Question

Show Me How The controller of EB from August sales). Sales on account for July and August were $104,000 and $114,000, respectively. Current liabilities as of September ? ? dude $7,000 of accounts incurred in August for m g costs. All selling and payment of $19,000 will be madhin October. Bridgeport's regular quarterly dividend of $7,000 is expected to be declared in October and paid in November. Management desires to maintain a minimum cash balance of $48,000. Cash Budget r 30 4ans/2018

Answer 1

Bridgeport housewares Inc. Cash Budget For the three months ending November 30 Collection of Accounts Receivable September October November September October November Total Estimated Cash Receipts: Cash Sales Collection of Accounts Receivable Total Cash Receipts July August September October 31200 13000 111000 124000 15500 116100 131600 21300 132750 154050 31200 114000 5100 117000 9765097650 132750 359850 79800 34200 81900 111000 116100 Less:Estimated cash payments for Manufacturing costs Selling and admin Capital Expenditures Other Purposes: Income tax Dividends Total Payments Cash Increase / Decrease Plus:Cash Balance at the Beg Cash Balance at the end Less:Minimum Cash Balance Excess 57600 Manufacturing Costs 26000 81000 51000 47000 September October November Total Total 67000 77000 199000 21000 70000 178000 Dep,Ins, Prop tax 7000 48000 7000 7000 19000 60000 91400 32600 49000 81600 123600 8000 81600 89600 7000 165000 10950 89600 78650 Cash Paymnets August September October November 7000 7000 9600 48000 12000 14000 26000 60000 14000 129000 57600 33600 41600