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Date Submitted: 11/17/2014 10:38 PM
Chapter 8 Class Solutions Garrison 14th Ed.
Exercise 8-7 (20 minutes)
|Forest Outfitters |
|Cash Budget |
| |1st Quarter |2nd Quarter |3rd Quarter |4th Quarter |Year |
|Cash balance, beginning |$ 50,000 |$ 30,000 |$ 69,800 |$ 49,800 |$ 50,000 |
|Total cash receipts | 340,000 | 670,000 | 410,000 | 470,000 | 1,890,000 |
|Total cash available |390,000 |700,000 |479,800 |519,800 |1,940,000 |
|Less total cash disbursements | 530,000 | 450,000 | 430,000 | 480,000 | 1,890,000 |
|Excess (deficiency) of cash available |(140,000) | 250,000 | 49,800 | 39,800 | 50,000 |
|over disbursements | | | | | |
|Financing: | | | | | |
|Borrowings (at beginning)* |170,000 | | | |170,000 |
|Repayments (at ending) | |(170,000) | | |(170,000) |
|Interest§ | | (10,200) | | | (10,200) |
|Total financing...