July August September Beginning cash balance $10,000 $ ? $ ? Add: Cash receipts
ID: 2369365 • Letter: J
Question
July
August
September
Beginning cash balance
$10,000
$ ?
$ ?
Add: Cash receipts
50,000
63,000
71,000
Deduct: Cash payments
-64,000
-58,000
-64,000
Cash excess (deficiency) before financing
($4,000)
$ ?
$ ?
Financing
Borrowing to maintain minimum balance
?
?
?
Principal repayment
?
?
?
Interest payment
?
?
?
Ending cash balance
$ ?
$ ?
$ ?
Chapter 6 Exercise 5
5. Abbreviated cash budget; financing emphasis
An abbreviated cash budget for Big Chuck Enterprises follows.
July
August
September
Beginning cash balance
$10,000
$ ?
$ ?
Add: Cash receipts
50,000
63,000
71,000
Deduct: Cash payments
-64,000
-58,000
-64,000
Cash excess (deficiency) before financing
($4,000)
$ ?
$ ?
Financing
Borrowing to maintain minimum balance
?
?
?
Principal repayment
?
?
?
Interest payment
?
?
?
Ending cash balance
$ ?
$ ?
$ ?
Explanation / Answer
July
August
September
Beginning cash balance
$10,000
9,000
9,000
Add: Cash receipts
50,000
63,000
71,000
Deduct: Cash payments
-64,000
-58,000
-64,000
Cash excess (deficiency) before financing
($4,000)
($14,000)
($16,000)
Financing
Borrowing to maintain minimum balance
0
0
0
Principal repayment
0
0
0
Interest payment
0
0
0
Ending cash balance
$4,000
$14,000 $16,000
July
August
September
Beginning cash balance
$10,000
9,000
9,000
Add: Cash receipts
50,000
63,000
71,000
Deduct: Cash payments
-64,000
-58,000
-64,000
Cash excess (deficiency) before financing
($4,000)
($14,000)
($16,000)
Financing
Borrowing to maintain minimum balance
0
0
0
Principal repayment
0
0
0
Interest payment
0
0
0
Ending cash balance
$4,000
$14,000 $16,000
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