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DAaubucbc Aa Bb( Normal No Spac.. . Heading 1 Paragraph COURSE PROJECT 1 INSTRUCTIONS 2...

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Accounting

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DAaubucbc Aa Bb( Normal No Spac.. . Heading 1 Paragraph COURSE PROJECT 1 INSTRUCTIONS 2 A cash budget. Show the budget by month and in total Determine any borrowing that would be needed to maintain the minimum cash balance of 350000. Monthly operating expenses for the company are given below Variable expenses: Sales commissions Fixed expenses: Advertising Rent Salaries Utilities Insurance 4% of sales $200 000 $18.000 $106.000 $ 7 000 $3.000 $14,000 insurance is paid on an annuai basis, in Nowember of each year. The company plans to purchase $16,000 in new equipment during May and S40,000 in new equipment during June, both purchases will be for cash. The company declares dividends of $15,000 each quaner payable in the tirst month of the folowing quaner Other relevanit data is given below Cash balance as of March 3174.000 Invetory balance as of March 31$104.000 Merchandse purchases for March s200000 The company mantains a rininum cash balane otat ast $60.000 at the end of each moih. All boroving is done at the begirining of a mont, ary repaments are the end of a month made at

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