Let's solve for the missing values in the cash budget, step by step. We'll fill in the missing numbers for July, August, September, and the **Totals** column. --- ### 1. **Opening cash balance** - **July:** $5,920 (given) - **August:** Ending balance of July = $5,760 (given) - **September:** Ending balance of August (to be calculated) - **Total:** Not required --- ### 2. **Cash receipts** - July: $13,120 (given) - August: $16,160 (given) - September: Missing (to calculate total) - **Total:** $32,800 (given) Let’s solve for September: \[ \text{Cash receipts total} = 13,120 + 16,160 + \text{September} \] \[ 32,800 = 13,120 + 16,160 + \text{September} \] \[ \text{September} = 32,800 - 13,120 - 16,160 = 3,520 \] --- ### 3. **Total cash available** - July: $5,920 + $13,120 = **$19,040** - August: $5,760 + $16,160 = **$21,920** - September: (to be calculated after finding August's ending balance) --- ### 4. **Cash disbursements** #### Payments on account, wages expense, overhead costs (given): - **July:** $6,400 + $8,000 + $2,080 = $16,480 (matches table) - **August:** $6,240 + $9,920 + $7,360 = $23,520 (sum for double check) - **September:** $9,120 + $9,920 + $1,760 = $20,800 (matches table) #### Total disbursements: - July: **$16,480** - August: **$23,520** - September: **$20,800** - **Total:** $16,480 + $23,520 + $20,800 = **$60,800** --- ### 5. **Cash excess (deficiency)** \[ \text{Cash excess (deficiency)} = \text{Total cash available} - \text{Total disbursements} \] - **July:** $19,040 - $16,480 = $2,560 - **August:** $21,920 - $23,520 = -$1,600 - **September:** (to be calculated after finding total cash available) --- ### 6. **Minimum cash balance** - Every month: $5,600 --- ### 7. **Cash available (needed)** \[ \text{Cash available (needed)} = \text{Cash excess (deficiency)} - \text{Minimum cash balance} \] - **July:** $2,560 - $5,600 = **$(3,040)** - **August:** $-1,600 - $5,600 = **$(7,200)** - **September:** Will calculate after getting previous numbers --- ### 8. **Financing: Borrowings/(repayments)** - **July:** $3,200 (given) - **August:** $0 (since $(3,040)$ isn't a multiple of $800, borrow next $3,200$ to cover shortfall) - Cash available (needed) after borrowing in July: $(3,040) + $3,200 = $160$ (carryover, not enough for next month) - In August, shortfall is $7,200$, so borrow $7,200$. - **September:** Repayment of $(800)$ (given) --- ### 9. **Acquire (sell) investments** - Only in September: $(16)$ (given) --- ### 10. **Receive (pay) interest** - September: $(16)$ (given) --- ### 11. **Ending cash balance** - Always $5,760 in July, $5,760 in August, $5,904 in September (given) - The ending cash balance is always set to at least $5,600 as per requirements. --- ## **Complete Table** | | July | August | September | Total | |--------------------------|---------|---------|-----------|-----------| | Opening cash balance | $5,920 | $5,760 | $5,760 | | | Cash receipts | $13,120 | $16,160 | $3,520 | $32,800 | | Total cash available | $19,040 | $21,920 | $9,280 | $62,240 | | Payments on account | $6,400 | $6,240 | $9,120 | $21,760 | | Wages expense | $8,000 | $9,920 | $9,920 | $27,840 | | Overhead costs | $2,080 | $7,360 | $1,760 | $11,200 | | Total disbursements | $16,480 | $23,520 | $20,800 | $60,800 | | Cash excess (deficiency) | $2,560 | $(1,600)| $(11,520) | $(10,560) | | Minimum cash balance | $(5,600)| $(5,600)| $(5,600) | $(16,800) | | Cash available (needed) | $(3,040)| $(7,200)| $(17,120) | $(27,360) | | Financing: | | | | | | Borrowings (repayments) | $3,200 | $7,200 | $(800) | $9,600 | | Acquire (sell) investments| $0 | $0 | $(16) | $(16) | | Receive (pay) interest | $0 | $0 | $(16) | $(16) | | Ending cash balance | $5,760 | $5,760 | $5,904 | | --- ### **Summary of Missing Values:** - **Cash receipts (September):** $3,520 - **Total cash available (July):** $19,040 - **Total cash available (August):** $21,920 - **Payments on account (August):** $6,240 - **Wages expense (August):** $9,920 - **Overhead costs (August):** $7,360 - **Total disbursements (August):** $23,520 - **Cash excess (deficiency) (July):** $2,560 - **Cash excess (deficiency) (August):** $(1,600) - **Cash available (needed) (July):** $(3,040) - **Cash available (needed) (August):** $(7,200) - **Borrowings (August):** $7,200 **If you need further breakdown or verification, let me know!**