I need help with solving these questions below:

Class exercise - Master Budgeting {2 marks) 1. Caprice Corporation is a wholesaler of indusbial goods. Data regarding the store's operations follow: - Sales are budgeted at $350,000 for November, $320,000 for December, and $300,000 for January. - Collections are expected to be 80% in the month of sale, 16% in the month following the sale, and 4% uncollectible. - The cost of goods sold is 70% of sales. - The company desires an ending merchandise inventory equal to 60% of the cost of goods sold in the following month. Payment for merchandise is made in the month following the purchase. - The November beginning balance in the accounts receivable account is $78,000. - The November beginning balance in the accounts payable account is $254,000. Required: a. Prepare a Schedule of Expected Cash Collections for November and December. b. Prepare a Merchandise Purchases Budget for November and December. 2. Clay Corporation has projected sales and production in units for the second quarter of the coming year as follows: Aprii May June Sales .............. 50.000 40.000 60.000 Production ....... 60.000 50.000 50.000 Cash-related production costs are budgeted at $5 per unit produced. Of these production costs, 40% are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses will amount to $100,000 per month. The accounts payable balance on March 31 totals $190,000, which will be paid in April. All units are sold on account for $14 each. Cash collections from sales are budgeted at 60% in the month of sale, 30% in the month following the month of sale, and the remaining 10% in the second month following the month of sale. Accounts receivable on April 1 totaled $500,000 {$90,000 from February's sales and $410,000 from March's sales). Required: a. Prepare a schedule for each month showing budgeted cash disbursements for Clay Corporation. b. Prepare a schedule for each month showing budgeted cash receipts for Clay Corporation. 3. Weldon Industrial Gas Corporation Supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: - Sales are budgeted at 515360.000 for November, $380,000 for December, and $350000 for January. - Collections are expected to be 75% in the month of sale, 20% in the month following the sale, and 5% uncollectible. - The cost of goods sold is 65% of sales. - The company desires an ending merchandise inventory equal to 60% of the cost of goods sold in the following month. - Payment for merchandise is made in the month following the purchase. - Other monthly expenses to be paid in cash are $21,900. - Monthly depreciation is $20,000. - Ignore taxes. Balance Sheet October 31 Assets Cash ...................................................................................................... $ 16.000 Accounts receivable (net albwanc or uncollectible accou 74.000 Merchandise Inventory ................................................................ . 140,400 Progeny. plant and eqtipmert [net of 3500.000 accumulated deprec ....... 1 066 000 Total assets .................................................................................................. 51.29.541.00 Liabilities and Stockholders" Equity Accounts payable... .... ... Common stock .......... Retained earnings .......................................... Total liabilities and stockholders equity ........................................................... Required: a. Prepare a Schedule of Expected Cash Collections for November and December. b. Prepare a Merchandise Purchases Budget for November and December. c. Prepare Cash Budgets for November and December. d. Prepare Budgeted Income Statements for November and December. e. Prepare a Budgeted Balance Sheet for the end of December