Clear photos,please help me
Requirements 1. Revise the schedule of budgeted cash receipts to include the increase in fourth quarter sales and the change in the timing of customer receipts 2. How will the changes in cash receipts affect the cash budget? Print Done 30% in the quarter of the sale 35% in quarter after the sale 33% two quarters after the sale 2 nevoitto Sale Budget For the Year Ended December 31, 2019 Second Third Quarter Quarter Quarter Fourth Quarter Total 750 Budgeted tablets to be sold Sales price per unit Total sales 450 450 202.500S 337,500 1.200 450 650 450 292,500 3,050 450 1,372,500 $ 540,000 5 $ Schule of Cash Receipts from Customers First Third Fourth Second Quarter Quarter Quarter Quarter Tot $ 292.500 $ 1 372 500 202.500 First Quarter 337 500 S Second Quarter 540.000 Third Quarter Fourth Quarter Total 30,000 60.750 Cash Receipts from Customers Accounts Receivable balance December 31, 2018 1st Gtr --Cash sales (30%) 1st Qt-Credit sales (709), 30% collected in ist 1st --Credit sales [70%), 70% collected in 2nd tr 2nd Otr-Cash sales (303 2nd or Credit sales 1705), 30% collected in 2nd 2nd on-Credit TOSSE 70% collected in 3rd or $ 99.225 101250 70.375 acha redit sates (705305 collected in Seo 67095 collected in that O cash sale th Credit Sales Bad in the o p t om uit tomars Accounts Receivable balance December 31, 2015: First Third Fourth Second Quarter Quarter Quarter Total 22,000 $ 133,275 20.933||$ 271,350 20,465 440.775 20,065 5 413.775 22.000 1.259,175 155, 275 292 283 461 240 433,840 1,281.175 Beginning cash balance Cash receipts Cash available Cash payments Capital expenditures Purchases of direct materials Direct labor Manufacturing overhead 10,000 58.232 14.000 17 835 10.000 181.688 37 200 20.155 236,080 39.200 20.355 229,808 29.200 19.355 20.000 705.808 119,500 77,700 Selling and administrative expenses Income taxes 61.775 2.500 65.825 2.500 450 71.900 2.500 1.140 64.475 2.500 263.975 10.000 1680 90 Interest expense 164 342 317 818 371,175 3-45,428 Total cash payments Ending cash balance before nancing 19.067) (20,000) 25.535) 20.000) 90065 (20.000) 88 412 (20.000 1.198.763 32 412 (20.000) (29.067) (45,535) 70065 68 412 62 412 Minimum cash balance desired Projected cash excess (de ciency) Financing Borrowing Principal repayments 30,000 46.000 _75.000 76.000 (6.000) 30.000 (70.000) (70.000) 20.065 5 16.000 45.000 20,465 $ Total effects of financing 20.933 $ 8412 Ending cash balance Specialized Learning Sales Budget For the Year Ended December 31, 2019 First Second Third Quarter Quarter Quarter Fourth Quarter Total 1200 Budgeted Tablets to be sold Sales price per un 900 450 3.300 450 450 337 500 540.000 405.000 5 1485.000 Total salon to indude the ho u s es and the change in the fining of cus ty Re s chedule of budgeted cash Mund your heart olar) Schle of Cash Reces from Customers The Fourth Qate The Fourth Fourth First Quarter Second Quarter Third Quarter Quarter Total Cash Receipts from Customers: Accounts Receivable balance, December 31, 2018 1st Qtr-Cash sales 1st Qtr-Credit sales collected in 1st qtr 1st Otr ---Credit sales collected in 2nd qtr. 1st Qtr --Credit sales collected in 3rd qtr 2nd Qur.-Cash sales 2nd Or-Credit sales collected in 2nd at 2nd Qtr --Credit sales collected in 3rd qtr. 2nd Or-Credit sales collected in the 3rd Qu Cash sales 3rd Q --Credit sales collected in 3rd qr 3rd Qtr - Credit sales collected in 4th qtr 4th Q-Cash sales 4th 0 --Credit sales collected in 4th qtr Total cash receipts from customers 0 Requirements 1. Revise the schedule of budgeted cash receipts to include the increase in fourth quarter sales and the change in the timing of customer receipts. 2. How will the changes in cash receipts affect the cash budget? Print Done * More Info 30% in the quarter of the sale 35% in quarter after the sale 33% two quarters after the sale 2% never collected Print Done 0 Reference Fourth Specialized Learning Sales Budget For the Year Ended December 31, 2019 First Second Third Quarter Quarter Quarter 450 750 1,200 $ 450 $ 450||$ 450 $ $ 202,500 $ 337,500 $ 540,000 $ Quarter Total Budgeted tablets to be sold 900 450 $ 3,300 450 Sales price per unit 405,000 $ 1,485,000 Total sales Print Done 0 Original Budgets Fourth Quarter Total Budgeted tablets to be sold Sales price per unit First Second Third Quarter Quarter Quarter 450 750 1,200 450 $ 450 $ 450 $ 202,500 $ 337,500 $ 540,000 $ 650 450 $ 292,500 $ 3,050 450 1,372,500 Total sales Schdule of Cash Receipts from Customers Total sales First Second Third Fourth Quarter Quarter Quarter Quarter Total 202,500 $ 337,500 $ 540,000 $ 292,500 $ 1,372,500 First Second Third Fourth Quarter Quarter Quarter Quarter Total $ 30,000 60,750 42,525 $ Cash Receipts from Customers: Accounts Receivable balance, December 31, 2018 1st Qtr.-Cash sales (30%) 1st Qtr.-Credit sales (70%), 30% collected in 1st qtr. 1st Qtr.-Credit sales (70%), 70% collected in 2nd qtr. 2nd Qtr.-Cash sales (30%) 2nd Qtr.-Credit sales (70%), 30% collected in 2nd qtr. 2nd Qtr.-Credit sales (70%), 70% collected in 3rd qtr. 3rd Qtr.-Cash sales (30%) 3rd Qtr.-Credit sales (70%), 30% collected in 3rd qtr. 3rd Qtr.-Credit sales (70%), 70% collected in 4th qtr. 4th Qtr.-Cash sales (30%) 4th Qtr.--Credit sales (70%), 30% collected in 4th qtr. 99,225 101,250 70,875 $ 165,375 162,000 113,400 $ 264,600 87.750 61,425 440,775 413,775 $ 1,259,175 Total cash receipts from customers $ 133,275 $ 271,350 $ 0 Original Budgets Sales price per unit 450 $ 337,500 $ 450 S 540,000 $ 450 S 450 292,500 $ 1,372,500 202,500 $ Total sales Schdule of Cash Receipts from Customers First Second Quarter Quarter 202,500 $ 337,500 First Second Quarter Quarter Third Fourth Quarter Quarter Total $ 540,000 $ 292,500 $ 1,372,500 Total sales Third Fourth Quarter Quarter Total $ 30,000 60,750 42,525 $ Cash Receipts from Customers: Accounts Receivable balance, December 31, 2018 1st Qtr.--Cash sales (30%) 1st Qtr.-Credit sales (70%), 30% collected in 1st qtr. 1st Qtr.-Credit sales (70%), 70% collected in 2nd qtr. 2nd Qtr.-Cash sales (30%) 2nd Qtr.-Credit sales (70%), 30% collected in 2nd qtr. 2nd Qtr.-Credit sales (70%), 70% collected in 3rd qtr. 3rd Qtr.-Cash sales (30%) 3rd Qtr.-Credit sales (70%), 30% collected in 3rd qtr. 3rd Qtr. ---Credit sales (70%), 70% collected in 4th qtr. 4th Qtr.-Cash sales (30%) 4th Qtr.-Credit sales (70%), 30% collected in 4th qtr. 99,225 101,250 70,875 165,375 162,000 113,400 $ 264,600 87,750 61,425 440,775 $ 413,775 $ 1,259,175 Total cash receipts from customers $ 133,275 $ 271,350 $ Accounts Receivable balance, December 31, 2019: 4th Qtr.---Credit sales (70%), 70% collected in 1st qtr of 2020 $ 143,325 Original Budgets Specialized Learning Cash Budget For the Year Ended December 31, 2019 First Second Third Quarter Quarter Quarter 22,000 $ 20,933 $ 20,465 $ 133,275 271,350 440,775 155,275 292,283 461,240 Total Fourth Quarter 20,065 $ 413,775 Beginning cash balance 22,000 1,259,175 Cash receipts Cash available 433,840 1,281,175 Cash payments: Capital expenditures Purchases of direct materials Direct labor Manufacturing overhead Selling and administrative expenses Income taxes 10,000 58,232 14,000 17,835 61,775 2,500 10,000 181,688 37,200 20,155 236,080 39,200 20,355 71,900 2,500 1,140 371,175 229,808 29,200 19,355 64,475 2,500 20,000 705,808 119,600 77,700 263,975 10,000 1,680 65,825 Interest expense 2,500 450 317,818 164,342 345,428 1,198,763 Total cash payments Ending cash balance before financing (9,067) (20,000) (25,535) (20,000) 90,065 (20,000) 88,412 (20,000) Minimum cash balance desired 82,412 (20,000) 62,412 (29,067) (45,535) 70,065 68,412 Projected cash excess (deciency) Financing: Borrowing 30,000 46,000 76,000 (76,000) Principal repayments (70,000) (70,000) (6,000) (6,000) Total effects of financing 30,000 20,933 $ 46,000 20,465 $ 20,065 $ 82,412 82,412 Ending cash balance Homework: HW-7 Save Score: 0 of 1 pt 1 of 3 (2 complete) HW Score: 32.1%, 0.96 of 3 pts SP22-2 (similar to) Question Help Suppose a change in the receipt of cash from sales on account is as follows: (Click the icon to view the revised receipt of cash information.) Specialized Learning had prepared the following sales budget, schedule of budgeted cash receipts, and cash budget for 2019: (Click the icon to view the original budgets.) Specialized Learning decided to revise its sales budget to show fourth quarter sales of 900 tablets due to the expectation of increased holiday sales. (Click the icon to view the revised sales budget.) Read the requirements Requirement 1. Revise the schedule of budgeted cash receipts to include the increase in fourth quarter sales and the change in the timing of customer receipts. (If a box is not used in the table, leave the box empty, do not enter a zero. Round your answers to the nearest dollar.) Schdule of Cash Receipts from Customers First Second Third Quarter Fourth Quarter Quarter Quarter Total Total sales First Second Quarter Third Quarter Fourth Quarter Quarter Total Cash Receipts from Customers: Accounts Receivable balance, December 31, 2018 1st Qtr-Cash sales 1st Qtr.---Credit sales collected in 1st qtr. 1st Qtr. ---Credit sales collected in 2nd qtr. 1st Qtr.---Credit sales collected in 3rd qtr. 2nd Qir. ---Cash sales 2nd Qtr.---Credit sales collected in 2nd qtr. 2nd Qir-Credit sales collected in 3rd qtr. 2nd Qtr.---Credit sales collected in 4th qtr. 3rd Qtr.-Cash sales 3rd Qtr.-Credit sales collected in 3rd qtr. 3rd Qtr.--Credit sales collected in 4th qtr. 4th Qtr.-Cash sales 4th Qtr.-Credit sales collected in 4th qtr. Total cash receipts from customers
