Problem:
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
|
$ ?
|
$ ?
|
$ 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
|
-
|
-
|
?
|
8
|
|
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.