Balance Sheet as at 31 June, 2022 Assets Cash 45,015 Accounts receivable 113,650 Inventory - Direct Materials Inventory 54,275 Inventory - Finished Goods 79,150 Land 750,000 Property, Plant & Equipment 160,000 Less Accumulated Depreciation 8,000 Total Assets $ 1,194,090 Liabilities and Stockholders' equity Accounts payable 42,500 Bank Loan 525,000 Share Capital 102,765 Retained earnings 523,825 Total Liabilities and Stockholders' equity 1,194,090 July August September October November December January February March April May June July August Sales Information Budgeted Sales (units) Bonsai Tree 80 80 80 80 80 80 400 400 400 400 400 400 400 400 Santa on the Dunny 200 200 200 200 600 800 200 200 200 200 200 200 200 200 Animals of Australia Map 1,000 1,000 1,200 1,200 1,200 1,300 1,300 1,400 1,400 1,400 1,400 1,400 1,400 1,400 Budgeted selling price Bonsai Tree 24.99 Santa on the Dunny 12.99 Animals of Australia Map 39.99 Ending inventory of finished goods is to be 50% of the next month's Sales requirements 50% Cash Collections Cash Sales 25% Credit Sales 75% Collected in month of sale 70% Collected the following month 30%Monthly Sales Revenue and Cash Collection Budget Sales Budget July August September October November December January February March April May June TOTAL July August Bonsai Tree Budgeted sales volume (units) 80 80 80 80 80 80 400 400 400 400 400 400 2880 400 400 Budgeted selling price 24.99 $ 24.99 $ 24.99 $ 24.99 $ 24.99 $ 24.99 $ 24.99 $ 24.99 $ 24.99 $ 24.99 $ 24.99 $ 24.99 299.88 $ 24.99 $ 24.99 Total sales 1,999 $ 1,999 S 1,999 $ 1,999 $ 1,999 S 1,999 $ 9,996 $ 9.996 $ 9.996 S 9,996 $ 9.996 S 9.996 71971.2 Santa on the Dunny Budgeted sales volume (units) 200 200 200 200 600 800 200 200 200 200 200 200 3400 200 200 Budgeted selling price 12.99 $ 12.99 $ 12.99 $ 12.99 $ 12.99 $ 12.99 $ 12.99 $ 12.99 $ 12.99 $ 12.99 $ 12.99 $ 12.99 155.88 Total sales 2,598 $ 2,598 S 2,598 $ 2,598 $ 7,794 $ 10,392 $ 2,598 $ 2,598 $ 2,598 $ 2,598 $ 2,598 $ 2.598 44166 Animals of Australia Map Budgeted sales volume (units) 1,000 1000 1200 1200 1200 1300 1300 1400 1400 1400 1400 1400 15,200 1400 1400 Budgeted selling price 39.99 $ 39.99 S 39.99 S 39.99 $ 39.99 $ 39.99 $ 39.99 $ 39.99 $ 39.99 $ 39.99 S 39.99 $ 39.99 480 Total sales 39,990 $ 39,990 $ 47,988 $ 47,988 $ 47,988 $ 51,987 $ 51,987 $ 55,986 $ 55,986 $ 55,986 $ 55,986 $ 55,986 607,848 Total sales 44,587 $ 44,587 $ 52,585 $ 52,585 $ 57,781 $ 64,378 $ 64,581 $ 68,580 $ 68,580 $ 68,580 $ 68,580 $ 68,580 723.985 Cash Collections July August September October November December January February March April May June TOTAL July August Opening Accounts Receivable $ 113,650 Current Month Credit Sales 75% $ 33,440 $ 33,440 $ 39,439 $ 39,439 $ 43,336 $ 48,284 $ 48,436 $ 51,435 $ 51,435 $ 51,435 $ 51,435 $ 51,435 $ 542,989 Total Accounts Receivable Less Current Month Collections Op Accounts Receivable Current Month Sales 70% $ 23,408 S 23,408 $ 27,607 $ 27,607 $ 30,335 $ 33,799 S 33,905 $ 36,005 S 36,005 $ 36,005 $ 36,005 S 36,005 $ 380,092 Ending Accounts Receivable 30% $ 10,032 $ 10,032 $ 11,832 $ 11,832 $ 13,001 $ 14,485 $ 14,531 $ 15,431 $ 15,431 $ 15,431 $ 15,431 $ 147,466 Accounts Receivable collections Cash collected from Outlet Sales 25% $ 11,147 $ 11,147 $ 13,146 $ 13,146 $ 14,445 $ 16,095 $ 16,145 $ 17,145 $ 17,145 $ 17,145 $ 17,145 $ 17,145 $ 180,996 Total Cash Collections 34,555 $ 44,587 $ 50,786 $ 52,585 $ 56,612 $ 62,894 $ 64,535 $ 67,680 $ 68,580 $ 68,580 $ 68,580 $ 68,580 $ 708,555
