- 6 January 7 February 8 March 9 10 Kayak Requires A Minimum Cash Balance Of 30 000 At Each Month End Loans Taken To 11 1 (59.55 KiB) Viewed 9 times
- 6 January 7 February 8 March 9 10 Kayak Requires A Minimum Cash Balance Of 30 000 At Each Month End Loans Taken To 11 2 (16.42 KiB) Viewed 9 times
6 January 7 February 8 March 9 10 Kayak requires a minimum cash balance of $30,000 at each month-end. Loans taken to 11 meet this requirement charge 1% interest per month, paid at each month-end. The 12 interest is computed based on the beginning balance of the loan for the month. Any 13 preliminary cash balance above $30,000 is used to repay loans at month-end. The 14
company has a cash balance of $30,000 and a loan balance of $60,000 at January 1. 15 23 24 25 26 Beginning cash balance 27 28 Total cash available 29 Less: Cash payments for 30 31 32 Total cash payments 33 Preliminary cash balance 34 Loan activity Cash Receipts $525,000 400,000 450,000 All items excluding interest Interest on loan 41 35 36 Ending cash balance 37 38 Loan balance - Beginning of month 39 Additional loan (loan repayment) 40 Loan balance, end of month 16 Required: 17 Prepare monthly cash budgets for January, February, and March. 18 19 (Use cells A5 to 114 from the given information to complete this
question. Negative balances and Loan repayment amounts (if any) 20 should be indicated with minus sign. Negative amounts or amounts to be deducted should be input and displayed as negative values. All 21 other answers should be input and displayed as positive values.) 22 KAYAK
COMPANY Cash Budget January $30,000 525,000 555,000 475,000 600 Cash payments $475,000 350,000 525,000 4 7,400 Loan balance February $30,000 400,000 430,000 350,000 March Minimum Cash Balance $30,000 $0 450,000 450,000 Monthly interest rate 1% January 1 Cash balance $30,000 January 1 loan balance. $60,000
Beginning cash balance $30,000 $30 PLEASE INCLUDE EXCEL FORMULAS NEEDED TO ANSWER THE
QUESTION Total cash available 555.000 430.000