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Cash Budget The owner of a building supply company has requested a cash budget for...
Cash Budget The owner of a building supply company has requested a cash budget for June....
Cash Budget The owner of a building supply company has requested a cash budget for June. After examining the records of the company, you find the following: a. Cash balance on June 1 is $1,086. b. Actual sales for April and May are as follows: April May Cash sales $10,000 $18,000 Credit sales 28,900 35,000 Total sales $38,900 $53,000 C. Credit sales are collected over a 3-month period: 40% in the month of sale, 30% in the second month, and...
. Deacon Company is a merchandising company that is preparing a budget for the three-month period...
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Deacon Company is a merchandising company that is preparing a budget for the three-month period ended June 30th. The following information is available Deacon Company Balance Sheet March 31 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 68,800 34,000 64,600 122,000 $ 289,400 $ 96,500 70,000 122,900 $ 289,400 Budgeted Income Statements April Sales $182,000 Cost of goods...
Prepare a cash budget for the month ended May 31, 2019. Campton Company anticipates a cash...
Prepare a cash budget for the month ended May 31, 2019. Campton Company anticipates a cash balance of $77,000 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 $53,000 and budgeted credit sales are $493,000. (Credit sales for April were $450,000.) In the month of sale, 40% of credit sales are collected, with the balance collected in the month following sale....
6) (12 points) Using all the information from the tables above, complete the revised cash budget...
6) (12 points) Using all the information from the tables above, complete the revised cash budget below. June Quarter Garden Sales, Inc. Cash Budget For the Quarter Ended June 30 April May Beginning cash balance Add collections from customers Total cash available Less cash disbursements: Purchases for inventory Selling & Administrative expenses Land purchases Dividends paid Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest Total financing Ending cash balance 7) (1.5 points) If the...
8a-8c Please show work, thank you! Problem 7: Calculating the Cash Budget. Here are some important...
8a-8c
Please show work, thank you!
Problem 7: Calculating the Cash Budget. Here are some important figures from the budget of Omaha Omlettes, Inc., for the second quarter of 2005. April 680,000 200,000 270,000 May 930,000 420,000 June Credit Sales Credit Purchases Cash Disbursements Wages, taxes, and exp. Interest Equipment purchases 750,000 0 10,000 4,000 12,000 15,000 4,000 15,000 4,000 10,000 The company predicts that 6% of its credit sales will never be collected, 40 % of its sales will...
8a-8c Please show work, thank you! Problem 7: Calculating the Cash Budget. Here are some important...
8a-8c
Please show work, thank you!
Problem 7: Calculating the Cash Budget. Here are some important figures from the budget of Omaha Omlettes, Inc., for the second quarter of 2005. April 680,000 200,000 270,000 May 930,000 420,000 June Credit Sales Credit Purchases Cash Disbursements Wages, taxes, and exp. Interest Equipment purchases 750,000 0 10,000 4,000 12,000 15,000 4,000 15,000 4,000 10,000 The company predicts that 6% of its credit sales will never be collected, 40 % of its sales will...
8a-8c Please show work, thank you! Problem 7: Calculating the Cash Budget. Here are some important...
8a-8c
Please show work, thank you!
Problem 7: Calculating the Cash Budget. Here are some important figures from the budget of Omaha Omlettes, Inc., for the second quarter of 2005. June 930,000 420.000 Credit Sales Credit Purchases Cash Disbursements Wages, taxes, and exp. Interest Equipment purchases April 680.000 200.000 0 10,000 4.000 10,000 May 750.000 270.000 0 12,000 4.000 15,000 15,000 4,000 10.UUU O The company predicts that 6% of its credit sales will never be collected, 40% of its...
Cash Budget The controller of Feinberg Company is gathering data to prepare the cash budget for...
Cash Budget The controller of Feinberg Company is gathering data to prepare the cash budget for July. He plans to develop the budget from the following information: Of all sales, 40% are cash sales. Of credit sales, 45% are collected within the month of sale. Half of the credit sales collected within the month receive a 2% cash discount (for accounts paid within 10 days). Thirty percent of credit sales are collected in the following month; remaining credit sales are...
Will upvote! Deacon Company is a merchandising company that is preparing a budget for the three-month...
Will upvote!
Deacon Company is a merchandising company that is preparing a budget for the three-month period ended June 30th. The following information is available Deacon Company Balance Sheet March 31 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity 73,600 39,600 66,700 192,000 $ 371,900 $ 167,300 70,000 134,600 $ 371,900 Budgeted Income Statements April Sales $189,000 Cost of goods...
The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods:...
The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: Cash Accounts receivable Inventory Building and equipment, net Accounts payable Common stock Retained earnings $ 7,600 $ 20,400 $ 40,200 $ 128,400 $ 23,925 $ 150,000 $ 22,675 a. The gross margin is 25% of sales. b. Actual and budgeted sales data: March (actual) April May June July $ 51,000 $ 67,000 $ 72,000 $ 97,000 $ 48,000...
Cash Budget The owner of a building supply company has requested a cash budget for June. After examining the records of the company, you find the following: a. Cash balance on June 1 is $1,086. b. Actual sales for April and May are as follows: April May Cash sales $10,000 $18,000 Credit sales 28,900 35,000 Total sales $38,900 $53,000 C. Credit sales are collected over a 3-month period: 40% in the month of sale, 30% in the second month, and...
.
Deacon Company is a merchandising company that is preparing a budget for the three-month period ended June 30th. The following information is available Deacon Company Balance Sheet March 31 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 68,800 34,000 64,600 122,000 $ 289,400 $ 96,500 70,000 122,900 $ 289,400 Budgeted Income Statements April Sales $182,000 Cost of goods...
Prepare a cash budget for the month ended May 31, 2019. Campton Company anticipates a cash balance of $77,000 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 $53,000 and budgeted credit sales are $493,000. (Credit sales for April were $450,000.) In the month of sale, 40% of credit sales are collected, with the balance collected in the month following sale....
6) (12 points) Using all the information from the tables above, complete the revised cash budget below. June Quarter Garden Sales, Inc. Cash Budget For the Quarter Ended June 30 April May Beginning cash balance Add collections from customers Total cash available Less cash disbursements: Purchases for inventory Selling & Administrative expenses Land purchases Dividends paid Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest Total financing Ending cash balance 7) (1.5 points) If the...
8a-8c
Please show work, thank you!
Problem 7: Calculating the Cash Budget. Here are some important figures from the budget of Omaha Omlettes, Inc., for the second quarter of 2005. April 680,000 200,000 270,000 May 930,000 420,000 June Credit Sales Credit Purchases Cash Disbursements Wages, taxes, and exp. Interest Equipment purchases 750,000 0 10,000 4,000 12,000 15,000 4,000 15,000 4,000 10,000 The company predicts that 6% of its credit sales will never be collected, 40 % of its sales will...
8a-8c
Please show work, thank you!
Problem 7: Calculating the Cash Budget. Here are some important figures from the budget of Omaha Omlettes, Inc., for the second quarter of 2005. April 680,000 200,000 270,000 May 930,000 420,000 June Credit Sales Credit Purchases Cash Disbursements Wages, taxes, and exp. Interest Equipment purchases 750,000 0 10,000 4,000 12,000 15,000 4,000 15,000 4,000 10,000 The company predicts that 6% of its credit sales will never be collected, 40 % of its sales will...
8a-8c
Please show work, thank you!
Problem 7: Calculating the Cash Budget. Here are some important figures from the budget of Omaha Omlettes, Inc., for the second quarter of 2005. June 930,000 420.000 Credit Sales Credit Purchases Cash Disbursements Wages, taxes, and exp. Interest Equipment purchases April 680.000 200.000 0 10,000 4.000 10,000 May 750.000 270.000 0 12,000 4.000 15,000 15,000 4,000 10.UUU O The company predicts that 6% of its credit sales will never be collected, 40% of its...
Will upvote!
Deacon Company is a merchandising company that is preparing a budget for the three-month period ended June 30th. The following information is available Deacon Company Balance Sheet March 31 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity 73,600 39,600 66,700 192,000 $ 371,900 $ 167,300 70,000 134,600 $ 371,900 Budgeted Income Statements April Sales $189,000 Cost of goods...
The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: Cash Accounts receivable Inventory Building and equipment, net Accounts payable Common stock Retained earnings $ 7,600 $ 20,400 $ 40,200 $ 128,400 $ 23,925 $ 150,000 $ 22,675 a. The gross margin is 25% of sales. b. Actual and budgeted sales data: March (actual) April May June July $ 51,000 $ 67,000 $ 72,000 $ 97,000 $ 48,000...
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