Question

Please help fill out balance sheet

[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 belance 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 S 81000 132000 56.250 214,000 Total assets $ 483,250 Liabilies and Stockholders Equity Accounts payable Common stock Retained earnings S 75,000 346,000 62 250 $ 483.250 Total Sabilities and stockholders equity

Answer 1

Beech Corporation Schedule of Expected Cash Collections August September July 132000 87500 June July August September Total 162500 94500 Total 132000 250000 270000 91000 743000 175500 91000 266500 219500 257000 Purcahse Budget COGS Add:Ending Inventory Goods available for sale Less:Opening Stock Total Purchases July 187500 60750 248250 -56250 192000 August September Total 202500 195000 585000 58500 63000 63000 261000 258000 648000 -60750 -58500 -56250 200250 199500591750 Payments for merchandise June July 75000 76800 July August September Total August September Total 75000 115200 192000 80100 120150 200250 79800 79800 195300 199950547050 151800

Cash Budget For the Quarter ending September 30 Opening Bal Cash Collections Cash Available July 81000 219500 300500 August September 107700 128400 257000 266500 364700 394900 Total 81000 743000 824000 Disbursement: Merchandise Expenses Total Payments Excess / Deficency 151800 41000 192800 107700 195300 41000 236300 128400 199950547050 41000 123000 240950 670050 153950 153950 Statement of Income For the Quarter Ending September 30 Sales Cost of goods sold Gross margin Depreciation Expenses Net Income 780000 -585000 195000 - 15000 -123000 57000 Balance sheet As at September 30 Cash Accounts Receivable Inventory Plant & equipment Total Assets 153950 169000 63000 199000 584950 Liabilities Accounts Payable Common Stock' Retained Earnings Total Liabilities & stockholders Equity 119700 346000 119250 584950

1 Beech Corporation 3 Schedule of Expected Cash Collections July August September 132000 =250000*0.35 5 June 6 July 7 August 8 September 9 Total =250000*0.65 =270000*0.35 Total =SUM(B5:05) =SUM(B6:06) =SUM(B7:07) =SUM(B8:08) =SUM(E5:E8) =270000*0.65 =260000*0.35 =SUM(D5:08) =SUM(B5:38) =SUM(C5:08) 11 Purcahse Budget 13 COGS 14 Add:Ending Inventory 15 Goods available for sale 16 Less:Opening Stock 17 Total Purchases July =250000*0.75 =C13*0.3 =SUM(B13:314) -56250 =SUM(B15:16) August =270000*0.75 =D13*0.3 =SUM(C13:C14) --B14 =SUM(C15:C16) September =260000*0.75 =280000*0.75*0.3 SUM(D13:014) =-C14 SUM(D15:016) Total =SUM(B13:013) =D14 =SUM(E13:E14) =B16 =SUM(E15:E16) 18 19 Payments for merchandise 20 July August September 75000 =B17*0.4 21 June 22 July 23 August 24 September 25 Total =B17.0.6 =C17*0.4 Total =SUM(B21:D21) =SUM(B22:D22) =SUM(B23:D23) =SUM(B24:D24) =SUM(E21:E24) =C17*0.6 =D17.0.4 =SUM(D21:D24) =SUM(B21:B24) =SUM(C21:C24) 27 Cash Budget 28 For the Quarter ending September 30 29 30 Opening Bal 31 Cash Collections 32 Cash Available July 81000 =B9 =SUM(B30:B31) August =B38 =C9 =SUM(C30:c31) September =C38 D9 =SUM(D30:D31) Total =B30 =SUM(B31:031) =SUM(E30:E31) 33 34 Disbursement: 35 Merchandise 36 Expenses 37 Total Payments 38 Excess / Deficency 39 =B25 41000 =SUM(B35:B36) =B32-B37 =C25 41000 =SUM(C35:c36) =C32-C37 D25 41000 SUM(D35:D36) =D32-D37 =SUM(B35:D35) =SUM(B36:D36) SUM(E35:E36) =E32-E37

=250000+270000+260000 --E13 =SUM(B42:B43) =-5000*3 =-E36 =SUM(B44:B46) 40 Statement of Income 41 For the Quarter Ending September 30 42 Sales 43 Cost of goods sold 44 Gross margin 45 Depreciation 46 Expenses 47 Net Income 48 49 Balance sheet 50 As at September 30 51 Cash 52 Accounts Receivable 53 Inventory 54 Plant & equipment 55 Total Assets 56 57 Liabilities 58 Accounts Payable 59 Common Stock' 60 Retained Earnings 61 Total Liabilities & stockholders Equity =E38 =260000*0.65 =E14 =214000+B45 =SUM(B51:B54) =D17*0.6 346000 =62250+B47 =SUM(B58:360)