Solution 1:
Schedule of expected cash collection - Beech Corporation | ||||
Particulars | July | August | September | Total |
Accounts Receivables from June | $132,000.00 | $132,000.00 | ||
Cash received for July Sale | $87,500.00 | $162,500.00 | $250,000.00 | |
Cash received for August Sale | $94,500.00 | $175,500.00 | $270,000.00 | |
Cash received for September Sale | $91,000.00 | $91,000.00 | ||
Budgeted Cash Collection | $219,500.00 | $257,000.00 | $266,500.00 | $743,000.00 |
Solution 2a:
Material Purchase Budget - Beech Corporation | ||||
Particulars | July | August | September | Total |
Budgeted Cost of goods sold | $187,500.00 | $202,500.00 | $195,000.00 | $585,000.00 |
Add: Desired ending merchandise inventory | $60,750.00 | $58,500.00 | $63,000.00 | $63,000.00 |
Total Needs | $248,250.00 | $261,000.00 | $258,000.00 | $648,000.00 |
Less: Opening Inventory | $56,250.00 | $60,750.00 | $58,500.00 | $56,250.00 |
Required purchases | $192,000.00 | $200,250.00 | $199,500.00 | $591,750.00 |
solution 2b:
Schedule of expected cash disbursement for merchandise purchases - Beech Corporation | ||||
Particulars | July | August | September | Total |
Payables from June | $75,000.00 | $75,000.00 | ||
July Purchases | $76,800.00 | $115,200.00 | $192,000.00 | |
August Purchases | $80,100.00 | $120,150.00 | $200,250.00 | |
September Purchases | $79,800.00 | $79,800.00 | ||
Total payments in month | $151,800.00 | $195,300.00 | $199,950.00 | $547,050.00 |
solution 3:
Income Statement - Beech Corporation | |
For Quarter Ended - September 30 | |
Particulars | Amount |
Sales | $780,000.00 |
Cost of Sales | $585,000.00 |
Gross Profit | $195,000.00 |
Operating Expenses: | |
Selling and adminstrative expenses | $138,000.00 |
Net Income | $57,000.00 |
solution 4:
Balance Sheet- Beech Corporation | |
30-Sep | |
Particulars | Amount |
Assets: | |
Cash ($81,000 + $743,000 - $547,050 - $123,000) | $153,950.00 |
Accounts receivables ($260,000*65%) | $169,000.00 |
Inventory | $63,000.00 |
Plant and equipment net of depreciation ($214,000 - $15,000) | $199,000.00 |
Total Assets | $584,950.00 |
Liabilities and stockholder's Equity: | |
Accounts payable ($199,500*60%) | $119,700.00 |
Common Stock | $346,000.00 |
Retained Earnings ($62,250 + $57,000) | $119,250.00 |
Total liabilities and stockholders equity | $584,950.00 |
Required information [The following information applies to the questions displayed below.) Beech Corporation is a merchandising...
Required information (The following information applies to the questions displayed below.) Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 92,000 130,000 48,600...
Required information [The following information applies to the questions displayed below.] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 90,000 136,000 62,000...
Required information The following information applies to the questions displayed below.) Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Coomon stock Retained earnings Total liabilities and stockholders' equity $ 71,000 131.000 45.500...
[The following information applies to the questions displayed below) Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below. Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 90,000 136,000 62,000 210,000 $498,000...
Chel Required information The following information applies to the questions displayed below.) Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stokkholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity 96,000 139,000 70.200...
Required information [The following information applies to the questions displayed below.] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company’s balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash $ 73,000 Accounts receivable 125,000 Inventory 56,000 Plant and equipment, net of depreciation 221,000 Total assets $ 475,000 Liabilities and Stockholders’ Equity Accounts payable $ 82,000 Common stock 309,000 Retained...
please show steps thanks! Required information The following information applies to the questions displayed below Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below Beech Corporation Balance Sbeet June 30 Assets Cash Accounts receivable Inventory 96,000 139, 000 70,200 228,000 Lant and equipment, net of depreciation Total assets S 533,200 Liabilities and Stockholders Equity Accounts payable Conmon stoek...
Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 90,00 136,000 52.000 210,000 5498.000 $71.100 327.ee 99,900 $498,000 Beech's managers have made the...
Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 72,000 128,000 60,900 218,000 $ 478,900 $ 79,000 308,000 91,900 $ 478,900 Beech's managers...
Saved automatic | Che Required information [The following information applies to the questions displayed below] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash $ 96,000 139,000 70,200 228,000 $ 533,200 Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stokkholders Equity Accounts payable Conmon stock...