Question

A cash budget, by quarters, is given below for a retail company (000 omitted). The company requires a minimum cash balance of at least $5,000 to start each quarter. Fill in the missing amounts. (Enter your answers in thousands of dollars. Cash deficiencies and Repayments should be indicated by a minus sign.)

-this is the answer that I entered and it says it is incomplete and I can't figure out why?

	Quarter (000 omitted)				(000 omitted)
	1	2	3	4	Year
Cash balance, beginning	$6	$5	$5	$5	$6
Add collections from customers	65	70	96	92	323
Total cash available	71	75	101	97	329
Less disbursements:
Purchase of inventory	35	45	48	35	163
Selling and administrative expenses	28	30	30	25	113
Equipment purchases	8	8	10	10	36
Dividends	2	2	2	2	8
Total disbursements	73	85	90	72	320
Excess (deficiency) of cash available over disbursements	(2)	(10)	11	25	9
Financing:
Borrowings	7	15			22
Repayments (including interest)*			(6)	(17)	(23)
Total financing	7	15		(17)	(1)
Cash balance, ending	$5	$5	$5	$8	$8
*Interest will total $1,000 for the year.

Answer 1

Correct Answer:

	Quarter (000 omitted)				(000 omitted)
	1	2	3	4	year
Cash Balance Beginning	$               6.00	$       5.00	$       5.00	$              5.00	$       6.00
Add: Collection from Customers	$            65.00	$    70.00	$    96.00	$            92.00	$ 323.00
Total Cash Available	$            71.00	$    75.00	$ 101.00	$            97.00	$ 329.00
Less: Disbursements
Purchase of Inventory	$            35.00	$    45.00	$    48.00	$            35.00	$ 163.00
Selling and Administrative expenses	$            28.00	$    30.00	$    30.00	$            25.00	$ 113.00
Equipment purchases	$               8.00	$       8.00	$    10.00	$            10.00	$    36.00
Dividends	$               2.00	$       2.00	$       2.00	$              2.00	$       8.00
Total Disbursements	$            73.00	$    85.00	$    90.00	$            72.00	$ 320.00
Excess (deficiency) of cash	$            (2.00)	$ (10.00)	$    11.00	$            25.00	$       9.00
Financing
Borrowing	$               7.00	$    15.00	0	0	$    22.00
repayments (including interest)	0	0	$    (6.00)	$         (17.00)	$ (23.00)
Total Financing	$               7.00	$    15.00	$    (6.00)	$         (17.00)	$    (1.00)
Cash Balance Ending	$               5.00	$       5.00	$       5.00	$              8.00	$       8.00

The answer is complete, maybe there is some technical issue, or you can try entering zero where no number is required.

End of Answer.

Thanks