1.
Here , terms of receipts of the payment for credit sales is current sales amount to be received in next month . Hence Sep credit sales payment will be received in Oct , Accordingly Oct in Nov and Nov in Dec . So we will arrange as cash sales collection in same month and credit sales collection in next month .
Hence cash receipt budget would be like
Cash receipt from cusotmer's Budget | ||||
Oct | Nov | Dec | Total | |
Oct's Collection | ||||
From Oct. Sales | $ 36,000 | $ 36,000 | ||
From Sep. Sales | $ 10,000 | $ 10,000 | ||
Total Oct's Collections | $ 46,000 | $ 46,000 | ||
Nov's Collection | $ 000 | |||
From Nov. Sales | $ 45,000 | $ 45,000 | ||
From Oct. Sales | $ 12,000 | $ 12,000 | ||
Total Nov's Collections | $ 57,000 | $ 57,000 | ||
Dec's Collection | $ 000 | |||
From Dec. Sales | $ 54,000 | $ 54,000 | ||
From Nov. Sales | $ 15,000 | $ 15,000 | ||
Total Dec's Collections | $ 69,000 | $ 69,000 | ||
Total Cash receipts | $ 46,000 | $ 57,000 | $ 69,000 | $ 1,72,000 |
2.
Here , terms of the payment for credit purchase is current month purchase amount to be paid in next month . Hence Sep credit purchase payment will be paid in Oct , Accordingly Oct in Nov and Nov in Dec . So we will arrange as cash purchase payment in same month and credit purchase payment in next month .
Hence cash receipt budget would be like
Purchase payment budget | ||||
Oct | Nov | Dec | Total | |
Oct's Purch. payment | ||||
For Oct.Purchase | $ 12,000 | $ 12,000 | ||
For Sep.Purchase | $ 5,000 | $ 5,000 | ||
Total Oct's Purch. payments | $ 17,000 | $ 17,000 | ||
Nov's Purch. payment | ||||
For Nov.Purchase | $ 18,000 | $ 18,000 | ||
For Oct.Purchase | $ 4,000 | $ 4,000 | ||
Total Nov's Purch. payments | $ 22,000 | $ 22,000 | ||
Dec's Purch. payment | ||||
For Dec.Purchase | $ 25,000 | $ 25,000 | ||
For Nov.Purchase | $ 7,000 | $ 7,000 | ||
Total Dec's Purch. payments | $ 32,000 | $ 32,000 | ||
Total Purchase payments | $ 17,000 | $ 22,000 | $ 32,000 | $ 71,000 |
3.
Here in below cash budget cash receipts have been take from cash receipts budget and purchase payment taken from purchase payment budget. New Asset purchase in cash Rs10000 in Oct. We assume excess cash is use to pay in earlier loan . Depreciation will not be consider in cash budget as there is no impact of cash in depreciation. We assume Sep cash balance is minimum balance Rs.75000/- and Dec as per question Rs.60000/-
Cash Budget | ||||
Oct. | Nov. | Dec. | Total | |
Beginning cash balance | $ 75,000 | $ 75,000 | $ 75,000 | $ 2,25,000 |
Cash Receipts | $ 46,000 | $ 57,000 | $ 69,000 | $ 1,72,000 |
Cash Avaiable | $ 1,21,000 | $ 1,32,000 | $ 1,44,000 | $ 3,97,000 |
Cash Payment | ||||
For Purchase | $ 17,000 | $ 22,000 | $ 32,000 | $ 71,000 |
For Sales and adm Exp | $ 16,020 | $ 16,370 | $ 1,520 | $ 33,910 |
For Additional Assets | $ 10,000 | $ 10,000 | ||
Total Cash Payment | $ 43,020 | $ 38,370 | $ 33,520 | $ 1,14,910 |
Cash Balance before financing | $ 77,980 | $ 93,630 | $ 1,10,480 | $ 2,82,090 |
Minimum Cash Balance | 75000 | 75000 | 60000 | $ 2,10,000 |
Cash Excess (Shortage) | $ 2,980 | $ 18,630 | $ 50,480 | $ 72,090 |
Financing | ||||
Borrowing | ||||
Principal Payment | $ 2,980 | $ 18,360 | $ 50,480 | $ 71,820 |
Interest payment | ||||
Financing effect | $ 2,980 | $ 18,360 | $ 50,480 | $ 71,820 |
Ending Cash Balance | 75000 | 75000 | 60000 | $ 2,10,000 |
Total You are provided with the following Sales Budget, archases Budget and selling and administrative expenses...
Requirement 1 Cash receipt from customer's Budget Dec Total You are provided with the following Sales Budget, Purchases Budget and selling and administrative expenses budget for Salhiya World Co. for the last quarter of the year 2019. Nov Oct. Oct. Collections From Oct. Sales From Sep Sales Total Oct collection Nev, Cellections: Froem Nov. Sales From Oct Sales Total Nov collections Dec. Collections: From Dec. Sales Frem Nov. Sales Total Dec. collections Total cash receipt (ISles Budeet Tetal 135,000 45,000...
Requirement 1 Cash receipt from customer's Budget Dec Total You are provided with the following Sales Budget, Purchases Budget and selling and administrative expenses budget for Salhiya World Co. for the last quarter of the year 2019. Nov Oct. Oct. Collections From Oct. Sales From Sep Sales Total Oct collection Nev, Cellections: Froem Nov. Sales From Oct Sales Total Nov collections Dec. Collections: From Dec. Sales Frem Nov. Sales Total Dec. collections Total cash receipt (ISles Budeet Tetal 135,000 45,000...
MUST SHOW ALL CELL FORMULAS
Required: You need to prepare a comprehensive
12-month budget, including supporting schedules and a report for
the period January 1, 2020 to December 31, 2020 for Hedron,
Inc.
INFORMATION FOR HEDRON, INC.
Hedron, Inc. is a company that re-sells one product, a
particularly comfortable lawn chair. An overseas contractor makes
the product exclusively for Hedron, so Hedron has no manufacturing
related costs.
PRODUCT COSTS
In Nov of 2019, each lawn chair costs
Hedron $4 per...
Die Truesdal Sales Purchases Salaries Administrative expenses Selling expenses January February $260.000 $318.000 112,000 120.000 72,000 78,000 58,000 60.000 30,000 es and purchases are on account, Budgeted collections and disbursement de 36,000 administrative expenses, which include $2,000 of depreciation per month elow. All other expenses are paid in the month incurred except for are given below. All other expe Other data Collections from customers: January $279,500; February $298,000. Payment for purchases: January $106.000; February $116,000. s. Other receipts January collection...
help please
Winter 2020 Budget Planning Following is selected information relating to the operations of Pocketchange Company, a tile distributor September 30, 2020 - Trial Balance information Cash.. Accounts receivable.... Inventory... Plant and equipment, net of Acc Dep Accounts payable.......... Capital stock........................ Retained earnings.................... 8.000 24.800 39.600 428 200 24,050 150.000 326,550 $ 500 600 $ 500,600 a. Actual and budgeted sales data: September (actual).................. October November December.... January... 62,000 66,000 80.000 94,000 48,000 b. Gross profit is 25% of...
Create These budgets:
-selling and administrative expense budget
-cash budget include a schedule of cash collections and
payments
-finished goods inventory calculation
Then, Create the following schedules, financial statements, and
calculations
A) Pro forma cost of goods manufactured
B) Pro forma Cost of goods sold- both financial and variable
cost basis
C) Pro forma income statement (financial basis)
D) Pro forma balance sheet
E)Pro forma Income statement (variable cost basis)
F) Pro forma statement of retained earnings
G) breakeven analysis:...
Prepare Cash Budget from Budgeted Transactions Prepare a cash budget for the month ended May 31, 2019. Campton Company anticipates a cash balance of $91,000 on May 1, 2019. The following budgeted transactions for May 2019 present data related to anticipated cash receipts and cash disbursements: 1. For May, budgeted cash sales are $67,000 and budgeted credit sales are $507,000. (Credit sales for April were $450,000.) In the month of sale, 40% of credit sales are collected, with the balance...
help please
Winter 2020 Budget Planning Following is selected information relating to the operations of Pocketchange Company, a tile distributor September 30, 2020 - Trial Balance information $ ................................. Accounts receivable..... ......... Inventory Plant and equipment, net of Acc. Dep. Accounts payable.............................. Capital stock......................... Retained earnings.... . ....... 8.000 24.800 39.600 428,200 24,050 150,000 326,550 500,600 $ 500,600 $ a. Actual and budgeted sales data: September (actual)................... October.... November................................ December................... .. January... BERBEDRE 62.000 66,000 80,000 94,000 48.000 b. Gross...
Prepare Cash Budget from Budgeted Transactions Prepare a cash budget for the month ended May 31, 2019. Campton Company anticipates a cash balance of $97,000 on May 1, 2019. The following budgeted transactions for May 2019 present data related to anticipated cash receipts and cash disbursements: 1. For May, budgeted cash sales are $73,000 and budgeted credit sales are $513,000. (Credit sales for April were $450,000.) In the month of sale, 40% of credit sales are collected, with the balance...
Maynard Company has the following projected costs for manufacturing and selling and administrative expenses: epay any amounts owed. Interest owed from the previous month's principal balance is paid on the first of the month at 14% E: (Click the icon to view the projected costs.) Prepare a schedule of cash payments for Maynard for January, February, and March. Determine the balances in Prepaid Property Taxes, Accounts Payable, and Utilities Payable as of March 31. (If a box is_ - X...