I hope this one is clear.

thanks

Part 1 relates to Module 22 have a template set up on the Part2BudgetSolution worksheet that you should use to complete the required budgets You need to use cell references in the development of your budgets You must use this worksheet to reference the data that is being inputted onto the budgets on the budget worksheet. If you type in any numbers in the solution, I will take off 50% of the total points or this part, since we use Exco so that we can You should use this worksheet as your data field and only use cell references and formulas in your budgets Your grade will be based on accuracy of your solution and correct usage of excel The budget worksheet has formatted budgets for you The beauty behind excel is that managers can perform what-if analysis just by changing the data, so you do not need to retype the bud have used cell references and formulas throughout First Store prepares budgets quarterly The following information is available for use in planning the second quarter budgets for 2019 First Store Balance Sheet March 31, 2019 Assets Liabilities Cash Accounts receivable nventory Prepaid Insurance Net Fixtures 3,000 25,000 30,000 2,000 25,000 Accounts payable Dividends payable Total Liabilities Stockholders' Equity Sa Common Stock Retained Earnings Total liabilities and Stockholders' equity Total Assets 85,000 Actual and forecasted sales for selected months in 2019 are as follows Month January February March April May June July Sales Revenue $ 60,000 50,000 40,000 50,000 60,000 70,000 90,000 Monthly operating expenses are as follows, but note you will need to compute the monthly insurance expense 213 Wages and salaries Depreciation Utilities Rent 25,000 100 1,000 2,000 Cash dividends are declared during the third month of each quarter and are paid during the first month of the following quarter. Operating expenses, except insurance and depreciation are paid monthly The prepaid insurance is for five more months Cost of goods sold is equal to Ending Inventories are sufficient for Purchases during any given month for merchandise are paid in full during the following month All sales are on account 50% of sales revenue in month of sale 120% of next month's cost of sales 50% collected during month of sale 40% collected during the next month after sale 10% collected the second month after sale $1,000 at an annual interest rate of $3,000 at beginning of each month 12% Money can be borrowed and repaid in multiple of The company requires a minimum cash balance of the time the principal is repaid, interest is paid on the portion of principal that is repaid All borrowing is at the beginning of the month, and all repayment is at the end of the month. e month of the borrowing and thereafter until paid at the end of the month when there is sufficient funds Required: Prepare and answer the following budgets and questions on the Part1Budgetsolution Please note that the quarter total column does not necessarily mean you total a row. When there are For example, please review Exhibit 22.5 purchase b Round to the nearest dollar. 1. Prepare a purchase budget for each month of the second quarter ending June 30, 2019 along with a quarter colum Worksheet. Make sure you us beginning and ending ba udget page 22-10 the desired ending inventory and beginning inventory qu Prepare a cash receipts schedule for each month of the second quarter ending June 30, 2019 along with a quarter 3 Prepare a cash disbursements schedule for each month of the second quarter ending June 30, 2019 long with quarter column. Do m 4. Prepare a cash budget for each month of the second quarter ending June 30, 2019 Include budgeted borrowings and repayments if 5. Prepare a budgeted income statement for each month of the second quarter ending June 30, 2019 along with a quarter column 6. Prepare a budgeted balance sheet as of June 30, 2019 7 What if the company is able to decrease the annual interest rate on loans to 10% Which budgets will change and what will be the n You should only have to change the annual interest rate on this worksheet and all the appropriate budgets will change on the column. Do not in solution w annual interest rate back to the original percentage before you su Part 1 relates to Module 22 have a template set up on the Part2BudgetSolution worksheet that you should use to complete the required budgets You need to use cell references in the development of your budgets You must use this worksheet to reference the data that is being inputted onto the budgets on the budget worksheet. If you type in any numbers in the solution, I will take off 50% of the total points or this part, since we use Exco so that we can You should use this worksheet as your data field and only use cell references and formulas in your budgets Your grade will be based on accuracy of your solution and correct usage of excel The budget worksheet has formatted budgets for you The beauty behind excel is that managers can perform what-if analysis just by changing the data, so you do not need to retype the bud have used cell references and formulas throughout First Store prepares budgets quarterly The following information is available for use in planning the second quarter budgets for 2019 First Store Balance Sheet March 31, 2019 Assets Liabilities Cash Accounts receivable nventory Prepaid Insurance Net Fixtures 3,000 25,000 30,000 2,000 25,000 Accounts payable Dividends payable Total Liabilities Stockholders' Equity Sa Common Stock Retained Earnings Total liabilities and Stockholders' equity Total Assets 85,000 Actual and forecasted sales for selected months in 2019 are as follows Month January February March April May June July Sales Revenue $ 60,000 50,000 40,000 50,000 60,000 70,000 90,000 Monthly operating expenses are as follows, but note you will need to compute the monthly insurance expense 213 Wages and salaries Depreciation Utilities Rent 25,000 100 1,000 2,000 Cash dividends are declared during the third month of each quarter and are paid during the first month of the following quarter. Operating expenses, except insurance and depreciation are paid monthly The prepaid insurance is for five more months Cost of goods sold is equal to Ending Inventories are sufficient for Purchases during any given month for merchandise are paid in full during the following month All sales are on account 50% of sales revenue in month of sale 120% of next month's cost of sales 50% collected during month of sale 40% collected during the next month after sale 10% collected the second month after sale $1,000 at an annual interest rate of $3,000 at beginning of each month 12% Money can be borrowed and repaid in multiple of The company requires a minimum cash balance of the time the principal is repaid, interest is paid on the portion of principal that is repaid All borrowing is at the beginning of the month, and all repayment is at the end of the month. e month of the borrowing and thereafter until paid at the end of the month when there is sufficient funds Required: Prepare and answer the following budgets and questions on the Part1Budgetsolution Please note that the quarter total column does not necessarily mean you total a row. When there are For example, please review Exhibit 22.5 purchase b Round to the nearest dollar. 1. Prepare a purchase budget for each month of the second quarter ending June 30, 2019 along with a quarter colum Worksheet. Make sure you us beginning and ending ba udget page 22-10 the desired ending inventory and beginning inventory qu Prepare a cash receipts schedule for each month of the second quarter ending June 30, 2019 along with a quarter 3 Prepare a cash disbursements schedule for each month of the second quarter ending June 30, 2019 long with quarter column. Do m 4. Prepare a cash budget for each month of the second quarter ending June 30, 2019 Include budgeted borrowings and repayments if 5. Prepare a budgeted income statement for each month of the second quarter ending June 30, 2019 along with a quarter column 6. Prepare a budgeted balance sheet as of June 30, 2019 7 What if the company is able to decrease the annual interest rate on loans to 10% Which budgets will change and what will be the n You should only have to change the annual interest rate on this worksheet and all the appropriate budgets will change on the column. Do not in solution w annual interest rate back to the original percentage before you su