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter	Year
Cash balance, beginning	$	$	$	$	$
Total cash receipts

Total cash available
Less total cash disbursements

Excess (deficiency) of cash available over disbursements

Financing:
Borrowings (at beginning)
Repayments (at ending)
Interest

Total financing

Cash balance, ending	$	$	$	$	$

Reference no: EM13482892

Questions Cloud

What is the amount of uncollectible accounts expense for : classic auto parts sells new and used auto parts. although a majority of its sales are cash sales it makes a

Jodi horton president of the retailer crestline products : jodi horton president of the retailer crestline products has just approached the companys bank with a request for a

Indicate whether each of the following items is most : indicate whether each of the following items is most closely associated with the management discussion and analysis

An investment provides a 2 return semi-annually its : 1. an investment provides a 2 return semi-annually its effective annual rate is2. 4. 4.02. 4.04. 4.53.2. a year ago you

Forest outfitters is a retailer that is preparing its : forest outfitters is a retailer that is preparing its budget for the upcoming fiscal year. management has prepared the

Classify each item as an asset liability common stock : classify each item as an asset liability common stock revenue or expense.a issuance of ownership sharesb land

Based on the above information calculate the amount that : e8-2 inventoriable costs in your audit of jose oliva company you find that a physical inventory ondecember 31 2014

Identify each of the following organizational : identify each of the following organizational characteristics with the organizational form or forms with which it is

Now assume that the company can increase the capacity by : arney toy company manufactures large and small stuffed animals. it has a long-term contract with a large chain of

User Account

All Pages