es Required Information [The following information applies to the questions displayed below.] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below. Assets Cash Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Beech Corporation Balance Sheet June 30 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July, August, September, and October will be $330.000, $350,000, $340,000, and $360,000, respectively. 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% in the month following the sale. All of the accounts receivable at June 30 will be collected in July. 3. Each month's ending inventory must equal 30% of the cost of next month's sales. The cost of goods sold is 60% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. All of the accounts payable at June 30 will be paid in July. 4. Monthly selling and administrative expenses are always $42,000. Each month $6.000 of this total amount is depreciation expense and the remaining $36.000 relates to expenses that are paid in the month they are incurred. 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Required: 1. Prepare a schedule of expected cash collections for July, August, and September. 2-a. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. Complete this question by entering your answers in the tabs below. Req 1 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. 3. Prepare an income statement that computes net operating income for the quarter ended September 30. 4. Prepare a balance sheet as of September 30. Req 2A Req 2B Req 3 $ 94,000 145,000 59,408 222,008 $ 520,400 Req 4 $ 83,000 331,000 106,408 $ 520,408 Prepare a schedule of expected cash collections for July, August, and September. Schedule of Expected Cash Collections Month Quarter

Required intormation The following infomtasion apples to the questions disployed below\} Beech Corperation is a merchandsing compary that is prepaing a master budget for the third quarter of the colender year. The campanys balance sheet of of June 30 th is shown beiow Beechis manbgers have made the fobewing odd tonat aswmptions and eutmates: 1 Evumbted soies foe July. Auguat, September and October wet be $330,000,5350,900,$340,000 and $360,000, respect.ely 2. Ali sales are en credir and ail ciedr caies are colected. Each montri credt sales are colected 358 in the ponth of sale and 65 s in the moneh folowing the sale, Al of the accounts recelvbble at June 30 wi be colected in July 3. Each menth i ending inventory muct equal 30W of the cost of next mopth's sales. The cost of goods sold is 60s af saies. the coingary pays for 40s of it menchandise porchases in the month of the purchase and the remaining 60s in the monch following the purclase Af of the accoums payable at June 30 wil te pald in Jul. 4. Monthy seuing and administsotve expenses are awoys 542000 Each mocth 56000 of this tots emoumt is depreciat on expense ond the remaining $6,000 ie ates to expentes that be paid in the manty they are havred does not pisn to issue ary common stock of repurthale is owb afock duing the quarer ended September 30 Hequiredi. fuder ended Sergtember 30 . 4. Prepare a palance sher as of Septemter 30 Cithiplete this auestian by entering yeur answers in the tabs felese. Peasiet Beech's marnagers have made the following add tional ascumptions and estimates: 1. Estimated sales for July, August, September, and October will be $330.000,5350,000,5340,000, and 5360,000, respectively. 2 All sales are on credit and all credit sales are coliected Each month's credit seles are colected 35 s in the imonth of sale and 65 is in the month following the sale. All of the accounts receivable at June 30 will be collected in July. 3. Each month's ending inventory must equal 30% of the cost of next month's sales. The cost of goods sold is 60 of of sales, The company pays for 40% of its merchandise purchases in the month of the purchase and the refraining 603 in the month foliowing the purchase. All of the accounts payable at June 30 will be paid in July. 4. Monthly seling and administretive expenses are aways 542.000 . Each month 56.000 of this total armount is depreciation expense and the remaining $36,000 relates to expenses that are paid in the month they are incurred. 5. The compary does not plan to borrow money of pay or declare dividends during the quarter ended Seatember 30 . The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30 . Reeulred: 1. Prepare a schedule of expected cash collections for July, August, and September. 2. Pred: 2-h. Prepare a merchandise purchases budget for July. Aupust, and September Also compute totas merchandise purchases for the quarter ended September 30 . 24. Prepare a scheduie of expected cash disbussements for merchandise purchases for July, August, and September. 3. Prepare an income statement that computes net operating income for the quarter ended September 30 . 4 Prepare a balance sheet ins of September 30 . Complete this question by entering your answers in the fabs below. Prepare a merchandise purchases budget for July. Aagust, and Septembec Alio cempute total merchandise purchanes for the quarter ended Eeptember 20. Required intormation The following infomtasion apples to the questions disployed below\} Beech Corperation is a merchandsing compary that is prepaing a master budget for the third quarter of the colender year. The campanys balance sheet of of June 30 th is shown beiow Beechis manbgers have made the fobewing odd tonat aswmptions and eutmates: 1 Evumbted soies foe July. Auguat, September and October wet be $330,000,5350,900,$340,000 and $360,000, respect.ely 2. Ali sales are en credir and ail ciedr caies are colected. Each montri credt sales are colected 358 in the ponth of sale and 65 s in the moneh folowing the sale, Al of the accounts recelvbble at June 30 wi be colected in July 3. Each menth i ending inventory muct equal 30W of the cost of next mopth's sales. The cost of goods sold is 60s af saies. the coingary pays for 40s of it menchandise porchases in the month of the purchase and the remaining 60s in the monch following the purclase Af of the accoums payable at June 30 wil te pald in Jul. 4. Monthy seuing and administsotve expenses are awoys 542000 Each mocth 56000 of this tots emoumt is depreciat on expense ond the remaining $6,000 ie ates to expentes that be paid in the manty they are havred does not pisn to issue ary common stock of repurthale is owb afock duing the quarer ended September 30 Hequiredi. fuder ended Sergtember 30 . 4. Prepare a palance sher as of Septemter 30 Cithiplete this auestian by entering yeur answers in the tabs felese. Peasiet Beech's marnagers have made the following add tional ascumptions and estimates: 1. Estimated sales for July, August, September, and October will be $330.000,5350,000,5340,000, and 5360,000, respectively. 2 All sales are on credit and all credit sales are coliected Each month's credit seles are colected 35 s in the imonth of sale and 65 is in the month following the sale. All of the accounts receivable at June 30 will be collected in July. 3. Each month's ending inventory must equal 30% of the cost of next month's sales. The cost of goods sold is 60 of of sales, The company pays for 40% of its merchandise purchases in the month of the purchase and the refraining 603 in the month foliowing the purchase. All of the accounts payable at June 30 will be paid in July. 4. Monthly seling and administretive expenses are aways 542.000 . Each month 56.000 of this total armount is depreciation expense and the remaining $36,000 relates to expenses that are paid in the month they are incurred. 5. The compary does not plan to borrow money of pay or declare dividends during the quarter ended Seatember 30 . The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30 . Reeulred: 1. Prepare a schedule of expected cash collections for July, August, and September. 2. Pred: 2-h. Prepare a merchandise purchases budget for July. Aupust, and September Also compute totas merchandise purchases for the quarter ended September 30 . 24. Prepare a scheduie of expected cash disbussements for merchandise purchases for July, August, and September. 3. Prepare an income statement that computes net operating income for the quarter ended September 30 . 4 Prepare a balance sheet ins of September 30 . Complete this question by entering your answers in the fabs below. Prepare a merchandise purchases budget for July. Aagust, and Septembec Alio cempute total merchandise purchanes for the quarter ended Eeptember 20