Budget in Service Company (Cash Budget) Edge Soccer Program (Edge) began the year with a cash balance of $10,500. The budget forecasts that collections from company owed to the company by customers will be $11,000 in January and $15,200 in February. The soccer program is also supposed to receive $8,500 on a notes receivable from a soccer club that owes Edge for training current player in January. Edge plans to purchase soccer equipment in January and February with cash. The budgeted amounts of the purchases are $15,600 in January and $14,800 in February. Operating costs for the business is $2900 per month. Edge requires $10,000 to maintain in the back account at all times. If the amount in the account falls below $10,000 the credit union extends credit to Edge immediately in multiples of $1000. Edge pays back any amounts borrowed each quarter in payments of $2000 plus 4% interest. The first payment occurs three months after the advance is made to Edge. Requirement Prepare a cash budget for January and February. Sheet1 Edge Soccer Programs Cash Budget For the Two Months Ended February 28 January February Total Beginning cash balance Cash receipts from customers Collection of note receivable Cash available Cash payments: Equipment purchases Selling and administrative expenses Total cash payments Ending cash balance before financing Minimum cash balance desired Projected cash excess (deficiency) Financing: Borrowing Repayment of principal Total effects of financing 0 0 0 Ending cash balance $0 $0 $0 Recommended References (you can check if it’s hard to find relevant resources): Deci, Z. (1996). The open door policy and urban development in China. Habitat International, 20(4), 525529. https://doi.org/10.1016/0197-3975(96)00026-4 Form W, & Nico W. (2020) Involution. Encyclopædia Britannica, Encyclopædia Britannica, Inc., 16 Nov. 2020, https://www.britannica.com/topic/involution-anthropological-and-economic-theory. Huang, Philip C. 1990. The Peasant Family and Rural Development in the Yangzi Delta,1350-1988. Stanford, Calif.: Stanford University Press Li, C. (2010). Characterizing Chinas middle class: Heterogeneous composition and multiple identities. Chinas Emerging Middle Class: Beyond Economic Transformation, 135-156. Little D. (2010) The Involution Debate. In: New Contributions to the Philosophy of History. Methodos Series (Methodological Prospects in the Social Sciences), vol 6. Springer, Dordrecht. https://doi.org/10.1007/978-90-481-9410-0_8 Liu, Y.-L. (2021, May 14). China’s “involuted” generation. The New Yorker. Retrieved November 16, 2021, from https://www.newyorker.com/culture/cultural-comment/chinas-involuted-generation. National Bureau of Statistics of China. (2012). Retrieved from http://www.stats.gov.cn/english/ Tsong, Y., & Liu, Y. (2009). Parachute kids and astronaut families. Asian American Psychology: Current Perspectives, 365-379. Tu, M. (2016). Chinese one-child families in the age of migration: middle-class transnational mobility, ageing parents, and the changing role of filial piety. The Journal of Chinese Sociology, 3(1), 15. https://doi.org/10.1186/s40711-016-0036-z Waters, J. L. (2006). Geographies of cultural capital: education, international migration and family strategies between Hong Kong and Canada. Transactions of the Institute of British Geographers, 31(2), 179-192. https://doi.org/10.1111/j.1475-5661.2006.00202.x Williams, G. M., Case, R. E., & Roberts, C. (2018). Understanding the mental health issues of International Students on Campus. Educational Research: Theory and Practice, 29(2), 18-28. https://www.nrmera.org/wp-content/uploads/2018/10/Williams.et_.al_.29.2.2018.pdf. Yeung, W. J. J. (2013). Higher education expansion and social stratification in China. Chinese Sociological Review, 45(4), 54-80.https://doi.org/10.2753/CSA2162-0555450403 Zhou, M. (1998). ” Parachute kids” in southern California: The educational experience of Chinese children in transnational families. Educational Policy, 12(6), 682-704. https://doi.org/10.1177/0895904898012006005 Zhou, M. (n.d.). ‘involution’: The anxieties of our time summed up in one word. CGTN. Retrieved November 16, 2021, from https://news.cgtn.com/news/2020-12-04/-Involution-The-anxieties-of-our-time-summed-up-in-one-word-VWNlDOVdjW/index.html
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