Solution 1:
Computation of Budgeted cash receipts | |||
Particulars | June | July | August |
Collection for April Sales | $865.00 | ||
Collection for May Sales | $8,330.00 | $1,190.00 | |
Collection for June Sales | $15,540.00 | $9,065.00 | $1,295.00 |
Collection for July Sales | $23,340.00 | $13,615.00 | |
Collection for August Sales | $24,660.00 | ||
Budgeted cash receipts | $24,735.00 | $33,595.00 | $39,570.00 |
Computation of Budgeted cash Payments | |||
Particulars | June | July | August |
Accounts payable | $2,700.00 | ||
Payments for June Purchases | $4,850.00 | $4,850.00 | |
Payments for July Purchases | $9,150.00 | $9,150.00 | |
Payments for August Purchases | $6,450.00 | ||
Budgeted cash receipts | $7,550.00 | $14,000.00 | $15,600.00 |
Solution 2:
Balances for August 31 | |
Budgeted Balance Sheet | |
Particulars | Amount |
Cash: | |
June 1 Balance | $15,500.00 |
Add: Total cash receipts | $97,900.00 |
Less: Total cash payments | $37,150.00 |
August 31, balance | $76,250.00 |
Supplies Inventory | |
20% of August Purchase | $2,580.00 |
Accounts receivables: | |
40% of August Sales | $16,440.00 |
5% of July Sales | $1,945.00 |
Balance at August 31 | $18,385.00 |
Accounts payable: | |
50% of August Purchase | $6,450.00 |
Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are...
Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 50 percent of their fees in the month the service is provided. In the month following service, Paul collects 40 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent...
Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 40 percent of their fees in the month the service is provided. In the month following service, Paul colects 50 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent...
Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 60 percent of their fees in the month the service is provided. In the month following service, Paul collects 35 percent of service fees. The final 5 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent...
Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 70 percent of their fees in the month the service is provided. In the month following service, Paul collects 25 percent of service fees. The final 5 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent...
Paul's Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 60 percent of their fees in the month the service is provided. In the month following service, Paul collects 35 percent of service fees. The final 5 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent...
Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 40 percent of their fees in the month the service is provided. In the month following service, Paul collects 50 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent...
Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 60 percent of their fees in the month the service is provided. In the month following service, Paul collects 35 percent of service fees. The final 5 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent...
Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 70 percent of their fees in the month the service is provided. In the month following service, Paul collects 25 percent of service fees. The final 5 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent...
Paul’s Pool Service provides pool cleaning, chemical application, and pool repairs for residential customers. Clients are billed weekly for services provided and usually pay 50 percent of their fees in the month the service is provided. In the month following service, Paul collects 40 percent of service fees. The final 10 percent is collected in the second month following service. Paul purchases his supplies on credit, and pays 50 percent in the month of purchase and the remaining 50 percent...
Paul's Pool Service provides pool cleaning, chemical applicason, and pool repairs foe residential customers C service, Paul collects 15 percent of service fees. The final 5 percent is colected in the second month following purchase of the suppies Paul purchases, 70 percent used inthe mora, or purchase, and the remander ents are blled weekly for services peovided and usually pay 80 percent of their fees in the month the service is tollawring service. Paul purchases his supplies on credit and...