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Cash budget The monthly cash budgets for the second quarter of 2010 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.
April
May
June
Total
Cash balance, beginning
$ 26
$ ?
Add collections from customers
?
108
? $338
Total cash available
$ 94
$166
Less disbursements:
Purchase of inventory
$ 60
$ 48
Operating expenses
30
Capital additions
34
8
44
Payment of dividends
-
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.
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