Garrison 14th Chapter8 Classsolutions

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...