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- A company has prepared the operating budget and the cash budget. It is now preparing the budgeted balance sheet. Identify the document that contains each of these balances. A. cash B. accounts receivable C. finished goods inventory D. accounts payable E. equipment purchasesWhat is the amount of budgeted cash payments if purchases are budgeted for $190,500 and the beginning and ending balances of accounts payable are $21,000 and $25,000, respectively?Relevant data from the operating budget of The Framers are: Other data: Capital assets were sold in quarter 1 and $8,000 was collected in quarter 1 and $500 collected in quarter 2. Dividends of $500 will be paid in May The beginning cash balance was $50,000 and a required minimum cash balance is $10,000. Prepare a cash budget for the first two quarters of the year.
- Which is the correct answer? The following information was reported in a cash budget: Beginning cash balance $280,000 Cash payments 494,000 Cash receipts 370,000 Minimum cash balance desired 200,000 How much cash will the company have to borrow in order to meet its required needs? a. $64,000 b. $124,000 c. $0 d. $44,000A cash budget is: (01)a. Beginning cash balance › Cash receipts › Cash from financing › Cash disbursements › Ending cash balance.b. Beginning cash balance › Cash receipts › Cash disbursements › Financing ›Ending cash balance.c. Beginning cash balance › Net income › Cash dividends › Ending cash balance.d. Beginning cash balance › Cash revenues › Cash expenses › Ending cash balance.Required:(a) The business needs to have a sense of its future cash flows and therefore requires thepreparation of the following:▪ A schedule of budgeted cash collections for trade receivables (sales on account) for each ofthe months July to September. ▪ A schedule of expected cash disbursements for accounts payable (purchases on account)for each of the months July to September.▪ A cash budget, with a total column, for the quarter ending September 30, 2022, showing theexpected cash receipts and payments for each month and the ending cash balance for eachof the three months, given that no financing activities took place.
- In your own words and by providing appropriate examples, explain the main advantages of identifying cash surpluses and deficits in a cash budget. (Word Limit: 250 – 300 words)Kindy assist with b & c . Thank you a) The business needs to have a sense of its future cashflows and therfore requires the preparation of the following: A schedule of budgeted cash collections for trade receivables (sales on account) for each of the months October to December. A schedule of expected cash disbursements for accounts payable (purchases on account) for each of the months October to December. A cash budget, with a total column, for the quarter ending December 31, 2021, showing the expected cash receipts and payments for each month and the ending cash balance for each of the three months, given that no financing activities took place. (b) Another team member who is preparing the Budgeted Balance Sheet for the business for the same quarter and has asked you to furnish him with the figures for the expected trade receivables and payables to be included in the statement at December 31, 2021. Is that a reasonable request? If yes, what should these amounts be? c) Upon…The previous cash balance is important when beginning work on the cash budget because O The beginning cash can be used in periods of cash flow issues. We can use this number to decide what terms to offer our customers. Jm OIf we started without this information, we may show cash flow issues in error.
- Please assist with parts b & c. Thank you. a) The business needs to have a sense of its future cashflows and therefore requires the preparation of the following: A schedule of budgeted cash collections for the trade receivables (sales on account) for each of the months October to December. A schdule of expected cash disbursements for accounts payable (purchases on account) for each of the months October to December. A cash budget, with a total column, for the quarter ending December 31, 2021, showing the expected cash receipts and payments for each month and the ending cash balance for each of the three months, given that no financing activities took place. (b) Another team member who is preparing the Budgeted Balance Sheet for the business for the same quarter and has asked you to furnish him with the figures for the expected trade receivables and payables to be included in the statement at December 31, 2021. Is that a reasonable request? If yes, what should these amounts be?…Required: (a) The business needs to have a sense of its future cash flows and therefore requires the preparation of the following: A schedule of budgeted cash collections for trade receivables (sales on account) for each of the months July to September. A schedule of expected cash disbursements for accounts payable (purchases on account) for each of the months July to September. A cash budget, with a total column, for the quarter ending September 30, 2022, showing the expected cash receipts and payments for each month and the ending cash balance for each of the three months, given that no financing activities took place. (b) Another team member who is preparing the Budgeted Balance Sheet for the business for the same quarter ending September 30, 2022, has asked you to furnish him with the figures for the expected trade receivables and payables to be included in the statement. Is that a reasonable request? If yes, what should these amounts be? (c) Upon receipt of the budget,…Required: (a) The business needs to have a sense of its future cash flows and therefore requires the preparation of the following:▪ A schedule of budgeted cash collections for trade receivables (sales on account) for each of the months January to March. ▪ A schedule of expected cash disbursements for accounts payable (purchases on account)for each of the months January to March. ▪ A cash budget, with a total column, for the quarter ending March 31, 2022, showing the expected cash receipts and payments for each month and the ending cash balance for each of the three months, given that no financing activities took place. (b) Another team member who is preparing the Budgeted Balance Sheet for the business for the same quarter ending March 31, 2022 and has asked you to furnish him with the figures for the expected trade receivables and payables to be included in the statement. Is that a reasonable request? If yes, what should these amounts be? (c) Upon receipt of the budget, the team…
