Cash Budget with Supporting Cash Collections And Disbursements Schedules

All answers must be entered as a formula. Click OK to begin. OK 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 ? -d X 01() . d . . ; Cash Budget with Supporting Cash Collections and Disbursements Schedules , Excel Sign In HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Calb E Cells Editing B 1 u . o-A' Alignment Number Conditional Format as dell Paste Clipboard A1 Formatting" Table Styles Styles | v | | | S&P Enterprises needs a cash budget for March. The following information is X-/ 1 S&P Enterprises needs a cash budget for March. The following information is available 3 Data 4 Actual January and February and expected March sales: 5 Cash sales 6 Sales on account 7 Total Sales Januory February March $ 1,600 3,750 $ 5,100 26.600 33750 45.100 9 Accounts Recelvable Collections: 10 Month of sale 11 Month following sale 12 Second month following sale 15% 60% 22% 3% 14 $10,500 $23,500 15 Accounts payable for inventory purchases, March 1 balance 16 Budgeted inventory purchases in March 17 Inventory payments: 18 Month of purchase 19 Month following purchase 20 $12,500 $3,200 21 Total budgeted selling & administrative expenses in March 22 Budgeted selling & administrative depreciation In March 23 24 other budnated rach dichasrcamants in.Marrh | Budget Data | Schedules and Cash Budget ! . . 1-4-; cash Budget with Supporting Cash Collections and Disbursements Schedules-boel ? X - FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW MEW Sign In Calitri Paste B 1 y . . .. Alignment Number Conditional Format as Cell Cells Editing Formatting" TableStyles Styles Font S&P Enterprises needs a cash budget for March. The following information is A1 22 Budgeted selling & administrative depreciation in March 23 24 Other budgeted cash disbursements in March 25 Equipment purchases 26 Dividends to be paid 27 28 Minimum cash balance to be maintained 29 March 1 cash balance $3,200 $14,000 $2,000 $10,000 $11,500 $o so 0 March 1 outstanding borrowings 31 March 1 interest due 32 company has a line of credit available to bolster the cash balance as needed. 34 S5 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. 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 41 any interest will not be paid untl the following month. 43 t. Budget Data Schedules and Cash Budget .. Attempt(s) 1 2 March cash collections Expected cash collections: $ 5,100 3 March collections on account: 4 January sales 5 February sales 6 March sales 7 Total cash collections 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance 11 March purchases 12 Total cash payments 13 14 15 16 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available 22 Less disbursements: 23 Payments to suppliers 241 S & P Enterprises Cash Budget For the Month of March Selline and administrative exnenses Budget Data Schedules and Cash Budget 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses 25 Equipment purchases 26 Dividends paid 27 Total disbursements 28 Preliminary cash balance 29 Financing: 30 Additional loan 1 Loan repayments 32 Interest 33 Total financing 4 Cash balance, March 31 35 36 37 38 39 40 . Budget Data Schedules and Cash Budget