Question

Garden Sales, Inc. cash and Earnings budget/forecast problem

You are the Business Manager of Garden Sales, Inc and the bank has asked you to prepare a cash and earnings budget/forecast and Pro-Forma Balance Sheet and Income Statement for the next quarter. After your discussion with the various departments, you have come up with the following information/assumptions:

Cash Budget Problem.png

0 0
Add a comment Improve this question Transcribed image text
Answer #1

answered by: Book Solutions
Add a comment
Know the answer?
Add Answer to:
Garden Sales, Inc. cash and Earnings budget/forecast problem
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • prepare a cash budget/forecast for each month of jan, feb and march 2018. income statement and...

    prepare a cash budget/forecast for each month of jan, feb and march 2018. income statement and balance sheet 13.00 Noce vete hai Acum Depr Contact Renderings 1140 You are the Business Manager of Garden Sales, Inc and the bank has asked you to prepare a cash and carings budget/forecast and Pro-Forma Balance Sheet and Income Statement for the next quarter. After your discussion with the various departments, you have come up with the following information/assumptions: . • • • November...

  • cash budget, income statement and balance sheet Garden Sale December 11, 2017 25.200 Account Payable Working...

    cash budget, income statement and balance sheet Garden Sale December 11, 2017 25.200 Account Payable Working Cane Ng Paya 112.500 53.000 12,000 5 Prepaid Rem $ Prop. Plant & top Accum Depr 900 DOO (100.000 800.000 Commons Retained tamnings 200.000 772300 5 Net PPLES Total Assets You are the Business Manager of Garden Sales, Inc and the bank has asked you to prepare a cash and carnings budget/forecast and Pro-Forma Balance Sheet and Income Statement for the next quarter. After...

  • Garden Sale Inc. December 31, 2017 0.000 24720 Cash Accounts Receivable Inventory Prepaid Rent Account Payable...

    Garden Sale Inc. December 31, 2017 0.000 24720 Cash Accounts Receivable Inventory Prepaid Rent Account Payable Working Capital Line Note Payable 12.000 900.000 Prop. Plant & Equip Acum Depr Common Stock Retained Earnings 200.000 771 580 Net PPLES Total Assets You are the Business Manager of Garden Sales, Inc and the bank has asked you to prepare a cash and earnings budget/forecast and Pro-Forma Balance Sheet and Income Statement for the next quarter. After your discussion with the various departments,...

  • prepare cash budget, income statement and balance sheet December 31, 2017 Accounts Receivable Inventory 112.500 57.000...

    prepare cash budget, income statement and balance sheet December 31, 2017 Accounts Receivable Inventory 112.500 57.000 12.000 Account Payable Working Capital Line Note Payable Prop, Plant Equip Acum Depr 200,000 300,000 100,000 300,000 Common Stock Retained Earnings Net PPBE $ Total Assets 0 .500 $ 1.500 You are the Business Manager of Garden Sales, Inc and the bank has asked you to prepare a cash and earnings budget forecast and Pro-Forma Balance Sheet and Income Statement for the next quarter....

  • 13.00 Noce vete hai Acum Depr Contact Renderings 1140 You are the Business Manager of Garden...

    13.00 Noce vete hai Acum Depr Contact Renderings 1140 You are the Business Manager of Garden Sales, Inc and the bank has asked you to prepare a cash and carings budget/forecast and Pro-Forma Balance Sheet and Income Statement for the next quarter. After your discussion with the various departments, you have come up with the following information/assumptions: . • • • November 2017 and December 2017 sales were $100,000, each month Sales for the following three months will increase $2,000...

  • a) Sales budget October November December Cash Sales $ 126,000.00 $ 157,500.00 $ 196,875.00 Sales on...

    a) Sales budget October November December Cash Sales $ 126,000.00 $ 157,500.00 $ 196,875.00 Sales on Account $ 154,000.00 $ 192,500.00 $ 240,625.00 Total Budgeted Sales $ 280,000.00 $ 350,000.00 $ 437,500.00 b) Schedule of cash receipts October November December Current Cash sales $ 126,000.00 $ 157,500.00 $ 196,875.00 Add: Collection From A/R $ $ 154,000.00 $ 192,500.00 Total Collections $ 126,000.00 $ 311,500.00 $ 389,375.00 C) Inventory purchase budget October November December Budgeted Cost of goods sold $ 168,000.00...

  • Problem 14-18 Preparing an inventory purchases budget and schedule of cash payments LO 14-3 Humboldt, Inc....

    Problem 14-18 Preparing an inventory purchases budget and schedule of cash payments LO 14-3 Humboldt, Inc. sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July April May June July $37,500 $34.000 $30,000 $45,000 Budgeted cost of goods sold Humboldt had a beginning inventory balance of $1,800 on April 1 and a beginning balance in accounts payable of $7.400. The company desires to maintain an ending inventory balance equal to...

  • Garden Space Novelties, Inc. budgeted the sales of their latest garden decoration as follows: Unit Sales...

    Garden Space Novelties, Inc. budgeted the sales of their latest garden decoration as follows: Unit Sales April.........................7,000 May..........................6,000 June.......................14,000 July.........................12,000 The desired ending inventory must equal 10% of the next month's sales. The inventory at the end of March was 2,000 units. Prepare a production budget for the second quarter by month and in total for the quarter.

  • PROBLEM 8-24 Cash Budget with Supporting Schedules [LO2, LO4, LO8) Garden Sales, Inc., sells garden supplies....

    PROBLEM 8-24 Cash Budget with Supporting Schedules [LO2, LO4, LO8) 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 equip- ment, 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: April $800,000 420,000 180,000 Cost...

  • Problem 8-24 Cash Budget with Supporting Schedules [LO8-2, LO8-4, LO8-8] Garden Sales, Inc., sells garden supplies....

    Problem 8-24 Cash Budget with Supporting Schedules [LO8-2, LO8-4, LO8-8] 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: April $ 600,000 420,000 180,000 May...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT