Nichols Co.has the following information for the second quarter of 2012:
Cost of Goods Sold is 75% of Sales; all cash
Operating expenses is 10% of Sales; all cash
Income taxes paid:
The minimum cash balance for any month is $10,000.
Prepare a cash budget for each month in the second quarter of 2012,showing any excess cash or any financing needed.Any interest on the financing will be deferred until the fiscal year end in December.

Question

Nichols Co.has the following information for the second quarter of 2012:
  Cost of Goods Sold is 75% of Sales; all cash
Operating expenses is 10% of Sales; all cash
  Income taxes paid:
  The minimum cash balance for any month is $10,000.
Prepare a cash budget for each month in the second quarter of 2012,showing any excess cash or any financing needed.Any interest on the financing will be deferred until the fiscal year end in December.

Quizplus · Accepted Answer

The Answer of Nichols Co.has the following information for the second quarter of 2012:
  Cost of Goods Sold is 75% of Sales; all cash
Operating expenses is 10% of Sales; all cash
  Income taxes paid:
  The minimum cash balance for any month is $10,000.
Prepare a cash budget for each month in the second quarter of 2012,showing any excess cash or any financing needed.Any interest on the financing will be deferred until the fiscal year end in December.