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Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation To

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Cash Collection Budget
July Aug Sep Total
Cash Sales 0 0 0 0
Collection From Credit Sales
Accounts Receivable 142000 142000
July Sales 126000 234000 0 360000
Aug Sales 133000 247000 380000
Sep Sales 129500 129500
Total Collection 268000 367000 376500 1011500
Merchandise Purchase Budget
July Aug Sep Total
Requirement for the month 216000 228000 222000 666000
Add: Desired Ending Inventory 57000 55500 58500 171000
Total Needs 273000 283500 280500 837000
Less: Beginning Inventory 54000 57000 55500 166500
Total Purchase 219000 226500 225000 670500
Cash Disbursement Budget - For Merchandise
July Aug Sep Total
Cash Purchase 0 0 0 0
Payment for Credit Purchases
Accounts Payable 86000 86000
July Purchase 87600 131400 0 219000
Aug Purchase 90600 135900 226500
Sep Purchase 90000 90000
Total Payment 173600 222000 225900 621500
Cash Budget
July Aug Sep
Beginning Cash Balance 95000 148400 252400
Collection from Sales 268000 367000 376500
Total Cash Available 363000 515400 628900
Cash Payments:
Merchandise Purchase 173600 222000 225900
Selling and Admin 41000 41000 41000
Total Cash Payments 214600 263000 266900
Ending Cash Balance 148400 252400 362000
Income Statement
July Aug Sep Total
Sales 360000 380000 370000 1110000
Cost of Goods Sold 216000 228000 222000 666000
Gross Margin 144000 152000 148000 444000
Operating Expenses
Selling and Admin 41000 41000 41000 123000
Depreciation 7000 7000 7000 21000
Total Operating Expenses 48000 48000 48000 144000
Net Income 96000 104000 100000 300000

Balance Sheet

Assets
Cash           362,000
Accounts Receivable           240,500
Inventory              58,500
Plant and equipment           204,000
Total Assets           865,000
Liabilities
Accounts Payable           135,000
Common Stock           332,000
Retained Earning           398,000
Total Liabilities and Equity           865,000
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