1.
Cash Collections budget | |||
November | December | Total | |
Collections in same month 75% | $ 285,000 | $ 300,000 | $ 585,000 |
Collections in following month 25% | $ 82,800 | $ 95,000 | $ 177,800 |
Total Cash Collections | $ 367,800 | $ 395,000 | $ 762,800 |
2.
Merchandise Purchase Budget | |||
November | December | Total | |
Cost of Goods Sold @72% | $ 273,600 | $ 288,000 | $ 561,600 |
Ending Inventory | $ 244,800 | $ 238,680 | $ 238,680 |
Total Needs | $ 518,400 | $ 526,680 | $ 800,280 |
Beginning Inventory | $ 232,560 | $ 244,800 | $ 232,560 |
Budgeted Purchases | $ 285,840 | $ 281,880 | $ 567,720 |
3.
Cash Budget | |||
November | December | Total | |
Cash Disbursement for merchandise | $ 195,800 | $ 285,840 | $ 481,640 |
Other monthly cash expenses | $ 21,000 | $ 21,000 | $ 42,000 |
Total cash disbursements | $ 216,800 | $ 306,840 | $ 523,640 |
Beginning cash Balance | $ 21,800 | $ 172,800 | $ 21,800 |
Add Cash Receipts | $ 367,800 | $ 395,000 | $ 762,800 |
Total Cash available | $ 389,600 | $ 567,800 | $ 784,600 |
Less cash disbursements | $ 216,800 | $ 306,840 | $ 523,640 |
Excess (Deficiency) | $ 172,800 | $ 260,960 | $ 260,960 |
Financing | |||
Ending Cash balance | $ 172,800 | $ 260,960 | $ 260,960 |
4.
Income Statement | ||
November | December | |
Sales | $ 380,000 | $ 400,000 |
Cost of Goods Sold | $ 273,600 | $ 288,000 |
Gross Profit | $ 106,400 | $ 112,000 |
Other monthly Expenses | $ 21,000 | $ 21,000 |
Depreciation | $ 20,800 | $ 20,800 |
Net Income | $ 64,600 | $ 70,200 |
5.
Balance Sheet | |
Dec-31 | |
Assets | |
Cash | $ 260,960 |
Accounts Receivable | $ 100,000 |
Iventory | $ 238,680 |
PPE | $ 976,400 |
Total Assets | $ 1,576,040 |
Liabilities & Stockholders Equity | |
Accounts Payable | $ 281,880 |
Common Stock | $ 590,000 |
Retained Earnings | $ 704,160 |
Total Liabilities & Stockholders Equity | $ 1,576,040 |
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can you please show me how to arrive at these numbers. the explanation. thanks Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow • Sales are budgeted at $300,000 for November, $320,000 for December, and $310,000 for January • Collections are expected to be 75% in the month of sale and 25% in the month following the sale. • The cost of goods sold is 76% of sales. • The company...
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $350,000 for November, $370,000 for December, and $360,000 for January. Collections are expected to be 80% in the month of sale and 20% in the month following the sale. The cost of goods sold is 69% of sales. The company desires an ending merchandise inventory equal to 80% of the cost of goods sold in the following month....
can you please tell me how you arrive at the beginning cash balance for November and december. 21,400 and 112,800. thanks for you help. Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: • Sales are budgeted at $300,000 for November, $320,000 for December, and $310,000 for January • Collections are expected to be 75% in the month of sale and 25% in the month following the sale. • The cost...
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: • Sales are budgeted at $320.000 for November. $340,000 for December, and $330,000 for January Collections are expected to be 70% in the month of sale and 30% in the month following the sale. • The cost of goods sold is 75% of sales. • The company desires an ending merchandise inventory equal to 75% of the cost of goods sold in...
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: • Sales are budgeted at $370,000 for November, $390,000 for December, and $380,000 for January • Collections are expected to be 80% in the month of sale and 20% in the month following the sale. • The cost of goods sold is 74% of sales. • The company desires an ending merchandise inventory equal to 80% of the cost of goods sold...
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operation:s follow: . Sales are budgeted at $350,000 for November, $370,000 for December, and $360,000 for January. . Collections are expected to be 80% in the month of sale and 20% in the month following the sale · The cost of goods sold is 72% of sales * The company desires an ending merchandise inventory equal to 80% of the cost of goods sold...
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $360,000 for November, $380,000 for December, and $370,000 for January. Collections are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is 70% of sales. The company desires an ending merchandise inventory equal to 85% of the cost of goods sold in the following month....
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $380,000 for November, $400,000 for December, and $390,000 for January. Collections are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is 72% of sales. The company desires an ending merchandise inventory equal to 85% of the cost of goods sold in the following month....
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $360,000 for November, $380,000 for December, and $370,000 for January. Collections are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is 70% of sales. The company desires an ending merchandise inventory equal to 85% of the cost of goods sold in the following month....
Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $380,000 for November, $400,000 for December, and $390,000 for January. Collections are expected to be 75% in the month of sale and 25% in the month following the sale. The cost of goods sold is 72% of sales. The company desires an ending merchandise inventory equal to 85% of the cost of goods sold in the following month....