L! Margins Orientation ILL Size . Print Themes Aa Fonts Breaks Background Area x A fx Given Data Case 08-29: B C D CRAVAT SALES COMPANY E F $ $ 10,000 10.000 5 Minimum ending cash balance 6 Selling price 8 Recent and forecast sales (in units): 9 January (actual) 10 February (actual) 11 March (actual) 12 April 13 May 14 June 15 July 16 August 17 September 20,000 24,000 28,000 35,000 45,000 60,000 40,000 36,000 32,000 18 90% on 19 Desired ending inventories (percentage 20 of next month's sales) 21 Cost of earrings 22 23 Purchases paid as follows: 24 In month of purchase 25 In following month 50% 50% 26 25% 50% 25% 27 Collection on sales: 28 Sales collected current month 29 Sales collected following month 30 Sales collected 2nd month following 31 32 Variable monthly expenses: 33 Sales commissions (per tie) 34 35 Fixed monthly expenses: AP08-24 A Given P08-24 Ready Circular References 1.00 A C08-29 Given C08- ILL Size . Print Area Themes Aa Fonts Margins Orientation Breaks Backgrou Given Data Case 08-29: C D E F G A1 x fx B 35 Fbed monthly expenses: 36 Wages and salaries 37 Utilities 38 Insurance 39 Depreciation 40 Miscellaneous $ $ 22,000 14,000 1.200 1,500 3,000 $ 41 42 Land purchased in May 43 Dividends declared each quarter 25,000 12,000 45 Balance sheet at March 31: 14,000 $ 48,000 168,000 47 Cash 48 Accounts receivable 49 February sales 50 March sales 51 Inventory (31,500 units) 52 Prepaid insurance 53 Fixed assets, net of depreciation 54 Total assets 157,500 14,400 172.700 $ 574,600 56 Liabilities and Stockholders' Equity 57 Accounts payable 58 Dividends payable 59 Capital stock 60 Retained earnings 61 Total liabilities and stockholders' equity 85.750 12.000 300.000 176,850 $ 574,600 63 Agreement with Bank: 64 Borrowing increments 65 Maximum borrowing amount 66 Interest rate per month 67 Repayment increments 68 Total of interest paid each quarter 69 Required minimum cash balance P08-24 . Given P08-24 $ 1,000 $ 40,000 1% $ 1,000 100% $ 10,000 C08-29 Given C08 CRAVAT SALES COMPANY Budgets seu April May June Quarter Enter the appropriate data in the yellow cells. Your final answers for each section will be verified. 9 1a. Sales budget: 10 Budgeted sales in units 11 Selling price per unit 12 Total sales 13 14 1b. Schedule of expected cash collections: 15 February sales 16 March sales 17 April sales 18 May sales 19 June sales 20 Total cash collections 22 1c. Merchandise purchases budget: 23 Budgeted sales in units 24 Add budgeted ending inventory 25 Total needs 26 Less beginning inventory 27 Required unit purchases 28 Unit cost 29 Required dollar purchases 30 31 1d. Budgeted cash disbursements for merchandise purchases: 32 March purchases 33 April purchases 34 May purchases 35 June purchases 36 Total cash payments 799 CRAVAT SALES COMPANY Cash Budget For the Three Months Ending June 30 Given P08-24 C08-29 Given C08-29 AP08-24 Ready Circular References CRAVAT SALES COMPANY Cash Budget For the Three Months Ending June 30 April May Enter the appropriate data in the yellow cells. Your answers for " balance, ending" will be verified Cash balance, beginning Add receipts from customers Total cash available Less disbursements: Purchase of inventory Sales commissions Salaries and wages Utirties Miscellaneous Dividends paid Land purchases Total disbursements Excess (deficiency) of receipts over disbursements Financing: Borrowings Repayments Interest Total financing Cash balance, ending
