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What would the adjusted ending balance for March

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Reference no: EM132701222

Problem - Kylles Inc. expects to receive cash from sales of $45,000 in March. In addition, Kylles expects to sell property worth $3,500. Payments for materials and supplies are expected to total $10,000, direct labor payroll will be $12,500, and other expenditures are budgeted at $14,900. On March 1, the cash account balance is $1,230.

Required -

1. Prepare a cash budget for Kylles Inc. for the month of March.

2. Assume that Kylles Inc. wanted a minimum cash balance of $15,000 and that it could borrow from the bank in multiples of $1,000 at an interest rate of 12% per year. What would the adjusted ending balance for March be for Kylles? How much interest would Kylles owe in April, assuming that the entire amount borrowed in March would be paid back?

Reference no: EM132701222

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