Question
Beechs managers have made the following additional assumptions and estimates: Beech Corporation Balance Sheet June 30 Assets Cash $ 81,000 Accounts receivable 132,000 Inventory 56,250
Beechs managers have made the following additional assumptions and estimates:
Beech Corporation Balance Sheet June 30 | |||||||||||||||
Assets | |||||||||||||||
Cash | $ 81,000 | ||||||||||||||
Accounts receivable | 132,000 | ||||||||||||||
Inventory | 56,250 | ||||||||||||||
Plant and equipment, net of depreciation | 214,000 | ||||||||||||||
Total assets | $ 483,250 | ||||||||||||||
Liabilities and Stockholders Equity | |||||||||||||||
Accounts payable | $ 75,000 | ||||||||||||||
Common stock | 346,000 | ||||||||||||||
Retained earnings | 62,250 | ||||||||||||||
Total liabilities and stockholders equity | $ 483,250 | ||||||||||||||
Beechs managers have made the following additional assumptions and estimates:
Prepare a schedule of expected cash collections for July, August, and September. Also compute total cash collections for the quarter ended September 30. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30.
Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30.
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