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PART II: Management's Cash flow Assumptions - 15% Based on 2017 sales, Rosario Resources Management has...
CASH FLOW FORECAST Happy Manufacturing had sales of $65,000 in March and $75,000 in April. Forecast...
CASH FLOW FORECAST Happy Manufacturing had sales of $65,000 in March and $75,000 in April. Forecast sales for May, June and July are $85,000, $95,000, and $120,000, respectively Given the following data, calculate monthly net cash flow for the months of May, June, and July (1) The firm makes 20% of sales for cash; 30 % are collected in the next month, and the remaining 50% are collected in the second month following the sale. The firm receives other income...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: To prepare...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: To prepare a master budget for April May, and June of 2017. management gathers the following information: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash $ 53,000 Accounts receivable 392,400 Raw materials inventory 96,600 Finished goods 313,920 inventory Total current assets 855,920 Equipment, qross 626,000 Accumulated (163,000) depreciation Equipment, net 463,000 Total assets $1,318,920 Liabilities and Equity Accounts payable $ 204,800 Short-term notes payable...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, gross Accumulated depreciation Equipment, net Total assets 43,000 432,900 86,198 387,168 949,266 606,000 (153, 000) 453,000 $1,402,266 Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet ch 31, 2017 Assets Cash S 58,000 484,640 91,290 393,304 Accounts receivable Raw materials inventory Finished goods inventory Total current assets 1,027,234 636,000 (168,000) Equipment, gross Accumulated depreciation Equipment, net 468,000 Total assets $1,495,234 Liabilities and Equity Accounts payable 206,390 30.000 payable -term no ities 236,390 525,000 otal Lonq-term note payable Total liabilities 761,390 353,000 380,844 733,844 Common stock Retained earnings...
Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter....
Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter to support peak sales of lawn care equipment, which occur during May. The following information has been assembled to assist in preparing a cash budget for the quarter: a. Budgeted monthly absorption costing income statements for April-July are: Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expense Administrative expense Total...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 20...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, gross Accumulated depreciation Equipment, net Total assets $ 65, 000 437,760 90,200 308,028 900,988 630,000 (165,000) 465,000 $1,365,988 Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and...
Please advise my math isnt adding up.. Near the end of 2017, the management of Dimsdale...
Please advise my math isnt adding up.. Near the end of 2017, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2017. DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2017 Assets Cash $ 36,500 Accounts receivable 520,000 Inventory 90,000 Total current assets $ 646,500 Equipment 588,000 Less: accumulated depreciation 73,500 Equipment, net 514,500 Total assets $ 1,161,000 Liabilities and Equity Accounts payable $ 370,000 Bank loan payable 14,000 Taxes payable...
Exercise 10.33 Novak Inc. has budgeted sales for the second quarter of $300,000 for April; $500,000...
Exercise 10.33 Novak Inc. has budgeted sales for the second quarter of $300,000 for April; $500,000 for May; and $600,000 for June. Normally, 20 % are cash sales and 80% of sales are on account. As well, 30% of the sales on account are normally collected during the month of sale, 50% in the following month, and 20 % in the second month following sale. The accounts receivable balance as of April 1 is $250,000. Prepare the schedule of cash...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, gross Necumulated depreciation Equipment, net Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity 58,000 484,640 91,290 393, 304 1.027,234 616.000 (160,000) 468,000 $1,495,234...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash $ 53,000 Accounts receivable 392,400 Raw materials inventory 96,600 Finished goods 313, 920 inventory Total current assets 855,920 Equipment, gross 626,000 Accumulated depreciation (163,000) Equipment, net 463.000 Total assets $1,318.920 Liabilities and Equity Accounts payable $ 204,800 Short-term notes 25,000 payable Total current liabilities 229,800 Long-term note payable – 520,000 Total liabilities 749,800 Common stock 348,000...
CASH FLOW FORECAST Happy Manufacturing had sales of $65,000 in March and $75,000 in April. Forecast sales for May, June and July are $85,000, $95,000, and $120,000, respectively Given the following data, calculate monthly net cash flow for the months of May, June, and July (1) The firm makes 20% of sales for cash; 30 % are collected in the next month, and the remaining 50% are collected in the second month following the sale. The firm receives other income...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: To prepare a master budget for April May, and June of 2017. management gathers the following information: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash $ 53,000 Accounts receivable 392,400 Raw materials inventory 96,600 Finished goods 313,920 inventory Total current assets 855,920 Equipment, qross 626,000 Accumulated (163,000) depreciation Equipment, net 463,000 Total assets $1,318,920 Liabilities and Equity Accounts payable $ 204,800 Short-term notes payable...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, gross Accumulated depreciation Equipment, net Total assets 43,000 432,900 86,198 387,168 949,266 606,000 (153, 000) 453,000 $1,402,266 Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet ch 31, 2017 Assets Cash S 58,000 484,640 91,290 393,304 Accounts receivable Raw materials inventory Finished goods inventory Total current assets 1,027,234 636,000 (168,000) Equipment, gross Accumulated depreciation Equipment, net 468,000 Total assets $1,495,234 Liabilities and Equity Accounts payable 206,390 30.000 payable -term no ities 236,390 525,000 otal Lonq-term note payable Total liabilities 761,390 353,000 380,844 733,844 Common stock Retained earnings...
Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter to support peak sales of lawn care equipment, which occur during May. The following information has been assembled to assist in preparing a cash budget for the quarter: a. Budgeted monthly absorption costing income statements for April-July are: Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expense Administrative expense Total...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, gross Accumulated depreciation Equipment, net Total assets $ 65, 000 437,760 90,200 308,028 900,988 630,000 (165,000) 465,000 $1,365,988 Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and...
Exercise 10.33 Novak Inc. has budgeted sales for the second quarter of $300,000 for April; $500,000 for May; and $600,000 for June. Normally, 20 % are cash sales and 80% of sales are on account. As well, 30% of the sales on account are normally collected during the month of sale, 50% in the following month, and 20 % in the second month following sale. The accounts receivable balance as of April 1 is $250,000. Prepare the schedule of cash...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Equipment, gross Necumulated depreciation Equipment, net Total assets Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities Long-term note payable Total liabilities Common stock Retained earnings Total stockholders' equity Total liabilities and equity 58,000 484,640 91,290 393, 304 1.027,234 616.000 (160,000) 468,000 $1,495,234...
The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash $ 53,000 Accounts receivable 392,400 Raw materials inventory 96,600 Finished goods 313, 920 inventory Total current assets 855,920 Equipment, gross 626,000 Accumulated depreciation (163,000) Equipment, net 463.000 Total assets $1,318.920 Liabilities and Equity Accounts payable $ 204,800 Short-term notes 25,000 payable Total current liabilities 229,800 Long-term note payable – 520,000 Total liabilities 749,800 Common stock 348,000...
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