Jim Daniels Health Products has eight stores. The firm wants to expand by two more stores and needs a bank loan to do this. M Hewitt, the banker, will finance construction if the firm can present an acceptable three month financial plan for January through March. Following are actual and forecasted sales figures actual FC November $380,000 January $469,000 April forecast 3510,000 December 400,00 Fabry 500,000 March Of the firm's sales 30 percent are for cash and the remaining 70 percent are on credit. Of credit sales 20 percent are paid in the month after sale and 80 percent are paid in the second month after the sale Materials cost 40 percent of sales and are purchased and received each month in an amount sufficient to cover the current month's expected sales. Materials are paid for in the month they are received. Labour expense is 35 percent of sales and is paid in the month of sales. Selling and administrative expenses 6 percent of sales and is also paid in the month of sales Overhead is 532.500 in cash per month amortization expense is $10.900 per month Toxes of $8.900 will be paid in January and dividends of $6,500 will be paid in March. Cash at the beginning of January is 598.000 and the minimum desired cash balance is $93.000 . Prepare a schedule of monthly cash receipts for January Februay and March le bales wat roete Cash Heels Schedule Der 5 Credit sales Cash sales Collections in the month after credit sales Collections to the credit sales Total recinte b. Prepare a schedule of monthly cash payments for January February and March Bi Dar Cash Payne Total cath receipts Help Save & Submit b. Prepare a schedule of monthly cash payments for sonuary, February and March Die Daniels health Products Ch Pants Schedule February Payments for purchases 5 $ Selling and inistrative pense Overhead Tas Dividends Total cash payments c. Prepare a schedule of monthly cash budget with borrowings and repayments for January February and March (Do not leave any empty spaces Input a wherever it is required. Negative answers and amounts to be deducted should be indicated by a minus sign) i Daniel Watts Cat du March Total cash receipts $ $ $ Total cat eyes taste Benchance Cuttive cash balance Monthly vart) Cative lan balance Ending Jim Daniels Health Products has eight stores. The firm wants to expand by two more stores and needs a bank loan to do this. M Hewitt, the banker, will finance construction if the firm can present an acceptable three month financial plan for January through March. Following are actual and forecasted sales figures actual FC November $380,000 January $469,000 April forecast 3510,000 December 400,00 Fabry 500,000 March Of the firm's sales 30 percent are for cash and the remaining 70 percent are on credit. Of credit sales 20 percent are paid in the month after sale and 80 percent are paid in the second month after the sale Materials cost 40 percent of sales and are purchased and received each month in an amount sufficient to cover the current month's expected sales. Materials are paid for in the month they are received. Labour expense is 35 percent of sales and is paid in the month of sales. Selling and administrative expenses 6 percent of sales and is also paid in the month of sales Overhead is 532.500 in cash per month amortization expense is $10.900 per month Toxes of $8.900 will be paid in January and dividends of $6,500 will be paid in March. Cash at the beginning of January is 598.000 and the minimum desired cash balance is $93.000 . Prepare a schedule of monthly cash receipts for January Februay and March le bales wat roete Cash Heels Schedule Der 5 Credit sales Cash sales Collections in the month after credit sales Collections to the credit sales Total recinte b. Prepare a schedule of monthly cash payments for January February and March Bi Dar Cash Payne Total cath receipts Help Save & Submit b. Prepare a schedule of monthly cash payments for sonuary, February and March Die Daniels health Products Ch Pants Schedule February Payments for purchases 5 $ Selling and inistrative pense Overhead Tas Dividends Total cash payments c. Prepare a schedule of monthly cash budget with borrowings and repayments for January February and March (Do not leave any empty spaces Input a wherever it is required. Negative answers and amounts to be deducted should be indicated by a minus sign) i Daniel Watts Cat du March Total cash receipts $ $ $ Total cat eyes taste Benchance Cuttive cash balance Monthly vart) Cative lan balance Ending
