Forest Outfitters is a retailer that is preparing its budget for the u.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 $56,000. The company requires a minimum cash balance of $31,800 and may borrow any amount needed from a local bank at a quarterly interest rate of 1.3%. 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. 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 ?O? wherever required. Do not round intermediate calculations. Round your answers to the nearest dollar amount Omit the $ sign in your response.) Solution Forest Outfitters Cash Budget .
Forest Outfitters is a retailer that is preparing its budget for the u.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 $56,000. The company requires a minimum cash balance of $31,800 and may borrow any amount needed from a local bank at a quarterly interest rate of 1.3%. 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. 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 ?O? wherever required. Do not round intermediate calculations. Round your answers to the nearest dollar amount Omit the $ sign in your response.) Solution Forest Outfitters Cash Budget .
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Forest Outfitters is a retailer that is preparing its budget for the u.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 $56,000. The company requires a minimum cash balance of $31,800 and may borrow any amount needed from a local bank at a quarterly interest rate of 1.3%. 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. 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 ?O? wherever required. Do not round intermediate calculations. Round your answers to the nearest dollar amount Omit the $ sign in your response.) Solution Forest Outfitters Cash Budget 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Cash Balance, Beg. 56000 31600 139344 134344 Total Cash Receipts 363000 659000 427000 498000 Total Cash Available 419000 690600 566344 632344 Less: Total Cash Disbursements 528000 407000 432000 460000 Excess/(Deficiency) of cash Available (109000) 283600 134344 172344 Financing Borrowings(At Beg.) 140600 0 0 0 Repayment (At End) 0 (140600) 0 0 Interest 0 (3656) 0 0 Total Financing 140600 (144256) 0 0 Cash Balance, Ending 31600 139344 134344 172344