- 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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