7/31/2018 Assignment Print Vev Award: 10.00 points Garden Depot is a relaier tha

Question

7/31/2018 Assignment Print Vev Award: 10.00 points Garden Depot is a relaier that is preparing its budgel for the upeoming fiscal year. Management has crepared the felling ts budgeted cash flos of Totel cash receipbe Total cash dishursernents 181 Quaner 2nd Cuarer Srd Quaneh Quarter $ 260,00C 410.300 5 293,000 S310,00 318,000296.300 278,000 208,000 The company's beginning cash balance for the upcoming fiscal year wil be 36,000. The compeny requires a m nimum cast balance of $10,000 and may borrow any amount needed farm ?a bank at a quarterly nterest rate of 3%. The company may at the beginning cf any querter and may repay its lcans, or any part of its losns, at the end of any quarter. Interest any principal tthe time it is repaid. For simplicity, Ssume that interest is not compounded. amcunt are due on Required: Prepare the company's cash budget for the upcoming fiscal yaar. (Repayments, and interest, should be indicated by a sign.) Garden Depat Cash Budget st Quarter 2nd Quarter 3rd Quarter 4th QuarterYear Beginning casbalana Total cash receiçts Toral cash avelsble Total cash disbursements Excess af cash available over diaoursements Fnancna Borrowings Total finencing Ending cash balance Hints Hint #1 Worksheet Difficulty 1 Easy Learnng Obeclee: G8-29 Propare a cash budget htip:Nezto.mheducation.comim.tpx?todo 15S inglePrintviessingeQuestonNo 7.8postSubrrissoniee13252700422703155swid-1

Explanation / Answer

Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Beginning cash balance 36,000 10,000 1,02,200 1,14,200 36,000 Add Cash collections 260000 410000 290000 310000 1270000 Total collections 2,96,000 4,20,000 3,92,200 4,24,200 13,06,000 Less Cash disbursements 316000 286000 278000 296000 1176000 Excess of cash available over disbursement -20,000 1,34,000 1,14,200 1,28,200 1,30,000 Financing Borrowing 30000 30000 repayment 30000 30000 Interest paid 1800 1800 Total Financing 30000 -31800 0 0 -1800 Ending cash balance 10,000 1,02,200 1,14,200 1,28,200 1,28,200

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