1) | Cash Collection Budget | |||||
Particulars | October | November | December | |||
Cash sales | (a) | $ 77,000.00 | $ 81,200.00 | $ 87,800.00 | ||
Credit sales | $ 435,000.00 | $ 538,000.00 | $ 644,000.00 | |||
Collection of credit sales: | ||||||
For October | $ 87,000.00 | $ 261,000.00 | $ 78,300.00 | |||
For November | $ 107,600.00 | $ 322,800.00 | ||||
For December | $ 128,800.00 | |||||
Total credit sales collection (b) | $ 529,900.00 | |||||
Total collections | (a+b) | $ 617,700.00 |
2) | Cash Disbursement Budget | ||||
Particulars | Amount | ||||
Purchase made | $ 341,000.00 | ||||
Payment made for Dec purchase | $ 102,300.00 | (a) | |||
Payment of accounts payable | $ 165,000.00 | (b) | |||
Tota cash disbursement | $ 267,300.00 | (a+b) |
3) | Cash Budget | ||||
Particulars | Amount | ||||
Beginning balance | $ 53,400.00 | ||||
Cash Collections | $ 617,700.00 | ||||
Total cash available | $ 671,100.00 | (a) | |||
Less: | Disbursements | ||||
Payment for merchandise | $ 267,300.00 | ||||
Selling and Adm. Expenses | $ 421,100.00 | (excluding depreciation) | |||
New Web Server purchase | $ 121,500.00 | ||||
Dividend payment | $ 13,000.00 | ||||
Total disbursements | $ 822,900.00 | (b) | |||
Excess of disbursement | $(151,800.00) | (a-b) | |||
Minimum cash balance req | $ 20,000.00 | ||||
Financing: | |||||
Loan taken | $ 171,800.00 | ||||
Ending cash balance | $ 20,000.00 |
You have been asked to prepare a December cash budget for Ashton Company, a distributor of...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company’s operations: The cash balance on December 1 is $53,400. Actual sales for October and November and expected sales for December are as follows: October November December Cash sales $ 77,000 $ 81,200 $ 87,800 Sales on account $ 435,000 $ 538,000 $ 644,000 Sales on account are collected over a three-month period as follows:...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $58,600. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October $ 73,200 $ 485,000 November December $ 78,000 $ 92,000 $ 568,000 $ 663,000 Sales on account are collected over a three-month period...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $41,000. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October November December $ 68,400 $ 87,400 $ 95, 800 $ 415,000 $ 614,000 $ 692,000 Sales on account are collected over a three-month...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $53,200. b. Actual sales for October and November and expected sales for December are shown below. Sales on account are collected over a three-month period as follows: 20% collected in the month of sale, 60% collected in the month following sale, and 18% collected in...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $58,600. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October November December $ 73,200 $ 78,000 $ 92,000 $ 485,000 $ 568,000 $ 663,000 Sales on account are collected over a three-month period...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $56,600. b. Actual sales for October and November and expected sales for December are shown below. Sales on account are collected over a three-month period as follows: 20% collected in the month of sale, 60% collected in the month following sale, and 18% collected in...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: points a. The cash balance on December 1 is $56,600. b. Actual sales for October and November and expected sales for December are as follows: eBook Cash sales Sales on account October November December $ 71,200 $ 73,400 $ 86,200 $ 440,000 $ 576,000 $ 639,000 Print Sales on account are collected over...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $41,000. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October November December $ 68,400 $ 87,400 $ 95,800 $ 415,000 $ 614,000 $ 692,000 Sales on account are collected over a three-month period...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 will be $39,000. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October $ 65,000 397,000 November $ 65,000 522,000 December $ 82,600 598,000 Sales on account are collected over a three-month period in the...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $51,400. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October November December $ 71, 600 S 80,200 $ BB, 600 $ 120,000 $$80,000 $ 652,000 Sales on account are collected over a three-month...