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Can someone please help me fill out the rest of my Cash Budget. I dont undertand how to find the remaining 'Beginning Cash Balances' and
Can someone please help me fill out the rest of my Cash Budget. I dont undertand how to find the remaining 'Beginning Cash Balances' and the Financing Parts of the problem.
Garden Sales, Inc., sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter to support peak sales of lawn care equipment, which occur during May. The following information has been assembled to assist in preparing a cash budget for the quarter a. Budgeted monthly absorption costing income statements for Apri-July are: May June July April 511.000 637,000 427,000 364,000 219,000 273,000 183,000 156,000 Sales $ 730,000 $ 910,000 $ 610,000 $ 520,000 Cost of goods sold Gross margin Selling and administrative expenses: Selling expense Administrative expense" 91.000 110,000 72,000 52,000 50.500 68,800 44,600 49,000 141,500 178,800 116,600 101,000 $ 77,500 $ 94,200 S 66,400 $ 55,000 Total selling and administrative expenses Net operating income Includes $33,000 of depreciation each month
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