I need help with finding the Cash budget report. How do I calculate the beginning cash balance for each month? Please include the formula.
Operating Expense Budget For the 6 months ending June 2020 Jan 20 Feb 20 Mar '20 Apr '20 May 20 Jun 20 6 mos total Salaries and Wages S 3,000 3,000 S 3,000 S 3,000 S 3,000 5 3,000 S 18,000.00 Sales Commissions 7,000 7,980 8,400 10,920 14,175 17,325 65,800.00 Rent 8,000 8,000 8,000 8,000 8,000 8.000 48,000.00 Other Variable Cash Expenses 6,000 6,840 7,200 9,360 12,150 14,850 56,400.00 Supplies Expense 2,000 2,000 2,000 2,000 2,000 2,000 12,000.00 Other - Overhead 24,000 24,000 24,000 24,000 24,000 24,000 144,000.00 Other - Depreciation 24,000 24,000 24,000 24,000 24,000 24,000 144,000.00 Bad Debt Expense 3,150 3,248 2,800 3,192 3,360 4,368 20,118.00 Total operating expenses 77,150 79,068 79,400 84,472 90,685 97,543 S 508,318.00 Depreciation and noncash items 24,000 24,000 24,000 24,000 24,000 24,000 144,000 Bad Debt Expense 3,150 3,248 2,800 3,192 3,360 4,368 20,118 Cash disbursements for operating expenses S 50,000 51,820 S 52,600 S 57,280 5 63,325 69,175 S 344,200 Equipment payment - January 50,000 Equipment payment - February 30,000 Dividends - March 12,000 Minimum Monthly Cash Budget 15,000 Imagine, Inc. Cash Budget For the 6 months ending June 2020 Jan 20 Feb '20 Mar '20 Apr '20 May '20 Jun '20 6 mos total Cash balance, beginning S 15,000 Add collections from customers 104,200 106,132 112,300 134,328 171,315 214.572 otal cash available 119,200 Less disbursements: Cash disbursements for merchandise purch 43,200 43,968 50,515 61,690 76,306 87,847 S 363,526 Cash disbursements for operating expenses 50,000 51,820 52,600 57,280 63,325 69,175 344,200 Equipment purchases 50,000 30,000 80,000 Dividends 12,000 12,000 Total cash disbursements 143,200 125,788 115,115 118,970 139,631 157,022 S 799,726 Excess of receipts over disbursements (24,000) Financing: Borrowing-note Repayments-note Total financing Cash balance, endingSalaries and Wages $3,000 Sales Commissions 7% of sales revenue Rent $8,000 Other Variable Cash Expenses 6% of sales revenue Supplies Expense: See note $2,000 Other: See note $48,000 Note: Other general and administrative overhead is expected to be $48,000 per month. Of this amount, $24,000 represents depreciation and other non-cash expenses. The company maintains on hand one month's worth of supplies 10. The company must maintain a minimum cash balance of $15,000, Borrowing can make up shortfalls. For simplicity, assume that the bank will only lend (and accept repayments) in $1,000 Increments. Ignore interest on the loan in your calculations, but minimize the amount borrowed and pay off any loans as soon as possible. 11. Cash on hand as of December 31, 2019 is expected to be $15,000, In addition, there will be no notes payable as of this date, 12. See below the other Balance Sheet accounts with their expected balances as of December 31, 2019: 2,000 Property, Plant and Equipment ........121201,060,090 Accumulated Depreciation ....mmmmmm .626,475 Common 51001..1012 MIN .200,000 Retained Earnings...01208010
