| Wages monthly | |||||||||
| Principal payment due on debt in March | |||||||||
| Interest due in March | |||||||||
| Dividend payable on March | |||||||||
| Addition to accumulated depreciation in March | |||||||||
| Cash balance 01.01.2009 | |||||||||
| Minimum desired cash balance | |||||||||
| Period | 2008 | 2009 | |||||||
| October | November | December | January | February | March | ||||
| Sales | |||||||||
| Purchases | |||||||||
| Taxes | |||||||||
| question 1 | |||||||||
| Cash budget | January | February | March | ||||||
| Cash Inflows | |||||||||
| cash sales | |||||||||
| 30-days credit sales | |||||||||
| cash inflows on sales | |||||||||
| Cash Outflows | |||||||||
| purchases | |||||||||
| wages | |||||||||
| principal payment | |||||||||
| interests due | |||||||||
| dividend paid | |||||||||
| taxes | |||||||||
| total cash outflows | |||||||||
| net flow | |||||||||
| Cash balance at the beginning of the month | |||||||||
| Cash balance at the end of the month | |||||||||
| Minimum cash balance | |||||||||
| Surplus/shortage of cash | |||||||||
| question 7 a | |||||||||
| 31.12.2002 | 31.03.2003 | ||||||||
| Profit and Loss Statement | |||||||||
| Net sales | |||||||||
| Cost of good sold | |||||||||
| Gross profits | |||||||||
| Selling and administrative expenses | |||||||||
| Interests expense | |||||||||
| Depreciation | |||||||||
| Net profit before tax | |||||||||
| Tax (19%) | |||||||||
| Net income | |||||||||
| Dividends | |||||||||
| Retained earnings | |||||||||
| Balance sheet | 31.12.2002 | 31.03.2003 | |||||||
| Gross fixed assets | |||||||||
| Accumulated depreciation | |||||||||
| Net fixed assets | |||||||||
| Inventory | |||||||||
| Accounts receivable | |||||||||
| Cash | |||||||||
| Total current assets | |||||||||
| Total assets | |||||||||
| Equity | |||||||||
| Long-term debt | |||||||||
| Long-term capital | |||||||||
| Taxes payable | |||||||||
| Current portion of long-term debt | |||||||||
| Miscellaneous accruals | |||||||||
| Accounts payable | difference between assets and total liabilites and equity | ||||||||
| Bank loan | Capital requirements | ||||||||
| Current liabilities | |||||||||
| Total liabilities and equity | |||||||||
| question 8 | |||||||||
| Cash Flow statement | 31.03.2003 | ||||||||
| I. cash flow from operating activity | |||||||||
| 1. net income | |||||||||
| 2. corrections | |||||||||
| depreciation | |||||||||
| change in inventory | |||||||||
| change in receivables | |||||||||
| change in tax liabilities | |||||||||
| change in accruals | |||||||||
| change in accounts payable | |||||||||
| change in short-term debt | |||||||||
| II. Cash flow from investment activity | |||||||||
| 1. Investment in fixed assets | |||||||||
| 2. Investment in financial fixed assets | |||||||||
| III. Cash flow from financial activity | |||||||||
| 1. Change in long-term debt | |||||||||
| 2. Dividends paid | |||||||||
| 3. changes in equity | |||||||||
| net flow | |||||||||
| Cash balance at the beginning of the period | |||||||||
| Cash balance at the end of the period | |||||||||
| Capital requirements | |||||||||
| Answers to questions and problems 6, 7 a,b,c,d: | |||||||||