ABC Company makes steel tool cabinets for offices. They are in the process of preparing a Master Budget including the Operating budget, Cash Statement, Income Statement and Balance Sheet for 2020. The yearly budget is broken into quarters. The year end is 31st December 2020. Your group has been requested to compile a master budget for the fiscal year 2020.

Gazal Patel - X Comments Share AutoSum SEE Insert Delete Format 47 O Sort & Find & Filter Select Eating Ideas Sensitivity Clear Cel deas Sensitity P Q R S T U V W AutoSave C HO A CTS012 Project Studentxis Farel Scanch File Home Insert Page Layout Formulas Data Review View Help X Out Calibri 11 AA == Wrap Text I Pade' Copy tak BIU. A Format Painter S Merge Center - 0 $ -% 6 000 Conditional format as Cell 8 * Formatting Table Styles Clipboard Font Alignment Number 618 - X Box A B C D E F G H I J K L M N O 10 Package is to include the following budgets; 11 1. Sales budget for each quarter 12 2. Pruduction budget for each quarter 13 3. Purchasing Budget for each quarter 14 4. Direct labour budget for each quarter 15 5. Manufacturing overhead budget for each quarter 16 6. Selling and Administration budget 17 7. Worksheets fur Cullections and Disbursements 18 8. Budgeted Income Statement 19 9, CVP Income Statement 20 10. Budgcted Cash Statement 21 11. Burgeted Balance Sheet 22 Additional details: 23 . Seles price per filing cabinet is 24 There are 800 tool cabinets in finished goods inventory at the end of 2019 with a 25 value of $ 360,000. At the end of each quarter, ABC Company requires to have 26 units in finished goods inventory. 27 Cach cabinet uses C q. Il. ol steel during the manufacturing process. The cost ol 29 steel for 2020 is estimated to be $ D per sq. ft. 29. ABC Company currently has E sq. ft. of steel in the beginning inventory. At 30 the end of each quarter, ABC Company wants to have F sq. ft. of ending 31 inventory 32 . Cach cabinet requires G machine hours and direct labour hestu produce 33 . Direct Labour costs 5 per direct labour hour. 34. ABC Company allocates manufacturing overhead costs based on the estimated machine 35 hours. Estimated manufacturing overhead cost for 2020 are S I and are all variable. 36. For each quarter, it is estimated that of sales will be cash and 37 % will be credit sales of the credit sales, B0% pay in the quarter of the sale and 20% pay in the 39 following quarter. Credit sales from 04 2019 were $1,300,000 Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing (... 2 1 1 + 100% - AEA Type here to search 3/21/2020 Gazal Patel - X Comments Share 1 Peste' X Out Copy AutoSum 1 Conditional format as Cell Formatting Table Styles Styles SD Insert Delete Format 47 O Sort & Find & Filter Filter Select Ideas Sensitivity Clear Cel sabing deas Sensitity AutoSave C HO A CTS012 Project Studentxis Farel Scanch File Home Insert Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text tak BIU. Format Painter A S Merge Center - 0 $ -% 6 000 * 8 Clipboard Fort Alignment Number 618 - X fx A B C D E F G H I J K L 46 ABC Company 47 48 Additional details continued 49. ABC Cumpany will pay $60,000 in dividends in 24 50. Currently, the cash balance in the bank is $15,000. ABC Company wants to maintain a 51 minimum cash balance of $10,000 in the bank for each quarter. 52 Budgcted sales volumes are: M N O P Q R S T U V W _ P Q3 54 . Selling and Administration expenses for the budgeted yeal areas Tullows; 55 Variable Cost: Delivery costs are based on S S per sales unit. Commissions are based on % of sales valuc. 1800 77000 9000 4700 35000 Fixed Costs: Accounting & professional services Administrative & Sales Salaries Advertising Computer casts Depreciation office Supplies Printing Insurance Property taxes Rent Utilities Total Fixed Costs 2300 1400 1200 500 20000 3000 1554001 71 72 73. ARC. Company will purchase a new machine on 1/1/2020 worth $700,00 and will make two equal 74 nens The first neil will be in 01 ani senin 02 Arthrine wa Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing (... L - 100% GIU - AEA 1:48 MM Type here to search 3/21/2020 Gazal Patel - X Comments Share AutoSum I Conditional format as Cell Formatting Table Styles SEE Insert Delete Format 47 O Sort & Find & Filter Filter Select Ideas Sensitivity Clear AutoSave C HO A CTS012 Project Studentxis Farel Scanch File Home Insert Page Layout Formulas Data Review View Help X Out Calibri 11 AA == Wrap Text Peste' Copy tak BIU. Format Painter A S Merge Center - 0 $ -% 6 000 * 8 Clipboard Font Alignment Number 618 - X fx A B C D E F G H I J K L 55 Variable Cost: Delivery costs are based on $ S per sales unit. Commissions are based on T Xol sales value. Cel Eating deas Sensitity M N O P Q R S T U V W 56 59 1800 77000 9000 4200 Fixed Costs: Accounting & professional services Administrative & Sales Salaries Advertising Computer costs Depreciation Office Supplies Printing Insurance Property taxes Rent Utilities Total Fixed Costs 35000 2300 1400 1200 500 20000 3000 155400 71 73. ABC Company will purchase a new machine on 1/1/2020 worth $700,00 and will make two equal 74 payments. The first payment will be in Q1 and the second in Q3. Assume the machine was 75 purchased at the beginning of the year. 76 Taxation is 30% on taxable income and paid at the end of Q 4 each year. 77. Balance sheet information as al 31st December 2019 is as follows; 78 PPE $100,000 Accumulated Depreciation $100,000 79 Common Stock $280,000 Retained Earnings $145,000 30 For Cost of goods sold (COGS); 81 Add total costs of production + Beginning Finished goods - Ending Finished goods Inventory. 82. Interest uls 9000 on luans is paid in total at the end of the year and is a fixed cost. 83 Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing (... 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Merge Center - $ -% 0 6 000 * 8 Font Number AutoSum" AY O SEE Insert Delete Format I Conditional format as Cell Formatting Table Styles Peste' Ideas Sensitivity Clear Format Painter a Clipboard Sort & Filter Filta Find & Select Alignment Cels Eating deas Sensitity A B C D E F G H I J K L M N O P Q R S T Production Budget 1 2 Quarter 3 4 Quarter 3 End Finished Goods Inventory: 28 Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing (... 2 1 - + 100% 1 1:53 PM Type here to search Gazal Patel AutoSave C HO File Home Insert X Out Peste' Copy Format Painter a Clipboard A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text BIUR O A . Merge Center - $ -% 0 6 000 * 8 Font Number - X Share Comments 4 Ideas Sensitivity Insert Delete Format AutoSum 27 O rill Sort & Find & Clear Filter Select Conditional format as Cell Formatting Table Styles Styles Alignment Cel sabing das Senstvity AL A B C D E F G H I J K L M N O P R S Direct Materials Budget 3 Quarter 4 Quarter 13 14 17 End balance of Direct materials 31st december 2020: 28 Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing (... ) B 1 - 1 + 1:53 PM 3/21/2020 100% 5 Type here to search A A Gazal Patel AutoSave C File Home HO Insert A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text BIU. 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A S Merge Center - $ -% 0 Font X Out Copy AutoSum EX Insert Delete Format 47 Sort & Filter Peste' Share 42 Ideas 0 Find & Select 6 000 * 8 Format Painter tak Clipboard Conditional format as Cell Formatting Table Styles Sensitivity Clear Alignment Cel Editing deas Sensitity A B C D E F G H I J K L M N O P Q R S T U V W Selling and Administrative Expense Budget Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 28 ... Direct materials Budget Direct Labour budget Manufacturing Overhead Budget Selling & Admin. budget Ince... I GIU - - 100% L 1:53 PM Type here to search Gazal Patel - AutoSave C File Home HO Insert X Comments Share X Out Copy A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text BIUR O A . 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Manufacturing Overhead Budget Selling & Admin. budget Income Statement CVP Income Statement Cash Buc ... 1 B 1 - + 100% 1 1:53 PM Type here to search Gazal Patel - X Comments Share AutoSave C HO File Home Insert X Out Peste' Copy Format Painter Cipboard A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text BLU- A 2 Merge Center - $ -% 0 Font Number AutoSum 47 4 Ideas Insert Delete Format 0.00 -8 * Sensitivity Conditional Format as Cell Formatting Table Styles Styles Clear Sort & Filter Find & Select Alignment Cel sabing deas Sensitity A B C D E F G H I J K L M N O P Q R S T A CASH BUDGET for the year ending 31st December 2017 10 11 27 28 ... Selling & Admin. budget Income Statement CVP Income Statement Cash Budget Worksheets Balance Sheet ... B 1 - 1 + 100% 1:53 PM Type here to search Scanch Gazal Patel - X Comments Share AutoSave C HO File Home Insert X Out Peste' Copy Format painter Clipboard A CTS012 Project Studentxis Farel Page Layout Formulas Data Review View Help Calibri 11 A A = = = 99 Wrap Text BIV A Merge Center Font Alignment 4 AutoSum rill Clear 47 Sort & Filter S 8 Conditional Formatas Cell Formatting Table Styles Insert Delete format Ideas % Number Sensitivity Find & Select Cells sabing das Senstvity A B C D G I J K L M N O P R E F Receipts by Quarter Qtr 2 Qtr 3 H 2021 Otr 1 Cash Sales Credit Sales Qtr 1 Qtr 4 10 13 Cash Sales 14 Credit Sales 15 Credit sale in the quarter of the sale 16 Credit sale in the following quarter 18 Schedule of expected payments for Direct materials 19 2021 Payments by Quarter Qtr 2 Qtr 3 Purchases Qtr 1 Qtr 4 Qtr 1 28 Purchases paid in cash in the same quarter 29 Purchases paid in the following quarter ... Selling & Admin. budget Income Statement CVP Income Statement Cash Budget Worksheets Balance Sheet ... dy B 1 - + 1 1:53 PM 100% 5 Type here to search Gazal Patel - AutoSave C File Home HO Insert X Comments Share X Out Copy A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 A A = = = 99 Wrap Text BIUR O A . Merge Center - $ -% 0 Font Alignment Ceneral AutoSum 47 4 Peste' Ideas Sensitivity Insert Delete Format 0.00 * 8 Format Painter a Clipboard Conditional Format as Cell Formatting Table Styles Clear Sort & Filter Filter Find & Select Cels Eating deas Sensitity A B C D E F G H I J K L M N O P Q R S 1 Balance Sheet at 31st December 2020 5 Assets 6 17 Liabilities and Shareholders Equity 28 Statement of Retained Earnings as at 31st December 2020 ... Income Statement CVP Income Statement Cash Budget Worksheets Balance Sheet dy B 1 - + 1 1:53 PM 100% 5 Type here to search Gazal Patel - X Comments Share AutoSave C HO File Home Insert X Out Peste' Copy Format Painter Clipboard A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text BLU- A 2 Merge Center - $ -% 0 Font Alignment Ceneral AutoSum 47 4 Ideas Insert Delete Format 0.00 -8 * Sensitivity Conditional Format as Cell Formatting Table Styles Styles Clear Sort & Filter Eating Find & Select Cells deas Sensitity A B 28 Statement of Retained Earnings as at 31st December 2020 C D E F G H I J K L M N O P Q R S A 33 36 Recreated from information provided 37 Balance Sheet at 31st December 2019 38 Assets 39 Current Assets 40 50 Liabilities and Shareholders Equity 53 54 ... Income Statement CVP Income Statement Cash Budget Worksheets Balance Sheet E FI - L - 1:53 PM 3/27/2020 100% 5 Type here to search o el 9 E R Gazal Patel - X Comments Share AutoSum SEE Insert Delete Format 47 O Sort & Find & Filter Select Eating Ideas Sensitivity Clear Cel deas Sensitity P Q R S T U V W AutoSave C HO A CTS012 Project Studentxis Farel Scanch File Home Insert Page Layout Formulas Data Review View Help X Out Calibri 11 AA == Wrap Text I Pade' Copy tak BIU. A Format Painter S Merge Center - 0 $ -% 6 000 Conditional format as Cell 8 * Formatting Table Styles Clipboard Font Alignment Number 618 - X Box A B C D E F G H I J K L M N O 10 Package is to include the following budgets; 11 1. Sales budget for each quarter 12 2. Pruduction budget for each quarter 13 3. Purchasing Budget for each quarter 14 4. Direct labour budget for each quarter 15 5. Manufacturing overhead budget for each quarter 16 6. Selling and Administration budget 17 7. Worksheets fur Cullections and Disbursements 18 8. Budgeted Income Statement 19 9, CVP Income Statement 20 10. Budgcted Cash Statement 21 11. Burgeted Balance Sheet 22 Additional details: 23 . Seles price per filing cabinet is 24 There are 800 tool cabinets in finished goods inventory at the end of 2019 with a 25 value of $ 360,000. At the end of each quarter, ABC Company requires to have 26 units in finished goods inventory. 27 Cach cabinet uses C q. Il. ol steel during the manufacturing process. The cost ol 29 steel for 2020 is estimated to be $ D per sq. ft. 29. ABC Company currently has E sq. ft. of steel in the beginning inventory. At 30 the end of each quarter, ABC Company wants to have F sq. ft. of ending 31 inventory 32 . Cach cabinet requires G machine hours and direct labour hestu produce 33 . Direct Labour costs 5 per direct labour hour. 34. ABC Company allocates manufacturing overhead costs based on the estimated machine 35 hours. Estimated manufacturing overhead cost for 2020 are S I and are all variable. 36. For each quarter, it is estimated that of sales will be cash and 37 % will be credit sales of the credit sales, B0% pay in the quarter of the sale and 20% pay in the 39 following quarter. Credit sales from 04 2019 were $1,300,000 Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing (... 2 1 1 + 100% - AEA Type here to search 3/21/2020 Gazal Patel - X Comments Share 1 Peste' X Out Copy AutoSum 1 Conditional format as Cell Formatting Table Styles Styles SD Insert Delete Format 47 O Sort & Find & Filter Filter Select Ideas Sensitivity Clear Cel sabing deas Sensitity AutoSave C HO A CTS012 Project Studentxis Farel Scanch File Home Insert Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text tak BIU. Format Painter A S Merge Center - 0 $ -% 6 000 * 8 Clipboard Fort Alignment Number 618 - X fx A B C D E F G H I J K L 46 ABC Company 47 48 Additional details continued 49. ABC Cumpany will pay $60,000 in dividends in 24 50. Currently, the cash balance in the bank is $15,000. ABC Company wants to maintain a 51 minimum cash balance of $10,000 in the bank for each quarter. 52 Budgcted sales volumes are: M N O P Q R S T U V W _ P Q3 54 . Selling and Administration expenses for the budgeted yeal areas Tullows; 55 Variable Cost: Delivery costs are based on S S per sales unit. Commissions are based on % of sales valuc. 1800 77000 9000 4700 35000 Fixed Costs: Accounting & professional services Administrative & Sales Salaries Advertising Computer casts Depreciation office Supplies Printing Insurance Property taxes Rent Utilities Total Fixed Costs 2300 1400 1200 500 20000 3000 1554001 71 72 73. ARC. Company will purchase a new machine on 1/1/2020 worth $700,00 and will make two equal 74 nens The first neil will be in 01 ani senin 02 Arthrine wa Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing (... L - 100% GIU - AEA 1:48 MM Type here to search 3/21/2020 Gazal Patel - X Comments Share AutoSum I Conditional format as Cell Formatting Table Styles SEE Insert Delete Format 47 O Sort & Find & Filter Filter Select Ideas Sensitivity Clear AutoSave C HO A CTS012 Project Studentxis Farel Scanch File Home Insert Page Layout Formulas Data Review View Help X Out Calibri 11 AA == Wrap Text Peste' Copy tak BIU. Format Painter A S Merge Center - 0 $ -% 6 000 * 8 Clipboard Font Alignment Number 618 - X fx A B C D E F G H I J K L 55 Variable Cost: Delivery costs are based on $ S per sales unit. Commissions are based on T Xol sales value. Cel Eating deas Sensitity M N O P Q R S T U V W 56 59 1800 77000 9000 4200 Fixed Costs: Accounting & professional services Administrative & Sales Salaries Advertising Computer costs Depreciation Office Supplies Printing Insurance Property taxes Rent Utilities Total Fixed Costs 35000 2300 1400 1200 500 20000 3000 155400 71 73. ABC Company will purchase a new machine on 1/1/2020 worth $700,00 and will make two equal 74 payments. The first payment will be in Q1 and the second in Q3. Assume the machine was 75 purchased at the beginning of the year. 76 Taxation is 30% on taxable income and paid at the end of Q 4 each year. 77. Balance sheet information as al 31st December 2019 is as follows; 78 PPE $100,000 Accumulated Depreciation $100,000 79 Common Stock $280,000 Retained Earnings $145,000 30 For Cost of goods sold (COGS); 81 Add total costs of production + Beginning Finished goods - Ending Finished goods Inventory. 82. Interest uls 9000 on luans is paid in total at the end of the year and is a fixed cost. 83 Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing (... B 1 - + 1 1:52 PM 100% 5 Type here to search earch Gazal Patel - AutoSave C File Home HO Insert X Comments Share 42 AutoSum 47 0 X Out Copy Ceneral EX Insert Delete Format Peste' A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text BIU. A S Merge Center - $ -% 0 6 000 Conditional format as Cell 8 * Formatting Table Styles Font Alignment Number one Styles x B C D E F G H I J K L M Ideas Sensitivity Clear Sort & Filter Find & Select Cels Eating deas Format Painter tak Cipboard : x A Sensitity A1 N O P Q R S T U LE 2 Sales Budget Quarter 1 3 4 Quarter Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing (... ) 2 1 - + 100% 1 1:53 PM Type here to search Gazal Patel - AutoSave C File Home HO Insert X Comments Share X Out Copy A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text BIUR O A . 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Merge Center - $ -% 0 6 000 * 8 Font Number - X Share Comments 4 Ideas Sensitivity Insert Delete Format AutoSum 27 O rill Sort & Find & Clear Filter Select Conditional format as Cell Formatting Table Styles Styles Alignment Cel sabing das Senstvity AL A B C D E F G H I J K L M N O P R S Direct Materials Budget 3 Quarter 4 Quarter 13 14 17 End balance of Direct materials 31st december 2020: 28 Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing (... ) B 1 - 1 + 1:53 PM 3/21/2020 100% 5 Type here to search A A Gazal Patel AutoSave C File Home HO Insert A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text BIU. A S Merge Center - $ $ -% 0 , Font Number - X Share Comments CY Ideas Sensitivity X Out Copy Peste' AutoSum4 7 rill Sort & Clear Filter 0 Find & Select Insert Delete Format Format Painter tak Clipboard 60 00 * 8 Conditional Formatas Cell Formatting Table Styles Styles Alignment Cel sabing deas Sensitity A B C D E F G H I J K L M N O P R S Direct Labour Budget 2 Quarter D 1 3 4 Year 28 Instructions Sales Budget Production Budget Direct materials Budget Direct Labour budget Manufacturing (... 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A S Merge Center - $ -% 0 Font X Out Copy AutoSum EX Insert Delete Format 47 Sort & Filter Peste' Share 42 Ideas 0 Find & Select 6 000 * 8 Format Painter tak Clipboard Conditional format as Cell Formatting Table Styles Sensitivity Clear Alignment Cel Editing deas Sensitity A B C D E F G H I J K L M N O P Q R S T U V W Selling and Administrative Expense Budget Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 28 ... Direct materials Budget Direct Labour budget Manufacturing Overhead Budget Selling & Admin. budget Ince... I GIU - - 100% L 1:53 PM Type here to search Gazal Patel - AutoSave C File Home HO Insert X Comments Share X Out Copy A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text BIUR O A . 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Merge Center - $ -% 0 6 000 8 Font Number AutoSum Peste' 47 O Sort & Find & Filter Select Insert Delete Format Ideas Sensitivity Format Painter a Clipboard Conditional format as Cell Formatting Table Styles Styles Clear Alignment Cels sabing das Sonst uity A B C D E F G H I J K L M N O P Q R 29 Alternatively: 31 Cost of Goods Sold 35 52 53 ... Direct Labour budget Manufacturing Overhead Budget Selling & Admin budget Income Statement CVP Incor... dy 2 1 - + 100% 1 1:53 PM Type here to search Scanch Gazal Patel - X Comments Share AutoSave C HO File Home Insert X Out Peste' Copy Format Painter Cipboard Ceneral AutoSum rill 47 4 A CTS012 Project Studentxis Farel Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text BI O A Merge Center Font for A B C $ Insert Delete Format Ideas Sort & Filter % 98 * Numbers Conditional Format as Cell Formatting Table Styles Styles Sensitivity Clear Find & Select Alignment Cel song das Senstvity D E F G H I J K L M N O P 0 CVP Income Statement for year ended 31st December 2017 16 17 28 . .. Manufacturing Overhead Budget Selling & Admin. budget Income Statement CVP Income Statement Cash Buc ... 1 B 1 - + 100% 1 1:53 PM Type here to search Gazal Patel - X Comments Share AutoSave C HO File Home Insert X Out Peste' Copy Format Painter Cipboard A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text BLU- A 2 Merge Center - $ -% 0 Font Number AutoSum 47 4 Ideas Insert Delete Format 0.00 -8 * Sensitivity Conditional Format as Cell Formatting Table Styles Styles Clear Sort & Filter Find & Select Alignment Cel sabing deas Sensitity A B C D E F G H I J K L M N O P Q R S T A CASH BUDGET for the year ending 31st December 2017 10 11 27 28 ... Selling & Admin. budget Income Statement CVP Income Statement Cash Budget Worksheets Balance Sheet ... B 1 - 1 + 100% 1:53 PM Type here to search Scanch Gazal Patel - X Comments Share AutoSave C HO File Home Insert X Out Peste' Copy Format painter Clipboard A CTS012 Project Studentxis Farel Page Layout Formulas Data Review View Help Calibri 11 A A = = = 99 Wrap Text BIV A Merge Center Font Alignment 4 AutoSum rill Clear 47 Sort & Filter S 8 Conditional Formatas Cell Formatting Table Styles Insert Delete format Ideas % Number Sensitivity Find & Select Cells sabing das Senstvity A B C D G I J K L M N O P R E F Receipts by Quarter Qtr 2 Qtr 3 H 2021 Otr 1 Cash Sales Credit Sales Qtr 1 Qtr 4 10 13 Cash Sales 14 Credit Sales 15 Credit sale in the quarter of the sale 16 Credit sale in the following quarter 18 Schedule of expected payments for Direct materials 19 2021 Payments by Quarter Qtr 2 Qtr 3 Purchases Qtr 1 Qtr 4 Qtr 1 28 Purchases paid in cash in the same quarter 29 Purchases paid in the following quarter ... Selling & Admin. budget Income Statement CVP Income Statement Cash Budget Worksheets Balance Sheet ... dy B 1 - + 1 1:53 PM 100% 5 Type here to search Gazal Patel - AutoSave C File Home HO Insert X Comments Share X Out Copy A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 A A = = = 99 Wrap Text BIUR O A . Merge Center - $ -% 0 Font Alignment Ceneral AutoSum 47 4 Peste' Ideas Sensitivity Insert Delete Format 0.00 * 8 Format Painter a Clipboard Conditional Format as Cell Formatting Table Styles Clear Sort & Filter Filter Find & Select Cels Eating deas Sensitity A B C D E F G H I J K L M N O P Q R S 1 Balance Sheet at 31st December 2020 5 Assets 6 17 Liabilities and Shareholders Equity 28 Statement of Retained Earnings as at 31st December 2020 ... Income Statement CVP Income Statement Cash Budget Worksheets Balance Sheet dy B 1 - + 1 1:53 PM 100% 5 Type here to search Gazal Patel - X Comments Share AutoSave C HO File Home Insert X Out Peste' Copy Format Painter Clipboard A CTS012 Project Studentxis Farel Scanch Page Layout Formulas Data Review View Help Calibri 11 AA == Wrap Text BLU- A 2 Merge Center - $ -% 0 Font Alignment Ceneral AutoSum 47 4 Ideas Insert Delete Format 0.00 -8 * Sensitivity Conditional Format as Cell Formatting Table Styles Styles Clear Sort & Filter Eating Find & Select Cells deas Sensitity A B 28 Statement of Retained Earnings as at 31st December 2020 C D E F G H I J K L M N O P Q R S A 33 36 Recreated from information provided 37 Balance Sheet at 31st December 2019 38 Assets 39 Current Assets 40 50 Liabilities and Shareholders Equity 53 54 ... Income Statement CVP Income Statement Cash Budget Worksheets Balance Sheet E FI - L - 1:53 PM 3/27/2020 100% 5 Type here to search o el 9 E R