Forest Outfitters is a retailer that is preparing its budget for the u (2).docx
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: The company\'s beginning cash balance for the upcoming fiscal year will be $64,600. The company requires a minimum cash balance of $30,100 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. 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. Complete the company\'s cash budget for the upcoming fiscal year. Solution Preparation of Cash Budge .
Forest Outfitters is a retailer that is preparing its budget for the u (2).docx
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: The company\'s beginning cash balance for the upcoming fiscal year will be $64,600. The company requires a minimum cash balance of $30,100 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. 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. Complete the company\'s cash budget for the upcoming fiscal year. Solution Preparation of Cash Budge .
Recomendados
Mais conteúdo relacionado
Similar a Forest Outfitters is a retailer that is preparing its budget for the u (2).docx
Similar a Forest Outfitters is a retailer that is preparing its budget for the u (2).docx(20)
Mais de edmundp8cgllams
Mais de edmundp8cgllams(20)
Último
Último(20)
Forest Outfitters is a retailer that is preparing its budget for the u (2).docx
- 1. 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: The company's beginning cash balance for the upcoming fiscal year will be $64,600. The company requires a minimum cash balance of $30,100 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. 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. Complete the company's cash budget for the upcoming fiscal year. 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: Solution Preparation of Cash Budge 1ST QUARTER 2ND QUARTER 3RD QUARTER 4TH QUARTER Op Bal 64600 30100 208435 231435 Add:- Receipts 382000 696000 428000 450000 Less:- Payment (522000) (409000) (405000) (482000) Interest Paid (3165) Closing Balance (75400) 313935 231435 199435 Loan 105500 (105500) Net Closing Balance 30100 208435 231435 199435