Required Prepare a cash budget. (Any repayments/shortage should be indicated with a minus sign. Round intermediate and final answers to the nearest whole dollar amounts.)
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- Fanning Medical Clinic has budgeted the following cash flows. January $105,000 February $111,000 March Cash receipts Cash payments For inventory purchases For S&A expenses $131,000 92,500 33,500 74,500 34,500 87,500 29,500 Fanning Medical had a cash balance of $10,500 on January 1. The company desires to maintain a cash cushion of $10,000. 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. Fanning 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. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortageBaird Medical Clinic has budgeted the following cash flows. February $108,000 January March Cash receipts Cash payments For inventory purchases For S&A expenses $102,000 $128,000 91,000 73,000 33,000 86,000 28,000 32,000 Baird Medical had a cash balance of $9,000 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. Baird 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. (Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage should be indicated with a minus sign. ) Cash Budget January February March Section 1: Cash Receipts $ $ Total cash available Section 2: Cash Payments Total…Rooney 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.)
- Gibson Medical Clinic has budgeted the following cash flows. Cash receipts January $ 108,000 February $ 114,000 March $ 134,000 Cash payments For inventory purchases. For S&A expenses 94,000 35,000 76,000 36,000 89,000 31,000 Gibson Medical had a cash balance of $12,000 on January 1. The company desires to maintain a cash balance 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. Required Prepare a cash budget. Note: Round intermediate and final answers to the nearest whole dollar amounts. Any repayments/ shortage should be indicated with a minus sign. Cash Budget Section 1: Cash Receipts Total cash available Section 2: Cash Payments Total budgeted…Newman Medical Clinic has budgeted the following cash flows. January February March $11,000 $117,000 $137,000 Cash receipts Cash payments For inventory purchases For S&A expenses 36,500 95,500 77,500 90,500 37,500 32,500 Newman Medical had a cash balance of $13,500 on January 1. The company desires to maintain a cash cushion of $10,000. 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. Newman 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. (Any repayments/shortage should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.)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 budgetFairview 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…Baird Medical Clinic has budgeted the following cash flows. Cash receipts Cash payments For inventory purchases For S&A expenses Cash Budget Section 1: Cash Receipts January $ 102,000 Total cash available Section 2: Cash Payments Total budgeted disbursements Section 3: Financing Activities 91,000 32,000 Baird Medical had a cash balance of $9,000 on January 1. The company desires to maintain a cash balance 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. Baird 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. Note: Round Intermediate and final answers to the nearest whole dollar amounts. Any repayments/shortage should be indicated with a minus sign. January S 0 0 0 February $…
- Newman Medical Clinic has budgeted the following cash flows. January February March $109,000 $115,000 $135,000 Cash receipts Cash payments For inventory purchases For S&A expenses 94,500 76,500 Cash available Less: Cash payments 35,500 Cash Budget Total budgeted payments Payments minus receipts Newman Medical had a cash balance of $12,500 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. Newman 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. Financing Activity 36,500 Required Prepare a cash budget. (Any repayments/shortage should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) 89,500 31,500 January February…Jaborosa, Inc., a merchandising company, has provided the following budgeted amounts for the next budget period. Beginning cash balance Cash collections Payments for: Purchases of merchandise inventory Selling and administrative expenses Capital expenditures $30,700 680,000 O A. $(17,700) OB. $710,700 OC. $290,900 O D. $32,300 349,300 70,500 308,600 A minimum cash balance of $30,000 is required to be maintained. The company can borrow in increments of $10,000 as and when required. Assume the company can borrow the needed funds at the end of the period. Calculate the ending cash balance for the budget period. C...Newman Medical Clinic has budgeted the following cash flows. January February March $109,000 $115,000 $135,000 Cash receipts Cash payments For inventory purchases For S&A expenses Newman Medical had a cash balance of $12,500 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. Newman 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. (Any repayments/shortage should be indicated with a minus sign. Round your answers to the nearest whole dollar amount.) 94,500 76,500 89,500 35,500 36,500 31,500 Cash Budget Cash available Less: Cash payments Total budgeted payments Payments minus receipts Financing Activity $ EA January 0 0…