FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calbei 11 10 - A 96 A Alignment Number Conditional Formatos Cell Formatting Table Styles Paste BTU- Cells Editing Clipboard Font Doints A D eBook Print References x S&P Enterprises needs a cash budget for March. The following information is 15 & P Enterprises needs a cash budget for March. The following information is available. 2 3 Data January February March 4 Actual January and February and expected March sales: 5 Cash sales $ 1,600 $ 3,750 S 5,100 6 Sales on account 25 000 30,000 40,000 7 Total Sales 26.000 $33.250 S45.100 8 9 Accounts Receivable Collections: 10 Month of sale 15% 11 Month following sale 60% 12 Second month following sale 22% 13 Uncollectible 3% 14 15 Accounts payable for inventory purchases, March 1 balance $10,500 16 Budgeted inventory purchases in March $23,500 17 Inventory payments! 18 Month of purchase 60% 19 Month following purchase 40% 20 21 Total budgeted selling & administrative expenses in March $12,500 22 Budgeted selling & administrative depreciation in March $3,200 23 24.thar hedastard roch Wichiamante in March Budget Data Schedules and Cash Budget E 100% READY Attempt(s) NOME FILE INSERT PAGE LAYOUT FORMULAS DATA VW VIEW X Cube 10 Cet Editing BU Alert Number Conditional Formatos Cell formatting Table Styles 1 pboard Font 8 > S&P Enterprises needs a cash budget for March. The following information is D F A . $3,200 22 Budgeted selling & administrative depreciation in March Print erences 24 Other budgeted cash disbursements in March 25 Equipment purchases $14,000 26 Dividends to be paid $2,000 27 20 Minimum cash balance to be maintained 510,000 29 March 1 cash balance $11,500 30 March 1 outstanding borrowings SO 31 March 1 interest due $0 32 33 The company has a line of credit available to bolster the cash balance as needed. 34 35 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules 37 click the schedules and Cash Budget tab to prepare the following: 1. Schedule of expected cash collections for March 2. Schedule of expected cash disbursements for inventory purchases for March 40 1. Cash budget for March indicate in the financing section any borrowing that will be needed in March Assume that 41 any interest will not be paid until the following month 43 Budget Data Schedules and Cash Budget 100% READY Attempt(s) FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 111 10 H Paste BU A A % A Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard Font 8 points A1 V x f Expected cash collections: - B c D eBook Expected cash collections: 2 March cash collections 3 March collections on account: 4 January sales February sales March sales 7 Total cash collections 5 Print 6 3 References 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance 11 March purchases 12 Total cash payments 13 15 16 17 S&P Enterprises Cash Budget For the Month of March 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available before current financing 22 Less disbursements: 23 Payments to suppliers 24 Selline and administrative expenses Budget Data Schedules and Cash Budget + L 100% READY Attempt(s) 24 Selling and administrative expenses 25 Equipment purchases 26 Dividends paid 27 Total disbursements 28 Excess (deficiency) of cash available over disbursements 29 Financing: 30 Borrowings 31 Repayments 32 Interest 33 Total financing 34 Cash balance, March 31 35 36 37 38 39 40 41 42 43 44 Budget Data Schedules and Cash Budget 100% READY Attempt(s)
