26. A hospital has provided you with the following budget information for April Cash collections P876,000 April 1 cash balance 23.000 Cash disbursements 978,600 The hospital has a policy of maintaining a minimum cash balance of P20,000 and borrows only in P1,000 increments. How m
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26. A hospital has provided you with the following budget information for April
Cash collections P876,000
April 1 cash balance 23.000
Cash disbursements 978,600
The hospital has a policy of maintaining a minimum cash balance of P20,000 and borrows
only in P1,000 increments. How much will the hospital borrow in April?
a. P80,000
b. P79,600
c. P99,000
d. P100,000
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- A. Discuss the purpose of the cash budget. B. If the cash for the first quarter of the fiscal year indicates excess cash at the end of each of the first two months, how might the excess cash be used?A. Discuss the purpose of the cash budget. B. If the cash for the first quarter of the fiscal year indicates excess cash at the end of each of the first two months, how might the excess cash be used?2. A hospital has provided you with the following budget information for April Cash collections P876,000 April 1 cash balance 23.000 Cash disbursements 978,600 The hospital has a policy of maintaining a minimum cash balance of P20,000 and borrows only in P1,000 increments. How much will the hospital borrow in April?
- 1. For the month of October, a company predicts total cash collections to be P1 million. Also for October, it estimates that its beginning cash balance will be P50,000 and that it will borrow cash in the amount of P70,000. If the company estimates an ending cash balance of P30,000 for October, what must its projected cash disbursements be? 2. A hospital has provided you with the following budget information for April Cash collections P876,000 April 1 cash balance 23.000 Cash disbursements 978,600 The hospital has a policy of maintaining a minimum cash balance of P20,000 and borrows only in P1,000 increments. How much will the hospital borrow in April?PRS company is preparing cash budget for the forthcoming year with the following details:1512nd3rd quarter 4th quarterQuarter QuarterTotal cash receipts $180.000 $330,000 $210.000 S230.000Total cash disbursements $260,000 $230,000 $220,000 $240,000Cash balance at beginning of the year is $20,000. It is a goal for the company to maintainthe minimum cash balance of $10,000 and borrow the funds from local bank as and whenrequired at quarterly interest rate of 3%. The funds can be borrowed at beginning of thequarter and repaid at end of the year. Repayment can be full or part of loan. Interest willbe due on principal amount that is repaid.Denison Specialty Hospital Operating Budget For Year Ending Last Day of Next Year Revenues Net Patient Revenue $7,980,000 Gift Shop Revenue 120,000 Endowment Income 50,000 Total Budgeted Revenue $8,150,000 Expenses Salaries $6,900,000 Supplies 540,000 Bad Debts 380,000 Rent 300,000 Depreciation Expense 100,000 Interest Expense (122,647) Total Budgeted Expense 8,097,353 Budgeted Excess of Revenues over Expenses $52,647
- Stuart Medical Clinic has budgeted the following cash flows: January February March Cash receipts $ 115,000 $ 121,000 $ 141,000 Cash payments For inventory purchases 97,500 79,500 92,500 For S&A expenses 38,500 39,500 34,500 Stuart Medical had a cash balance of $15,500 on January 1. The company desires to maintain a cash cushion of $8,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 1 percent per month. Repayments may be made in any amount available. Stuart pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this year’s quarterly results. Required Prepare a cash budget.Gibson Medical Clinic has budgeted the following cash flows: January February March Cash receipts $ 108,000 $ 114,000 $ 134,000 Cash payments For inventory purchases 94,000 76,000 89,000 For S&A expenses 35,000 36,000 31,000 Gibson Medical had a cash balance of $12,000 on January 1. The company desires to maintain a cash cushion of $7,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 3 percent per month. Repayments may be made in any amount available. Gibson pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from this year’s quarterly results. prepare the cash budgetRooney Medical Clinic has budgeted the following cash flows. January February March Cash receipts $ 113,000 $ 119,000 $ 139,000 Cash payments For inventory purchases 96,500 78,500 91,500 For S&A expenses 37,500 38,500 33,500 Rooney Medical had a cash balance of $14,500 on January 1. The company desires to maintain a cash cushion of $6,000. Funds are assumed to be borrowed, in increments of $1,000, and repaid on the last day of each month; the interest rate is 2 percent per month. Repayments may be made in any amount available. Rooney pays its vendors on the last day of the month also. The company had a monthly $40,000 beginning balance in its line of credit liability account from last year’s quarterly results. Required Prepare a cash budget. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments should be indicated with a minus sign.)
- Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. The Board of Trustees requires that Tri-County maintain a minimum cash balance of $8,000. If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $8,000 minimum. It is anticipated that the year will begin with an $11,000 cash balance. Contract revenue is received evenly during the year. Mental health income is expected to grow by $5,000 in the second and third quarters; no change is expected in the fourth quarter. Required: 2. Complete the cash budget for each quarter and the year as a whole. 3. Determine the amount that the agency will owe the endowment fund at year-end.owa Imaging Center provided the financial information in Exhibit 5.15 below. Prepare a cash budget for the quarter ending March 20X1. For Blackboard you will enter your ENDING cash balance for the months of January 20X1, February 20X1, March 20X1, and the Quarter ending March 20X1. I want you to submit your work for this problem by email so I can review the entire document. Exhibit 5-15 Iowa Imaging Center Givens Revenues and Expenses Patient Revenues, 20X0 Estimated Patient Revenues, 20X1 Given 1 October $4,000,000 Given 2 January $4,300,000 November $4,200,000 February $4,350,000 December $4,300,000 March $4,400,000 Other Revenues, 20X1 Estimated Cash Outflows, 20X1a Given 3 January $90,000 Given 4 January $4,250,000…Fairview Medical Supply has applied for a loan. First American Bank has requested a budgeted balance sheet as of April 30, and a combined cash budget for April. As Fairview Medical Supply's controller, you have assembled the following information: a. March 31 equipment balance, $52,700; accumulated depreciation, $41,100. b. April capital expenditures of $42,700 budgeted for cash purchase of equipment. c. April depreciation expense, $500. d. Cost of goods sold, 60% of sales. e. Other April operating expenses, including income tax, total $13,400, 30%of which will be paid in cash and the remainder accrued at April 30. f. March 31 owners' equity, $93,600. g. March 31 cash balance, $40,100. h. April budgeted sales, $91,000, 70% of which is for cash. Of the remaining 30%, half will be collected in April and half in May. i. April cash collections on March sales, $29,200. j. April cash payments of March 31 liabilities incurred…
