Here are some important figures from the budget of Nashville Nougats, Inc.. for the second quarter of 2015. April May $319.000 $299,000 127.000 150,000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements 43.900 10.900 79.000 The company predicts that 5 percent of its credit sales will never be collected. 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. Purchases Wages, taxes, and expenses Interest. Equipment purchases Total cash disbursements In March 2015, credit sales were $189.000 and credit purchases were $129,000. Using this information, complete the following cash budget: (Do not round intermediate calculations. Leave no cells blank-be certain to enter "0" wherever required.) Ending cash balance 11.400 10,900 148.000 $ $ June $359.000 175,000 62,900 10,900 0 April 122,000 S May June WILLYL

Here are some important figures from the budget of Nashville Nougats, Inc.. for the second quarter of 2015. April May $319.000 $299,000 127.000 150,000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements 43.900 10.900 79.000 The company predicts that 5 percent of its credit sales will never be collected. 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. Purchases Wages, taxes, and expenses Interest. Equipment purchases Total cash disbursements In March 2015, credit sales were $189.000 and credit purchases were $129,000. Using this information, complete the following cash budget: (Do not round intermediate calculations. Leave no cells blank-be certain to enter "0" wherever required.) Ending cash balance 11.400 10,900 148.000 $ $ June $359.000 175,000 62,900 10,900 0 April 122,000 S May June WILLYL

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 5P: Selling and administrative expense budget and budgeted income statement Budgeted selling and...

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Selling and administrative expense budget and budgeted income statement Budgeted selling and administrative expenses for Scottsdale Styles Inc. in P7-4 for the year ended December 31, 2016, were as follows: Required: 1. Prepare a selling and administrative expenses budget, in good form, for the year 2016. 2. Using the information above and the budgets prepared in P7-4, prepare a budgeted income statement for the year 2016, assuming an income tax rate of 30%.
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Using a separate columnar worksheet or Excel worksheet, prepare a Cash Budget by month for the quarter ending September 30, 2021, from the following data obtained from the CONSCIOÜNESS Company. Support your solution with schedules of estimated receipts and payments. August P 16,000 150,000 July September Cash Sales P 12,000 P 18,000 Credit Sales Purchases 110,000 120,000 90,000 120,000 110,000 Operating expenses Interest expense 15,000 18,000 16,000 2,000 Credit sales are collected 50% in the month of sales, 40% on the month following, 8% in the second month following and 2% uncollectible. Credit sales for May and June are expected to be P100,000 and P90,000, respectively. Purchases of merchandise, all on account, are paid 60% in the month of purchase and 40% in the month following. Purchases for June are estimated at P80,000. Expenses include depreciation of P2,000 monthly, and are paid in the month incurred. Cash balance on June 30, 2021.
ONLY ANSWER QUESTION (B) the task of preparing the cash budget for the business for the quarter ending September 30, 2022. Your data collection has yielded the following:i) Extracts from the sales and purchases budgets are as follows:Month CashSales SalesOn Account CashPurchases PurchasesOn AccountMay $75,000 $480,000 $390,000June $135,000 $600,000 $36,000 $360,000July $86,800 $720,000 $61,700 $450,000August $105,600 $640,000 $68,800 $400,000September $112,500 $800,000 $77,250 $500,000ii) An analysis of the records shows that trade…
The following information was taken from Nash's Trading Post, LLC cash budget for the month of June Beginning cash balance $51000 Cash receipts 69000 Cash disbursements 87000 If the company has a policy of maintaining an end of the month cash balance of $44000, the amount the company would have to borrow is $11000. $27000. $18000. $0.
the task of preparing the cash budget for the business for the quarter ending September 30, 2022. Your data collection has yielded the following:i) Extracts from the sales and purchases budgets are as follows:Month CashSales SalesOn Account CashPurchases PurchasesOn AccountMay $75,000 $480,000 $390,000June $135,000 $600,000 $36,000 $360,000July $86,800 $720,000 $61,700 $450,000August $105,600 $640,000 $68,800 $400,000September $112,500 $800,000 $77,250 $500,000ii) An analysis of the records shows that trade receivables (accounts receivable)…
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The following information was taken from Trusted Care Company's cash budget for the month of April: Beginning cash balance Cash receipts Cash disbursements If the company has a policy of maintaining an end of the month minimum cash balance of $25,000, the amount the company would have to borrow is $10,000 $13,000 $11,000 $0 $27,000 62,000 75,000
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ere are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. April May June Credit sales $ 689,000 $ 598,000 $ 751,000 Credit purchases 302,000 282,000 338,000 Cash disbursements Wages, taxes, and expenses 137,000 129,000 179,000 Interest 15,600 15,600 15,600 Equipment purchases 53,500 6,600 248,000 The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $561,000. Using this information, complete the following cash budget: (Do not round intermediate calculations and round your answers to the nearest whole number,…
Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. April May June Credit sales $ 689,000 $ 598,000 $ 751,000 Credit purchases 302,000 282,000 338,000 Cash disbursements Wages, taxes, and expenses 137,000 129,000 179,000 Interest 15,600 15,600 15,600 Equipment purchases 53,500 6,600 248,000 The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $561,000. Using this information, complete the following cash budget: (Do not round intermediate calculations and round your answers to the nearest whole number,…
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