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 |
Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equip...
Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 72,000 128,000 60,900 218,000 $ 478,900 $ 79,000 308,000 91,900 $ 478,900 Beech's managers...
Required information [The following information applies to the questions displayed below.) Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 81,000 132,000 56,250...
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[The following information applies to the questions displayed below. Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below Beech Corporation Balance Sheet June 30 Assets इ96/०0० 139,000 70,200 228,000 Cash Accounts receivable Inventory Plant and equipment, net of depreciation $533 200 Total assets Liabilities and Stockholders Equity Accounts payable Common stock Retained earnings |৪9,000 333.000 i11/200...
Required information [The following information applies to the questions displayed below.] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 90,000 136,000 62,000...
[The following information applies to the questions displayed below) Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below. Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 90,000 136,000 62,000 210,000 $498,000...
Required information Schedules of Expected Cash Collections and Disbursements; Income Statement; Balance Sheet (LO8-2, LO8-4, LO8-9, LO8-10] [The following information applies to the questions displayed below.] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity...
Required information The following information applies to the questions displayed below.) Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Coomon stock Retained earnings Total liabilities and stockholders' equity $ 71,000 131.000 45.500...
Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below Cash Beech Corporation Balance Sheet June 30 Assets $ 90.000 Accounts receivable 136.000 Inventory 62,000 Plant and equipment, net of 210,000 depreciation Total assets $498,000 Liabilities and Stockholders' Equity Accounts payable $ 71,100 Common stock 327,000 Retained earnings 99,900 Total Ilabilities and $498,000 stockholders' equity Beech's managers have made...
Check my work Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: points Beech Corporation Balance Sheet June 30 Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders equity $ 84,000 144,000 63.750 223,000 $ 514,750 cBook $ 84,000 349.000...
The following information applies to the questions displayed below.) Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 Assets Cash Accounts recelvable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 75,000 140,000 66,500 227,000 $...