Beech Coperation is a merchandising compeny tat as prepaing a master budget for the third quarter of the caiendar year. The company's bulance sheet as of bune 30th is shown bolowc. Acectis managers have made the folewing additional assumptons and estmuter: 1. Eitimated soies foi July, August, Septembec end October wal be 5210,000,$230,000,$220,000 and $240,000, respectively 2. Al sales are on creot and al credit saves are colected. Fach month's dedt sales are collected 35% in the month of sale and 65% in the mereh folowing the sale. At of the accounts recivable at June 30 will be collected in July. 3. Esch monthys ending invertory must equal 30% of the cost of next moctt's sales. The cost of goody sold is 60s of sales. The company pays for 40s of its merchandise purchases in tse morti of the purchase and the remaining 60s in the month following the purchase. All of the accours porable at Juse 30 wat be paid in July 4. Montery selling and administratwe expenses are alwoys 560.000. Each month 55,000 of this total amount is deperciation expense and the remaining $55,000 telates to expenses that are paid in the month they are incurred. 5. The compaty does not plan to bociow money or poy or declave dividendi during the quarter ended September 30. The compaty does not plan to issoe any comman stock or repurchase ts own stock during the quarter ended September 30 Aequited: 1. Prepare a schedule of ewpected cosh collections for hy. Augunt and Septenoex 2-a. Prepare a merchandie purchases budges tor July Augutt and Septembet Also compute totei merchandise purchases for the quarter ended September 30 2.b. Prepare a schedule of expected cash datursements for merch 3. Prepare an income statement thet computes net opersting incon ther the cuerter ended September 30 4. Prepere a belance sheet as of September 30 . (8) Answer is not complete. Complete this question by entering your answers in the tabs below. Prepore a schedule of expected cash collections for July, August, and September. Beech's mankeers have made the following addional assumptions and estimates: 1. Estmated usles for Jaly, Augiat, Septembec, and October will be $210.000,5230,000,5220.000 and 5240.000. terpectivety. 2. Af sales are on ciedz and at credit sales are cotected. Each months credt sales are collected 35% in the month of sele and 65% in the month follswing the saie. Aar of the accoonts tecelvable at June 30 wit be collected in July. 3. Each moeth's ending invensory must equal 30s of the cost of next month's sales. The cost of goods sold is 60 if of soles. The compsny pays for 408 of its merchandise purchases in the month of the parchase and the remoining 60x in the month following the purchase. All of the sccounts peyeble at June 30 will be paid in July 4. Monthy seiling and administrative \&xpenses are always $60.000. Each asonth 55.000 of this total ahount is depreciatios exponse and the remaining $55,000 relates to expenses that are paid in the month they are incurred 5. The company does not plan to boersw money of poy or deciare dividends during the quarter ended September 30 . The company does not plan to issue amy contamon ssock or iepurchase its own stock during the qusiter ended. Segtember 30 . Required: 1. Prepare a schedule of expected cash colections for Jyly, August and September, 2.a. Prepsie a merchondise purchases budget for July. Avgurt and September. Also compule total merchendse. purchases for the quater ended September 30 2b. Prepare a schedule of evpected emh dibursements for menchandife purchases for July, August, and September. 3. Prepare an income stmement that computes net operatog income for the quarter ended Seotember 30. 4. Prepere a betiance sheet as of September 30 . X Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a meruhandise purchases budget for July, August, and September, Also compute total merchantise purchases for the quarter ended Septernber 30 . calendar year, The comparn's balatice sheet as of hine 30 th is showp belew Buechis tinhegers hwve made the following additional astumptons and estimates: 1. Estimated saies for July, Avgust, Septembec, and October wal be $210,000,$230,000,$220000,000$240,000. reteecthely. 2. All seles a'e on credt and all creda sales are cetecied. Fech reonth's credt sales ace collected 35s, in the month of ule and 65 wh in the month folowing the sele. All of the accounts receivable at June 30 wil be collected in Juby 3. Foch month's ending imentory must equal 30% of the cost of next month's sties. The cost of goods sold is 60% of sales. The cempeny pays for 40% of lis metchendise puicheses in the morth of the purchase and the remairing 60 in in the month foliowing the puechase, Ai of the sccounts payable at June 30 will ber paid in July. 4. Monithly sellivg and administative oxpenses are ahweys 560.000. Each monkh $5.000 of this total amount is degrecistioc expense and the remaining 555,000 relates to empentes that are paid in the moeth they are incuared. 5. The compary does not pian to botrow money of pey or declare didends duting the quarter ended September 30 . The company does not plan to issue sny consmon stock or tepurchuse its own stock during the quarter ended September 30. Recyiredt 1. Prepare a thedule of expected cast coftctions for 3hy. Arguat, and September, 2a. Piepere a merchandise purchases budget for Jily, Avghat, and September, Aso compute total merchandise purchases foe tho quarter ended 5epternber 30 . 2-b. Prepare a schedule of expected cash dibursements toe merchandwe purchases for July, Auguse, and 5 eptember. 3. Prepsere an income statement thet computes net operating income for the quarter ended September 30 4. Prepare a balance sheet as of Sepeember 30 (X) Answer is not complete. Complete this question by entering your answers In the tabs below. Prepare a scheodle of expected cash cisbursements for merchandise purchases for Jull. August, and September; [The following information appies to the cuedions dispiejed beiow] Beech Corporation is a merchanditing compony that is preparing s masset busget for the third quarter of the calender yeat. The compery's belance sheet as of June 30 is is shown below. Decti's mensoers heve mede the following sdditional astwmptions and estientes 1. Evtimated sales foe July, Augurt, Septembet, and 0ctober wit be 5210,000,5730.000,5220000,4nd5240000. tespectively? 2. Al seles are on credit and all creditssles are collected. Esch month's credit sales are colected 35il in the month of sole and 65% in the month following the sale. All of the necounts teceivabie et duse 30 will be collected in July 3. Each monthy ending inventory must cqual 30s of the cost of nett month's cales. The coct of poods roid is 60 of sales. The company pays for 40% of its merchandise purchases in the monten of the purchase and the remaining 695 in the month following the purchase. Al of the accounes paysble at dune 30 will be paid in Juy. 4. Monthly selieng and adminitrative ersemes ere alwey 360.000. Each month 5.000 of this tosal amount is deprecistion expense and the remaining 555000 relates to excenses that are paid in the month they are incurred 5. The company does not pitan to bortow mosey or poy ar dectare didenes aring the quarker ended Segte tiber 30. The compeny does not plan to issue any common stock or repurchsse as own stock duing the qusiter ended September 30 . Aequired: 1. Prepare a cchedule of expected cash cotections for 20 y, Augure, ane Sepeenter: 2a. Prepare a merchendise purchases budget for July. Augut and Septerbec Also compute tatal merchandre purchases for the querter ended September 30 . 3. Prepare an income statement that computes nit operpting income for the quartar ended Stotember 30. 4. Prepare a balance theet as of 5eplember 30 . (x) Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare an income statement that computes net operating income for the quarter ended September 30 . Beechis managen heve mede the foliowing addional assumptions and estinates 1. Estinated-saies for July. August, September and October win be $210,000,$230.000,$220.000, and $240.000. respectively. 2. All sales are on crodit and all credit sales are collected. Each mentis credt saies are collected 35* in the month of sole and 65% in the month following the sale. Al of the eccounts recevoble at June 30 will be colfected in July. 3. Each month's ending imentony must equal 30s, of the cost of next month's sales. The cost of goods soid is 60% of sales. The company peys for 40x of it merchandise purchases in the morth of the purchase and the remaining 60s in the momth following the purchate. All of the accounts patyable at dune 30 will be paid in July. 4. Monthly seling and ndmieriatrotive expenses ase always $60.000. Eoch month 55.000 of thid total amout is depreciation expense and the remaining $55.000 relates to expenses that are paid in the month they are incurred. 5. The company does not plen to borrow mocey or poy or declere dididents during the quarter ended 5eptember 30 . The company does not plan to ispue any common stock or segurchase las own stock duting the quarter ended September Jo. Required: 1. Prepare a schedule of expected caph collections for July, Augute, and Septetibec 2a. Prepare a merchandise purchases budget for dily. Augutt and Septembec Aho compite tatai merchandise purchases for the quarter ended September 30 . 2-0. Prepere a schedule of expected cash distoursements for nerchandse purchases far July. August, and Segteenber, 3. Prepare an income statement that compuses net operating income for the quastar aded Segtember 30. 4. Prepare a baisnce theet as of September 30 . (X) Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a balance sheet as of September 30