Kayak Co. budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. January February March Cash Receipts $518,000 404,000 464,000 Cash payments $465,900 351,900 531,000 According to a credit agreement with its bank, Kayak requires a minimum cash balance...
Aztec Company sells its product for $160 per unit. Its actual and budgeted sales follow. Units Dollars April (actual) 5,000 $ 800,000 May (actual) 2,000 320,000 June (budgeted) 5,500 880,000 July (budgeted) 4,500 879,000 August (budgeted) 4,000 640,000 All sales are on credit. Recent experience shows that 26% of credit sales is collected in the month of the sale, 44%...
Cash Budget The controller of Mercury Shoes Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: June July August Sales $160,000 $185,000 $200,000 Manufacturing costs 66,000 82,000 105,000 Selling and administrative expenses 40,000 46,000 51,000 Capital expenditures 120,000 The company expects to sell about 10% of its...
May June Quarter Earrings Unlimited Cash Budget For the Three Months Ending June 30 April Beginning cash balance Add collections from customers Total cash available Less cash disbursements: Merchandise purchases Advertising Rent Salaries Commissions Utilities Equipment purchases Dividends paid Total cash disbursements Excess (deficiency) of cash available over disbursements Financing: Borrowings Repayments Interest Total financing Ending cash balance Earrings Unlimited...
Aztec Company sells its product for $160 per unit. Its actual and budgeted sales follow. Units Dollars April (actual) 5,000 $ 800,000 May (actual) 2,000 320,000 June (budgeted) 5,500 880,000 July (budgeted) 4,500 879,000 August (budgeted) 4,000 640,000 All sales are on credit. Recent experience shows that 26% of credit sales is collected in the month of the sale, 44%...
Aztec Company sells its product for $170 per unit. Its actual and budgeted sales follow. Units Dollars April (actual) 4,500 $ 765,000 May (actual) 2,000 340,000 June (budgeted) 6,000 1,020,000 July (budgeted) 5,000 1,019,000 August (budgeted) 3,600 612,000 All sales are on credit. Recent experience shows that 24% of credit sales is collected in the month of the sale, 46%...
28 2) Sche ACC 321 Group Project (chapter 6) for a Merchandising ompany 3) 1 Retained Earnings ....*** * June ....... July Nordic Company, a merchandising company, pre- pares its master budgme un quarterly basis. The following data have been assembled to assist in preparation of the master budget for the second quarter. 2. As of March 31 (the end...
AP-10B LO 6 a Inc. provides you with the following budgeted information: May $510,000 June $450,000 280,000 July $550,000 Sales 150,000 250,000 Manufacturing Costs 120,000 400,000 Lal expenditures (machinery and buildings) 210,000 100,000 70,000 General and administration costs (excluding depreciation) 183 3096 will be cold month. The remainder month in which they Expectations Cash sales represent 10% of total sales....
Peabody, Inc., sells fireworks. The company's marketing director developed the following cost of goods sold budget for April, May, June, and July. April Budgeted cost of goods $70.000 sold May $80,000 June $90,000 July $96,000 Peabody had a beginning inventory balance of $2,600 on April 1 and a beginning balance in accounts payable of $15,200. The company desires to maintain...
Cash Budget The controller of Sonoma Housewares Inc. Instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: May June July Sales $123,000 $153,000 $204,000 Manufacturing costs 52,000 66,000 73,000 Selling and administrative expenses 36,000 41,000 45,000 Capital expenditures 49,000 The company expects to sell about 12% of its...