| Assignments: X L Homework: A X _ Question 8 - I X Lu Grades for Tes X H Inbox | Hands X H Postings | Har X Home - Class x Shannon Aku x G Sign in - Goos X mis> Home | myLU x [ HTTP Status 4 X L Grades for Tex + X C A & https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%252Fmheproducts%252FImsCloseWindow.htm#/.. _ _ A\\ @ to 8 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. 20 points : Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? 6 - 5X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 - A" A' % Boo Paste BIU - - A . Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Clipboard Font Style Print A1 X v fx S&P Enterprises needs a cash budget for March. The following information is In B C D E References 1 S & P Enterprises needs a cash budget for March. The following information is available. IN 3 Data January February March Actual January and February and expected March sales: Cash sales $ 1,600 $ 3,750 $ 5,100 6 Sales on account 25,000 30,000 40,000 7 Total Sales $ 26.600 $ 33.750 $ 45.100 00 9 Accounts Receivable Collections: 10 Month of sale 15% 11 Month following sale 60% 12 Second month following sale 22% 13 Uncollectible 3% 14 15 Accounts payable for inventory purchases, March 1 balance $10,500 16 Budgeted inventory purchases in March $23,500 17 Inventory payments: 18 Month of purchase 60% 19 Month following purchase 40% 20 21 Total budgeted selling & administrative expenses in March $12,500 22 Budgeted selling & administrative depreciation in March $3,200 23 4 Other budgetal rach dichurcoments in March Mc Graw | Assignments: X L Homework: A X _ Question 8 - 1 x Lu Grades for Tes X H Inbox | Hands X H Postings | Har X | Home - Class x |Shannon Aku x |G Sign in - Goo X | my Home | myLU x | HTTP Status 4 X L Grades for Te: x + X C n & https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%252Fmheproducts%252FImsCloseWindow.htm#/. _ _ A @ to Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? 6 - X 8 FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 - A" A % Paste 20 BIU- - DA . Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles points Clipboard Font Styles A1 vix v fx S&P Enterprises needs a cash budget for March. The following information is B E Book 22 Budgeted selling & administrative depreciation in March $3,200 23 24 Other budgeted cash disbursements in March Print 25 Equipment purchases $14,000 26 Dividends to be paid $2,000 27 References 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 any interest will not be paid until the following month. 42 43 44 45 ... Budget Data Schedules and Cash Budget ... . READY 100% Attempt(s) Hint Show Me Mc Graw Homework: Analysis and Excel Simulation Assignment i Saved Help Save & Exit Submit 8 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. 20 points : Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? 6 - 5X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 - A" A % H Boo Paste BIU - - A . Alignment Number Conditional Format as Cell Cells Editing Formatting * Table Styles Clipboard Font Style Print C30 X v fx A B C D E References 1 Expected cash collections: March cash collections 5,100 3 March collections on account: January sales 5,500 February sales 18,000 March sales 6,000 7 Total cash collections $ 34,600 8 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance $ 10,500 11 March purchases 14,100 12 Total cash payments $ 24,600 13 14 S & P Enterprises 15 Cash Budget 16 For the Month of March 17 18 Cash balance, March 1 $ 11,500 19 Add cash receipts: 20 Collections from customers 34,600 21 Total cash available 46,100 22 Less disbursements: 23 Payments to suppliers $ 24,600 24 Selling and administrative expenses 9.300 Mc Graw Homework: Analysis and Excel Simulation Assignment i Saved Help Save & Exit Submit Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? 6 - X 8 FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 - A" A % Paste BIU- - DA . Alignment Number Conditional Format as Cell Cells Editing 20 Formatting Table Styles points Clipboard Font Styles C30 vi X V fx B C D E Boo 16 For the Month of March 17 18 Cash balance, March 1 $ 11,500 Print 19 Add cash receipts: 20 Collections from customers 34,600 21 Total cash available 46,100 References 22 Less disbursements: 23 Payments to suppliers $ 24,600 24 Selling and administrative expenses 9,300 25 Equipment purchases 14,000 26 Dividends paid 2,000 27 Total disbursements 49,900 28 Preliminary cash balance (3,800) 29 Financing: Additional loan 31 Loan repayments 32 Interest 33 Total financing 34 Cash balance, March 31 35 36 37 38 39 1 Budget Data Schedules and Cash Budget ... + READY " -- 100% Attempt(s) 3/5 Hin Show Me Mc Graw