Assignment 1: LASA 2Cash Management and Budgeting

Assignment 1: LASA 2Cash Management and Budgeting
The new owner of Bobs Boats Bob just purchased the business and discovered that the prior owner did not have a plan for managing the current assets of the company. Bob has decided that the place to start is with a cash budget using the template he used in his prior position.
Click here to download the Excel template for this assignment.
Bob has requested that you to complete the cash budget given the data that he has already retrieved from the companys records and from his own analysis.
Table-1:
Collections on receivables have historically been collected as follows and this pattern is expected to continue:
Bob pays for the labor and materials in the month after they are incurred. Bob has also compiled the following information on expenses for the upcoming nine month period:
Table-2:
Bob has also identified a cash payment of $175000 upon completion of a new boat dock in July. As of March 1st the company now has $125000 in cash on hand and would like to maintain a minimum cash balance of $85000 at all times.Required:
Use the following file naming convention: LastnameFirstInitial_M5_A1.doc. For example if your name is John Smith your document will be named SmithJ_M5_A1.doc.

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