Mangerial Accounting

CACESTUUon) 1 Saved Preparing a Cash Budget with Supporting Schedules using Excel's Multi-Tab Cell Referencing and Basic Math Functions S&P Enterprises has provided data from the first three months of the year. The Controller has asked you to prepare the Cash Budget and the related Schedules for Expected cash collections and Payments to suppliers. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. . Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below. If in a blank cell on the Budget Data tab, "-35" was entered, the formula would output the result from cell 85, or 1600 in this example, Multi-Tab Cell Reference: Allows you to refer to data from another cell in a separate tab in the worksheet. When using the multi-tab cell reference, type the equal sign first, then click on the other tab and then click on the cell you want to reference. The syntax of a multi-tab cell reference looks different than a normal cell reference, since it includes the tab name surrounded by apostrophes and also an exclamation point before the cell location. From the Excel Simulation below, if in a blank cell on the Schedules and Cash Budget tab "-"Budget Data C7" was entered, the formula would output the result from cell C7 in the Budget Data tab, or 33,750 in this example. Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add). - (minus sign to subtract). (asterisk sign to multiply), and / forward slash to divide). From the Excel Simulation below, if in a blank cell on the Budget Data tab, -815+B16* was entered, the formula would add the values from those cells and output the result, or 34,000 in this example. If using the other math symbols the result would output an appropriate answer for its function, SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell -SUM(810,311,B12)" was entered the formula would output the result of adding those three separate cells, or 97% in this example. Similarly, if in a blank cell -SUM(810:812) was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 97% in this example. B. 2 6 X Cash Budget with Supporting Cash Collections and Disbursements Schedules Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME Sign in Calori - 11 A A 92 KI FILE - X Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? 3 HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri - 11 AA % B I U & A Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Font Styles X fax S&P Enterprises needs a cash budget for March. The following information is Paste Clipboard A1 B E > 1 S & P Enterprises needs a cash budget for March. The following information is available. D 2 3 Data January February March 4 Actual January and February and expected March sales: 5 Cash sales S 1,600 $ 3,750 $ 5.100 6 Sales on account 25.000 30,000 40.000 7 Total Sales $ 26,600 $ 33,750 $ 45,100 8 9 Accounts Receivable Collections: 10 Month of sale 15% 11 Month following sale 60% 12 Second month following sale 22% 13 Uncollectible 3% 14 S10,500 15 Accounts payable for inventory purchases, March 1 balance $23.500 16 Budgeted inventory purchases in March 17 Inventory payments: 60% 18 Month of purchase 40% 19 Month following purchase 20 SI2,500 21 Total budgeted selling & administrative expenses in March $3,200 22 Budgeted selling & administrative depreciation in March 23 24. Other budgeted cash disbursements in March Budget Data Schedules and Cash Budget 4 100% !! READY Attempt(s) FILE Paste Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign up Calibri -11 A A % B IU- > Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Font Styles S&P Enterprises needs a cash budget for March. The following information is Clipboard A1 > B 20 D 21 Total budgeted selling & administrative expenses in March 22 Budgeted selling & administrative depreciation in March $12,500 23 $3,200 24 Other budgeted cash disbursements in March 25 Equipment purchases $14,000 26 Dividends to be paid $2.000 27 28 Minimum cash balance to be maintained $10,000 29 March 1 cash balance $11.500 30 March 1 outstanding borrowings $0 31 March 1 interest due 32 33 The company has a line of credit available to bolster the cash balance as needed. 35 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. 36 37 Click the Schedules and Cash Budget tab to prepare the following: 38 1. Schedule of expected cash collections for March. 2. Schedule of expected cash disbursements for inventory purchases for March. 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that any interest will not be paid until the following month. $0 34 39 40 41 42 43 + Schedules and Cash Budget HE Budget Data READY Attempt(s) Saved FILE HOME Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? - 6 X INSERT PAGE LAYOUT FORMULAS DATA REVIEW Sign in Calibri - 11 VIEW Paste A BIU % Clipboard Font Alignment Number Conditional Formatas Cell Formatting Table Styles Styles Cells Editing B4 f A B D E 1 Expected cash collections: 2 March cash collections 3 March collections on account: 4 January sales 5 February sales 6 March sales 7 Total cash collections 8 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance 11 March purchases 12 Total cash payments S&P Enterprises Cash Budget 15 16 13 14 For the Month of March 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available before current financing 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses Schedules and Cash Budget MOON Budget Data READY Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? FILE HOME INSERT PAGE LAYOUT FORMULAS DATA Calibri REVIEW -11 VIEW Sign In Paste BIU- A D A Clipboard Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cels Font Editing B4 fo A B D E . 13 14 15 S&P Enterprises Cash Budget For the Month of March 16 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available before current financing 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses 25 Equipment purchases 26 Dividends paid 27 Total disbursements 28 Excess (deficiency) of cash available over disbursements 29 Financing: 30 Borrowings 31 Repayments 32 Interest 33 Total financing 100% 34 Cash balance, March 31 35 36 Budget Data Schedules and Cash Budget 4 READY 1/3