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Jessica Inc. provides you with the following budgeted information for two months in the current year. March April Sales $ 5 7 5 , 0
Jessica Inc. provides you with the following budgeted information for two months in the current year.
March April
Sales $ $
Inventory Costs
Capital Expenditures
General and Administration Costs including amortization
Expectations:
Cash sales represent of total sales
All sales on account are collected in the following month
of Marchs $ worth of capital expenditures is to be paid at the end of March. The remainder is to be paid in the following month. April's capital expenditure will be paid in May.
Monthly amortization represents of general and administration costs
Inventory costs and general and administration costs are to be paid in the month in which they are incurred
Dividends of $ are expected to be declared in March and paid in April
Jessica Inc. obtains the minimum financing needed to ensure at least a $ cash balance at the end of the month through a note payable. Assume that any amount taken out of the bank loan may be repaid only at year end.
As of March
Cash $
Accounts Receivable
Inventory
LongTerm Assets
Accumulated Depreciation
Accounts Payable
Dividends Payable in March
Notes Payable
Shareholder's Equity
Comprised only of sales on account incurred in February
Do not enter dollar signs or commas in the input boxes.
Use the negative sign for any cash deficit.
Prepare a cash budget for March and April.
Jessica Inc.
Cash Budget for March and April
March April
Opening Cash Balance $Answer
$Answer
Receipts:
Cash from sales $Answer
$Answer
Collection from customers $Answer
$Answer
Total cash available $Answer
$Answer
Disbursements:
Inventory costs $Answer
$Answer
General and admin. costs $Answer
$Answer
Capital Expenditures $Answer
$Answer
Dividend Payment $Answer
$Answer
Total Cash Payments $Answer
$Answer
Cash Excess Deficit $Answer
$Answer
Financing Requirements:
Notes Payable $Answer
$Answer
Loan Repayment
Ending Cash Balance $Answer
$Answer
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