A management accountant was working on a cash budget for Oklahoma Company when he accidentally spilled his coffee. Some of the liquid splattered on his working papers, rendering a few of the amounts illegible. The budget with missing amounts indicated is provided below:
The company desires to maintain an ending cash balance of at least $7,500 each month. In any month in which there is cash shortage, the company's bank will extend it a loan equal to the shortage amount. The loan is assumed to have been made on the last day of the month. Any time the company has a cash surplus it must repay as much of any outstanding loans as possible. The bank charges monthly interest of 1% on any outstanding loan balance.
Required:Compute the missing amounts for items (a) through (p).

Question

A management accountant was working on a cash budget for Oklahoma Company when he accidentally spilled his coffee. Some of the liquid splattered on his working papers, rendering a few of the amounts illegible. The budget with missing amounts indicated is provided below:
  The company desires to maintain an ending cash balance of at least $7,500 each month. In any month in which there is cash shortage, the company's bank will extend it a loan equal to the shortage amount. The loan is assumed to have been made on the last day of the month. Any time the company has a cash surplus it must repay as much of any outstanding loans as possible. The bank charges monthly interest of 1% on any outstanding loan balance.
Required:Compute the missing amounts for items (a) through (p).

A Management Accountant Was Working on a Cash Budget for Oklahoma