explain thoroughly with formulas

please explain very thoroughly with formulas

totaied 5140,000 . and Mitis sees litaled 5300000 totm 591000 entertory at Maich 31 is 570000 agsumie that intereat in not compounded The corngony world as far as is a able. repay the loon plus accumulated inherest ar the end of the qcaintor Q lathd costing $28000 wil be purchased for cash in May h. The cash balance at March 3 tis $42000, the company must maintain a cash batance of at least $40,000 as the end of each month 1. The company has an agreement with a local bank that allows the company to boirow in increments of 5t,000 ot the beyinning of eoch imonth, up to a totat loan balance of 5200000 . The iaterest rate on these losns is tim per month and for simplisty we will assumit that interest is not compounded. The company would, as far as it is able, repay the loan glus accumulated interest at the end of the quafter Required: 1. Prepare a schedule of espected cash coliections for Apni, May and June, and for the quarter in totat 2. Prepare the following for merchandise inventory. A merchandise puitchases budget for Apri May, and Wune. b. A sehedule of expected cash disbursements for merchanidise purchases for Apri, May, and June. and for the quarter in total 3. Prepare a cash budget for April, May, and Jane as welf as in total for the quartec. Complete this question by ebtering voie answers in the tabs bulow. Prwpare a ncheduie of mopected cast collectians for Agrit, My. and dunie, and for the goarter in total. The compary has an agreement with a local bank that allows the company to botrow in increments of st,ogo at the beginnha of cuch month, op to a total loan balance of $200000 The interest late on inese loans is therem per month and for atimploity we win asscrfe that ingerest is not compounded. The company would, as far as it is able, regay the loan plus accumulated onterest at the encos of the quarter Required: 1 Prepare a schedule of expected cash collections for April. May, and June, and for the quarter in total 2. Piepare the foliowing for merchandise inventory 6. A merchoridise puretiases budget for April. May. anid June. b. A schedule of expected cash disbursements for merchandise purchoses for Apnl, May, and June, and for the quarter in total. 3. Prepare a cash budget for Aprit, May. and June as well as in total for the quarter Complete this question by entering your answers in the tabs below. P Prepare the following for merchandise inventory, a merchandine purchase- buidgec for Apre, May, and June- Required: 1. Prepsre a schedule of expected cash coliections for. Apnit. May, and June, and for the quarter in total. 2. Fiepare the following for merchandise imventory A. A miefchiandise purchases budget for Apall May, and June. 6. A schedule of expected cash disbursenverts for merchandise purchases for Apri, May, and June, and for the quarter in total 3. Prepare a cash badget for Aprit. Mayc and June as well as in total for the quater. Complete this question by entering your answors in the tabs below. Propare the following for merchandise inventory, a schedule af expected cach disaursements for merchandise purchasas for April, May, and June, and for the quarter in total Prepare a sthedule of expected cash collections for April, May, and June, and tor the quattein totain Prepare the following for merchandise inventory: A merchandise purchases bucget for April, May, and June A schedule of expected cash disbursements for merchandise purchases for April, May, and June; and for the quarter in total Prepare a cash budget for April, May, and June as well as in total for the quarter. Complete this question by entering your answers in the tabs below. Frepare o cash budget for April, May, and June as well as in total for the quarter, (Carh deficiency, repayments and interest ihould be indilcated by a minus sign. Garden Sales, Incorporated, sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has to borrow money during this quarter to support peak sales of lawn care equipment, which occur during May. The following information has been assembled to assist in preparing a cash budget for the quarter: a. Budgeted monthly absorption costing income statements for April-July are: b. Sales are 20% for cash and 80% on account. c. Sales on account are collected over a three-month period with 10% collected in the month of sale; 80% collected in the first month following the month of sale; and the remaining 10% collected in the second month following the month of sale. February's sales totaled $140,000, and March's sales totaled $200,000 d. Inventory purchases are paid for within 15 days. Therefore, 50% of a month's inventory purchases are paid for in the month of purchase. The remaining 50% is paid in the following month. Accounts payable at March 31 for inventory purchases during March total $91.000 e. Each month's ending inventory must equal 20% of the cost of the merchandise to be sold in the following month. The merchandise inventory at March 31 is $70000. b. Sales are 20% for cash and 80% on account. c. Sales on account are collected over a three-month period with 10% collected in the month of sale; 80% collected in the first month following the month of sale; and the remaining 10% collected in the second month following the month of sale. February's sales totaled $140,000, and March's sales totaled $200,000 d. Inventory purchases are paid for within 15 days. Therefore, 50% of a month's inventory purchases are paid for in the month of purchase. The remaining 50% is paid in the following month. Accounts payable at March 31 for inventory purchases during March total $91,000 e. Each month's ending inventory must equal 20% of the cost of the merchandise to be sold in the following month. The merchandise inventory at March 31 is $70,000 f. Dividends of $20,000 will be declared and pald in April. 9. Land costing $28,000 will be purchased for cash in May. h. The cash balance at March 31 is $42,000; the company must maintain a cash balance of at least $40,000 at the end of each month. 1. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month, up to a total loan balance of $200,000. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter. Required: 1. Prepare a schedule of expected cash collections for April, May. and June, and for the quarter in total 2. Prepare the following for merchandise inventory: a. A merchandise purchases budget for April, May, and June: b. A schedule of expected cash disbursements for merchandise purchases for April, May, and June, and for the quarter in total. 3. Prepare a cash budget for Apris, May, and June as well as in total for the quarter. Complete this question by entering your answers in the tabs below. Prepare a schedule of expected cash collections for Apill, May, and June, and for the quarter in total. Required: 1. Prepare a schedule of expected cash colbections for April, May, and June, and for the quarter in total 2. Prepare the following for merchandise inventory: a. A merchandise purctases budget for April. May, and June b. A schedule of expected cash disbursements for merchandise purchases for April, May, and Jine, and for the quarter in total 3. Prepare a cash budget for Aprit, May, and June as well as in total for the quarter. Complete this question by entering your answers in the tabs below. Prepare the following for merchandise inventory, a merchandise purchases budget for April, Mayp, and Junge: Required: 1. Prepare a schedule of expected cash collections for Aprit, May, and June, and for the quarter in total. 2 Prepare the following for merchandise inventory: a. A merchandise purchases budget for April, May, and June b. A schedule of expected cash disbursements for merchandise purchases for Apri, May, and June, and for the quarter in total. 3. Prepare a cash budget for April, May, and June as well as in total for the quarter. Complete this question by entering your answers in the tabs below. Prepare the following for merchandise inventory, a schedule of expected cash dibbursements for merchandise purchages for April, May, and June, and for the quarter in total. Complete this question by entering vour answers in the labs below. be indicated by a mucun sign. 1