Question

I have a hard time doing budgets using excel. can someone help me out with questions on this? I did not do well when I submitted it so I am not sure what I did wrong.

Answer 1

Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you Part 1 Tatal April 35,000 $ 37,000 $ 39,0000 $ May June Budgoted Sale Cash sale Credit Sale 112,000 S 62% S 22,320 $22,940 $ 24,180 $ 69,440 38% S 13,680 14,060 14,820 $ 42,560 Budgeted Cash Receipt Schedule Far balance sheet Аpril Мay June Accounts Receivable $ 14,440 March Credit Sale $ 13,680 April Credit Sale May Credit Sale 14,050 June Credit Sale 14,820 $ 22,320 $ 22,940 $ 24,180 Cash Sale 36,760 $ 36,620 38,240 $ Budgeted Cash Recelpts 14,820 Part 2 April Мay $ 29,520 30,340 31,980 $ June July Cost of Goods Sold 82% of Sale S 91,840 Add: Desired Ending Inventory 12,136 $ 12,792 $ 36,736 40% Total need 43,132 $ -11,808 -12,136 -12,792 s 29,848 30,996 55,924 68,716 41,656 Less: Deginning Inventory Purchases Payable 14,626 $ 15,188 $ 27,403 49% Payment Same Month $ 15,557 $ 15,222 15,8a08 $ 51% Payment Next Month S 28,521 30,183 30,411 43,211 $ Budgeted Payment 28,521 Part 3 April Мay June 10 % Salaries and wages 3,600 $ 3,700 $ 3,900 4 % 1,440 $ 1,480 $ Commissions 1,550 900 S Advertising 900 S 900 200 Utilities 200 S 200 Cash Disbursment for Selling Cost 6.140 S S 6,280 6,560 Part 4 April May June 2,000 2,000 2,000 Rent 900 900 Depreciation 900 S Total Gen and Admin Expense 2,900 2,900 $ 2,900 -900 $ 900 Less: Depreciation 900 Cash Disbursment for Gen and Admin 2,000 S 2,000 S 2,000 Part S Total April Мay June Beginning Cash balance -1,563 $ - 3,633 $ Add: Budgeted cash Receipts 36,760 $ 36,620 $38,240 $ S 111,620 $36,760 35,057 34,607 $ Total cash available 111,620 Less: Cash payment For Purchase S 30,183 $ 30,411 $ 43,211 103.804 18,980 For Selling Expense 6,280 0,560 $ S 6,140 2,000 $ 2,000 $ For Gen and Admin. 2,000 6,000 Total Payment 38,323 38,691 $ 51,771 $ 128,784 S -1,563 $ 3,633 17,164 Ending Balance S -17,164 Part 7 Sales Revenue S 112,000 s-91,840 S 20,160 Less: Cost of Goods Sold Gross Margin Less: Operating Expense Salaries and wages 11,200 $ 4,480 $ 2,700 $ 600 $ 6,000 Commissions Advertising Utilities Rent 2,700 Depreciation Total Operating Expense S27,080 Operating Income S -7,520 Net Income/(Loss) -7,520