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Rogers ​Services, Inc., has $ 8 comma 100 cash on hand on October 1. The company requires a minimum cash balance of $ 7 comma 200. October cash collections are $ 548 comma 600. Total cash payments for October are $ 563 comma 800. Prepare a cash budget for October. How much​ cash, if​ any, will Rogers need to borrow by the end of October​? Complete the cash budget below. ​(Use parentheses or a minus sign for negative ending cash balances or​ deficiencies.) Rogers Services, Inc. Combined Cash Budget For the Month Ended October 31 Beginning cash balance Plus: Cash collections Total cash available Less: Cash payments Ending cash balance before financing Minimum cash balance desired Cash excess (deficiency)

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Answer:

                                     Rogers ​Services, Inc  

                 Cash budget for the month ended 31 October

                                                                    Amount in $

Beginning cash balance                                   8,100                

Plus:

Cash collections                                           548,600

Total cash available                                      556,700

Less:

Cash payments                                            (563,800)

Ending cash balance before financing            (7,100)

Minimum cash balance desired                       7,200

Cash excess (deficiency)                              (14,3000)

Explanation:

A Cash budget is a forecast of the net cash flows to/from an entity over a given period of time.

Details of the cash budget include the opening cash balance, the expected expenses or outflows of cash, the expected inflows and the closing balance expected as a result of the 3 elements mentioned earlier.

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