please check out the attachment instructions to finish the questions by using gi 1

Please check out the attachment instructions to finish the questions by using given template
ACCT504_Case_Study_3_Instructions.docx
ACCT504_Case_Study_3_Cash_Budget_Template.xlsx

(Learning Objective 5: Construct and use a cash budget) Nathan Farmer, chief financial officer of Wang Appliance Store, is responsible for the company’s budgeting process. Farmer’s staff is preparing the Wang cash budget for 2014. A key input to the budgeting process is last year’s statement of cash flows, which follows (amounts in thousands):
   Wang Appliance Store
    Statement of Cash Flows
   2013 
  (in thousands)
Cash Flows from Operating Activities
Collections from customers  $51,000
Interest Received  500
Purchase of inventory  (36,000)
Operating expenses   (10,200)
  Net cash provided by operating activities   5,300
Cash Flows from Investing Activities
  Purchase of equipment  (3,500)
  Purchase of investments   (500)
  Sale of investments  1,000
  Net cash used for investing activities  (3,000 ) 
   
Cash Flows from Financing Activities
  Payment of long term debt  (400)
  Issuance of Stock  2,000
  Payment of cash dividends  (500)
  Net cash provided by financing activities  1,000 
Cash
Increase (decrease) in Cash   3,300
Cash, beginning of year    2,900
Cash, end of year  5,900
â–¸ Requirements

1. Prepare the Wang cash budget for 2014. Date the budget simply “2014” and denote the beginning and ending cash balances as “beginning” and “ending.” Assume the company expects 2014 to be the same as 2013, but with the following changes:

a. In 2014, the company expects a 20% increase in collections from customers and a 30% increase in purchases of inventory.
b. There will be no sales of investments in 2014.
c. Wang does not plan to issue stock in 2014.
d. Wang plans to end the year with a cash balance of $5,550.      

 
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