Ch08 Lab5.xls [Compatibility Mode] Insert Page Layout Formulas Data Review View Wrap Text Copy ||| | |t | Merge & Center, (+ 96 , | 00 4% | Conditional Format Cell Formatting as Table Styles Paste Insert Delete For : X Given Data P08-24: Given Data P08-24: 1 UNIVAX, INC. 5 Budgeted Sales and Merchandise Purchases: Merchandise Purchases Sales 9 Year1 10 Fourth quarter actual 11 Year 2: 2 First quarter estimated 400,000 $ 260,000 13 Second quarter estimated 500,000 $ 310,000 14 Third quarter estimated 600,000 $ 370,000 15 Fourth quarter estimated $ 480,000 240,000 $ 300,000$ 180,000 17 Additional information 18 Percentage of sales collected in same quarter 19 Percentage of sales collected in quarter following sales 20 Percentage of sales deemed uncollectible 21 Percentage of merchandise purchases paid in same quarter 22 Percentage of merchandise purchases pain in following quarter 23 Budgeted quarterly operating expenses for Year 2 24 plus percentage of sales 25 Amount of depreciation budgeted each quarter 26 Dividends to be paid each quarter 27 Cash purchase of land in second quarter 28 Cash purchase of land in third quarter 29 Cash account balance at end of Year 1 30 Minimum cash balance required 1 Bank loan borrowing increments 32 Maximum loan balance allowed 33 Interest rate per quarter on bank loans 4 Current outstanding loan balance 35 $90,000 1296 $ 20,000 $10,000 $80,000 $48,500 $ 20,000 $18,000 $10,000 $ 100,000 3.0% 37 38 P08-24 C08-29 Given C08-29+ Q- Search Sheet + Share Home Insert Page Layout Formulas Data Review View Cut Copy AutoSum Fill Clear A-A Wrap Text Conditional Format Cell Formatting as Table Styles Insert Delete Format Sort & D1 Problem 08-24 UNIVAX, INC. 7 1a. Schedule of expected cash collections Year 2 Quartor r1-Fourth quarter salea 2 Year 2-First quater sales 3 Yoar 2 Second quartor salos 14 Year 2Third quarter sales: 5 Year 2 -Fourth quarter sales: 6 Total cash tolections 19 1b. Schedule of expectod cash disbursements for merchandise purchases for Year 2 Year 2 Quarter r1 Fourth quarter purchases: 23 24 Year 2-First quarter purthases 25 Year 2-Secand quarder purchases 26 Year2 - Third quarter puchases 27 Year 2 Fourth quarter purchases: 28 Total cash disburso ments 31 2. Budgeted selling and administrative expenses for Year 2 Year 2 Quarter 35 Budgeted sales 6 Variable expense rate 37 Vaiable expenses 38 Fxod expensos 39 Total expenses 40 Less depreciation 41 Cash disbursements 4 3. Cash budget for Year 2 48 Cash balance, beginning 49 Add colections from sales S0 Total cash avalable P08-24 Given P08-24 CO8-29 Given C08-29+ + 100% a- Search Sheet Share ^ Insert Page Layout Formulas Data Review View 2 AutoSum 2 A-A Wrap Text Copy Fill Conditional Format Cell Formatting as Table Styles Insert Delete Format Sort & Format Clear 9 1b. Schedule of expectod cash disbursements for merchandise purchases for Year 2 Year 2 Quarter Third 23 Year 1-Fourth quarter purchasers: 24 Year 2 -First quarner purchases 25 Year 2-Secand quader putchases 26 Year 2 Third quarter purchases: 27 Year 2- Fourth quarter purchases: 28 Total cash disbursements 1 2. Budgebed selling and administrative expenses for Year 2 Year 2 Quartor 35 Budgeted sales 38 Fived expenses 9 Total expenses 40 Less depreciation 1 Cash disbusuments 44 3. Cash budget for Year 2 Year 2 Quarter Year 48 Cash balance, beginning 49 Add colections fsom sales 50 Total cash avaiable 1 Loss dsbursomenta: 3 Operating expenses 54 Dividends 5 Land 56 Total disbursoments 57 Excess (deficlency) of receipts 58 over disbursements 9 Fnanang 0 Bomowings Repayments 62 Interest 63 Total financing 64 Cash balanco, ending PO8-24 P08-24 Given C08-29 Given C08-29 + 100%
