Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need answer in excel with all formula wriiten besides on it please Computer the cash budget for April, May and June based on the

image text in transcribedI need answer in excel with all formula wriiten besides on it please

Computer the cash budget for April, May and June based on the following information: Sales are as follows: Collections are made as follows: 30% In month of sale 50% One month after sale 20% Two months after sale Purchases ( 60% of sales)are made two months in advance of sales, and paid for one month later. Rent is $7,500/ month, Other expenses are $10,000 per month. Sales tax ( 5% of sales) is paid one month after month of sale. A quarterly tax payment of $25,000 is due in June. The company is required to keep $10,000 in its checking account for its line, which charges 1% per month interest on any outstanding balance. The company has $15,000 in its account on March 31st. Computer the cash budget for April, May and June based on the following information: Sales are as follows: Collections are made as follows: 30% In month of sale 50% One month after sale 20% Two months after sale Purchases ( 60% of sales)are made two months in advance of sales, and paid for one month later. Rent is $7,500/ month, Other expenses are $10,000 per month. Sales tax ( 5% of sales) is paid one month after month of sale. A quarterly tax payment of $25,000 is due in June. The company is required to keep $10,000 in its checking account for its line, which charges 1% per month interest on any outstanding balance. The company has $15,000 in its account on March 31st

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Financial Management

Authors: Cheol Eun, Bruce Resnick

4th Edition

0072996862, 9780072996869

More Books

Students also viewed these Finance questions

Question

Wha t is proc rastination? (p. 3 02)

Answered: 1 week ago

Question

What are the role of supervisors ?

Answered: 1 week ago

Question

Did you provide headings that offer structure to the information?

Answered: 1 week ago