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Category > Management Posted 07 Jan 2018 My Price 8.00

Morrison Mfg. Co

Cash budget The monthly cash budgets for the second quarter of 2013 follow ($000 omitted) for Morrison Mfg. Co. A minimum cash balance of $30,000 is required to start each month, and a $100,000 line of credit has been arranged with a local bank at a 8% interest rate.

 

 

 

 

 

 

Cash balance, beginning . . . . . . . . . . . . . . . . . .

April

$ 26

 

May

$ ?

 

June

$ ?

 

Total

$  26

 

Add collections from customers . . . . . . . . . . . . .

?

 

108

 

?

 

?

 

Total cash available . . . . . . . . . . . . . . . . . . .

$ 94

 

$ ?

 

$166

 

$338

 

Less disbursements:

Purchase of inventory . . . . . . . . . . . . . . . . . . .                       $ ?                   $ 60          $ 48  $ ?

Operating expenses . . . . . . . . . . . . . . . . . . . .    30                   ?                      ?                ?

Capital additions . . . . . . . . . . . . . . . . . . . . . . .    34                   8                      ?                 44

Payment of dividends . . . . . . . . . . . . . . . . . . .      –                      –                   ?                   8

                                                                                                                      

Total disbursements . . . . . . . . . . . . . . . . . .  $ ?                  $108                $ 82          $304 Excess (deficiency) of cash available

over disbursements. . . . . . . . . . . . . . . . . . . .

$(20)                   $ ?                 $  84

 

$ ?

Borrowings. . . . . . . . . . . . . . . . . . . . . . . . . . . .

?                          –                      –

 

?

Repayments (including interest) . . . . . . . . . . . .

–                       –                   ?

 

?

Cash balance, ending. . . . . . . . . . . . . . . . . . . .

                                               

$ ?                  $  30                $ ?

 

$  33

 

 

Required:

Calculate the missing amounts. (Hint: The total cash available includes collec- tions from customers for all three months, plus the beginning cash balance from April 1, 2013.)

 

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 07 Jan 2018 10:01 PM My Price 8.00

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