Hamble Company has provided the folowing tudgot information for the Frat euater of 2024 : Addifonal data relatod to the first quatier of 2024 fer Humbie Campary: (Click me icon to view the busget information.] (Cick the iosn to view Be data) Head the reaurements. Requirement 1. Prepare Humble Comparys scheduie of cash moeipts from cistomers and schedule of cash payments for the frst quarler of 2024. Begn by peparing the schedue of caih recects from customens for the irst quartor of 2024. Cash Receipts from Customerm Accounte Receivable balance. March 31, 2024: 1ot Cu. - Halns, celectad in 2nd Ctr. Propare the echedue of cash paymenta for ine frst quarier of 2024 Hurbie Compevy has providod the followng budset infornation for ne frst quater of ave: Asditonal deva relased to the first quarier of 2024 for Humble Company: (Cilisk the iopn la vew ihe buspet intlomebon) (Giok tha icon io viow the data.) Requirement 2. Prepare Humble Company's cash budget for the first quarter of 2024. Review the schedule of cash receipts from customers you prepared in Requirement 1 . Review the schedule of cash payments you prepared in Requirement 1. Data table Requirements 1. Prepare Humble Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2024. 2. Prepare Humble Company's cash budget for the first quarter of 2024. More info pents for the frat quartor of 2024. a. Capital expenditures include $36,000 for new manufacturing equlpment to be purchased and paid in the finst quarter. b. Cash receipts are 70% of sales in the quarter of the sale and 30% in the quarter following the sale. c. Direct materials purchases are paid 60% in the quarter purchased and 40% in the noxt quarter. d. Direct labor, manufacturing overthead, and solling and administrative costs are pald in the quarter incurred. e. Incame tax expense for the first quarter is projected at $44,000 and is paid in the quater incurred. t. Humble Company expects to have adecuate cash funds and does not anticipate borrowing in the first quartec. 9. The December 31, 2023, balance in Cash is $28,000, in Accounts Recaivabie is $23.200, and in Accounts Payable is $10.500 Hamble Company has provided the folowing tudgot information for the Frat euater of 2024 : Addifonal data relatod to the first quatier of 2024 fer Humbie Campary: (Click me icon to view the busget information.] (Cick the iosn to view Be data) Head the reaurements. Requirement 1. Prepare Humble Comparys scheduie of cash moeipts from cistomers and schedule of cash payments for the frst quarler of 2024. Begn by peparing the schedue of caih recects from customens for the irst quartor of 2024. Cash Receipts from Customerm Accounte Receivable balance. March 31, 2024: 1ot Cu. - Halns, celectad in 2nd Ctr. Propare the echedue of cash paymenta for ine frst quarier of 2024 Hurbie Compevy has providod the followng budset infornation for ne frst quater of ave: Asditonal deva relased to the first quarier of 2024 for Humble Company: (Cilisk the iopn la vew ihe buspet intlomebon) (Giok tha icon io viow the data.) Requirement 2. Prepare Humble Company's cash budget for the first quarter of 2024. Review the schedule of cash receipts from customers you prepared in Requirement 1 . Review the schedule of cash payments you prepared in Requirement 1. Data table Requirements 1. Prepare Humble Company's schedule of cash receipts from customers and schedule of cash payments for the first quarter of 2024. 2. Prepare Humble Company's cash budget for the first quarter of 2024. More info pents for the frat quartor of 2024. a. Capital expenditures include $36,000 for new manufacturing equlpment to be purchased and paid in the finst quarter. b. Cash receipts are 70% of sales in the quarter of the sale and 30% in the quarter following the sale. c. Direct materials purchases are paid 60% in the quarter purchased and 40% in the noxt quarter. d. Direct labor, manufacturing overthead, and solling and administrative costs are pald in the quarter incurred. e. Incame tax expense for the first quarter is projected at $44,000 and is paid in the quater incurred. t. Humble Company expects to have adecuate cash funds and does not anticipate borrowing in the first quartec. 9. The December 31, 2023, balance in Cash is $28,000, in Accounts Recaivabie is $23.200, and in Accounts Payable is $10.500
