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i need to know this is correct ( please do the table ) Use the following information to prepare the September cash budget for PTO
i need to know this is correct please do the table
Use the following information to prepare the September cash budget for PTO Company. Ignore the "Loan activity" section of the budget a. Beginning cash balance, September 1, $40,000. b. Budgeted cash receipts from September sales, $255,000 c. Direct materials are purchased on credit. Purchase amounts are August (actual), $80,000; and September (budgeted), $110,000 Payments for direct materials follow: 65% in the month of purchase and 35% in the first month after purchase. d. Budgeted cash payments for direct labor in September, $40,000 e. Budgeted depreciation expense for September, $4,000 f. Budgeted cash payment for dividends in September, $20,000 g. Budgeted cash payment for income taxes in September, $10,000 h. Budgeted cash payment for loan interest in September, $1,000. Cash Budget September Beginning cash balance Add: Cash receipts from sales Total cash available ess: Cash payments for Direct materials Direct labor Dividends Income taxes Interest on loan Total cash payments Ending cash balance 40,000 255,000 295,000 99,500 40,000 60,000 10,000 1 ,ooo 210,500 84,500
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