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 a cash cushion of $7,500 to start 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 and enter them in the following table: $$\begin{array} { | l | l | l |l |}
\hline \text { (a) } && ( i )& \
\hline \text { (b) } && ( j ) \
\hline \text { (c) } && \text { (k) } \
\hline \text { (d) } && \text { (l) } \
\hline \text { (e) } && \text { (m) } \
\hline \text { (f) } && \text { (n) } \
\hline \text { (g) } && \text { (o) } \
\hline \text { (h) } && \text { (p) } \
\hline
\end{array}$$

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 a cash cushion of $7,500 to start 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 and enter them in the following table: $$\begin{array} { | l | l | l |l |} 
\hline \text { (a) }  && ( i )& \
\hline \text { (b) }  && ( j )  \
\hline \text { (c) } && \text { (k) }  \
\hline \text { (d) } && \text { (l) }  \
\hline \text { (e) } && \text { (m) }  \
\hline \text { (f) } && \text { (n) }  \
\hline \text { (g) } && \text { (o) }  \
\hline \text { (h) } &&  \text { (p) }  \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of 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 a cash cushion of $7,500 to start 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 and enter them in the following table: $$\begin{array} { | l | l | l |l |} 
\hline \text { (a) }  && ( i )& \
\hline \text { (b) }  && ( j )  \
\hline \text { (c) } && \text { (k) }  \
\hline \text { (d) } && \text { (l) }  \
\hline \text { (e) } && \text { (m) }  \
\hline \text { (f) } && \text { (n) }  \
\hline \text { (g) } && \text { (o) }  \
\hline \text { (h) } &&  \text { (p) }  \
\hline
\end{array}$$

A Management Accountant Was Working on a Cash Budget for Oklahoma