1. 2. Bret's Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year. Here is the information about the company's upcoming cash receipts and cash disbursements: Click the icon to view the information.) Requirements Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payment for purchases, and (c) budgeted cash payments for operating expenses. Show totals for each month and local for January and February combined Prepare a combined cash budget. I no financing activity takes place, what is the budgeted cash balance on February 289 Requirement 1a. Prepare a schedule of budgeted cash collections for January and February. Show totais for each month and totals for January and February combined. Brett's Restaurant Supply Cash Collections Budget For the Months Ended January 31 and February 28 January February Total Cash sales Collection on this To cash collections b. Prepare a schedule of budgeted cash payments for purchases for January and February Show letals for each month and was forary and February.combined Bro's Restaurant Supply Cash Payments for Material Purchases Budget For the Month Ended Jarry 1 and February 28 Emery number in the edin fields and then continue to the next question 2. ou non and locals ornary and Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance on February 28? b. Prepare a schedule of budgeted cash payments for purchases for January and February. Show totals for each month and totals for January and February combined. Brett's Restaurant Supply Cash Payments for Material Purchases Budget For the Months Ended January 31 and February 28 January February Total 25% of current month DM purchases 75% of last month's DM purchases To cash payments o. Prepare a schedule of budgeted cash payments for operating expenses for January and February Show totale for each month and total for suruary and Forway combined a box la not used in the we box emply do not enter a zero. Round will to the nearest dollar) Brett Restaurant Supply Cash Payments for Operating Expenses Budget For the Months Ended January 31 and February 28 Enter any number in the ed fields and then continue to the next question Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance on February 28? WUR, TO W OU. TWO WONG Brett Restaurant Supply Cash Payments for Operating Expenses Budget For the Months Ended January 31 and February 28 January February Total Variable cash operating expenses: Sales commissions: December Sales commissions: January Sales commissions: February Total variable cash operating expenses Fixed cash operating expenses Sales salaries: December Sales salaries: January Sales salaries: February Enter any number in the edit fields and then continue to the next question (Click the icon to view the Requirements 1. Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c February combined 2. Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance Sales commissions: February Total variable cash operating expenses Fixed cash operating expenses: Sales salaries: December Sales salaries: January Sales salaries: February Rent expense Tax expense Total fixed cash operating expenses Total cash payments for operating expenses Requirement 2. Prepare a combined cash budget for January and February, If no financing activity takes place, what Brett's Restaurant Supply Combined Cash Budget Enter any number in the edit fields and then continue to the next question. esc BO 52 F3 FA 56 @ # $ % 2 3 4 5 6 Q W E R . Y tab A S F G ans lort Requirement 2. Prepare a combined cash budget for January and February. If no financing activity takes place, what is the budgeted cash balance on February 28? Brett's Restaurant Supply Combined Cash Budget For the Months Ended January 31 and February 28 January February 2 months Beginning cash balance Plus: Cash collections from customers Total cash available Less cash payments: Direct materials purchases Operating expenses Total cash payments Ending cash balance Enter any number in the edit fields and then continue to the next question gets for the first two months of the uncomina vear Here is the information about the company's uncoming cash receinte * More Info ille and et fo Res ined ded a. Sales are 60% cash and 40% credit. Credit sales are collected 10% in the month of sale and the remainder in the month after sale. Actual sales in December were $52,000. Schedules of budgeted sales for the two months of the upcoming year are as follows: Budgeted Sales Revenue January $62,000 February $72,000 b. Actual purchases of direct materials in December were $25,500. The company's purchases of direct materials in January are budgeted to be $20,000 and $27,500 in February. All purchases are paid 25% in the month of purchase and 75% the following month C. Salaries and sales commissions are also paid half in the month earned and half the next month. Actual salaries were $7,000 in December. Budgeted salaries in January are $8,000 and February budgeted salaries are $9,500. Sales commissions each month are 8% of that month's sales. d. Rent expense is $3,100 per month e. Depreciation is $2,700 per month f. Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be $13,500 9. The cash balance at the end of the prior year was $25,000 MER Print Done d thn ntrur DIA 80 F5 & % 5 00 3 9 0 6 7 4 E R 0 Y T U