Question
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the
upcoming fiscal year. Management has prepared the following summary
of its budgeted cash flows:
Total cash receipts
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
$ 320,000 $ 440,000 $ 370,000 $ 390,000
Total cash disbursements
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
$ 372,000 $ 342,000 $ 332,000 $ 352,000
The companyâs beginning cash balance for the upcoming fiscal
year will be $27,000. The company requires a minimum cash balance
of $10,000 and may borrow any amount needed from a local bank at a
quarterly interest rate of 3%. The company may borrow any amount at
the beginning of any quarter and may repay its loans, or any part
of its loans, at the end of any quarter. Interest payments are due
on any principal at the time it is repaid. For simplicity, assume
that interest is not compounded. Required:
Prepare the companyâs cash budget for the upcoming fiscal
year. (Repayments, and interest, should be indicated by a minus
sign.) Work would be much appreciated please!
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Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a
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$
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2nd Quarter
3rd Quarter
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Total cash receipts
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$
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$
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$
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Total cash disbursements
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$
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$
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The company’s beginning cash balance for the upcoming fiscal year
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Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management...
Garden Depot is a retailer that is preparing its budget for the
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2nd Quarter
3rd Quarter
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Total cash receipts
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1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
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$
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2nd Quarter
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2nd Quarter
3rd Quarter
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