dgeting eBook Show Me How Cash Budget The controll er of Dash Shoes Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information March April May $146,000 $172,000 $232,000 Sales Manufacturing costs Selling and administrative expenses 42,000 46,000 51,000 Capital expenditures The company expects to sell about 15% of its merchandise for cash, of sales on account, 65% are expeted to be collected in the month following the sale and the 61,000 74,000 84,000 56,000 osts. The annual insurance premium is paid in July, and the annual property taxes are paid in November. Of the remainder of the manufacturing costs, 85% are expected to be paid in the month in which they are incurred and the balance in the following month. ) Current assets as of March 1 include cash of S55,000, marketable securities of $79,000, and accounts receivable of $168,950 $128.000 fem February sa es ar 40 aso from January sales). Sales on account for January and February were S 117,000 and $128,000, respectively. Current liabilities as of March 1 include a $73,000, 12%, 90. day note payable due May 20 and $6,000 of accounts payable incurred in February for manufacturing costs. All selling and administrative expenses are paid in cash in the period they are incurred. It is expected that s4,400 in dividends will be received in March. An estimated income tax payment of $21,000 will be made in April. Dash Shoes regular quarterly dividend of $6,000 is expected to be declared in April and paid in May. Management desires to maintain a minimum cash balance of $43,000 Required: y cash budget and supporting schedules for March, April, and May. Input all amounts as positive values except overall cash decrease and deficiency which should be indicated with a minus sign. Assume 360 days per year for interest calculations. h Shoes Inc. Cash Budget For the Three Months Ending May March 48y Estimated cash recepts from Cash sales 5 21900 25.800 34.800 V 2 items Check My Wark Previous 87.5% All work saved