Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
All answers must be enteted as a formula. please enter formula than give the amount 1. Prepare a sales budget, including a schedule of expected
All answers must be enteted as a formula.please enter formula than give the amount
1. Prepare a sales budget, including a schedule of expected cash collections, 2. Prepare a direct materials budget, including a schedule of expected cash disbursements for purchases of materials 3. Prepare a cash budget Clipboard Font Styles AI x a S&P Enterprises needs a cash budget for March. The following information is D E A B 1 S&P Enterprises needs a cash budget for March. The following information is available. a 2 January February March $ 1,600 $ 3,750 $ 5.100 25,000 30,000 40,000 $ 26,600 $ 33.750 S 45.100 3 Data 4 Actual January and February and expected March sales: 5 Cash sales 6 Sales on account 7 Total Sales 8 9 Accounts Receivable Collections: 10 Month of sale 11 Month following sale 12 Second month following sale 13 Uncollectible 14 15 Accounts payable for inventory purchases, March 1 balance 16 Budgeted inventory purchases in March 17 Inventory payments: 18 Month of purchase 19 Month following purchase 15% 60% 22% 3% $10,500 $23.500 60% 40% 20 21 Total budgeted selling & administrative expenses in March 22 Budgeted selling & administrative depreciation in March $12,500 $3,200 23 24 Other hudeeted each dichureements in March Budget Data Schedules and Cash Budget READY 21 Total budgeted selling & administrative expenses in Mare $3,200 22 Budgeted selling & administrative depreciation in March 23 24 Other budgeted cash disbursements in March 25 Equipment purchases $14.000 26 Dividends to be paid $2.000 27 28 Minimum cash balance to be maintained $10,000 29 March 1 cash balance $11,500 30 March 1 outstanding borrowings $0 31 March 1 interest due SO 32 33 The company has a line of credit available to bolster the cash balance as needed. 34 35 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules, 36 37 Click the Schedules and Cash Budget tab to prepare the following: 38 1. Schedule of expected cash collections for March 39 2. Schedule of expected cash disbursements for inventory purchases for March. 40 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that 41 any interest will not be paid until the following month. 42 a 43 14 45 Budget Data Schedules and Cash Budget 168 B c D 4 1 Expected cash collections: 2 March cash collections 3 March collections on account: January sales 5 February sales 6 March sales 7 Total cash collections 8 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance 11 March purchases 12 Total cash payments 13 14 S&P Enterprises 15 Cash Budget 16 For the Month of March 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative exnenses B C D E 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses 25 Equipment purchases 26 Dividends paid 27 Total disbursements 28 Preliminary cash balance 29 Financing 30 Additional loan 31 Loan repayments 32 Interest 33 Total financing 34 Cash balance, March 31 35 36 37 38 39 40 Budget Data Schedules and Cash Budget READY Attamatta 4 * + . E El + 100%
please enter formula than give the amount
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/66918ce0bc516_81666918ce0627c7.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/66918ce166f4b_81666918ce0e9668.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/66918ce2021c7_81766918ce198744.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/66918ce29bc03_81866918ce239b25.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/66918ce3471dd_81866918ce2db309.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started