MASTER BUDGET BALANCE SHEET NOT ADDING UP! HELP!

93 Sales 94 COGS 95 Gross Margin 96 Selling and Admin Expense 97 Net Operating Income 98 Interest Expense 99 Net Income 100 $150,000 70000 $80,000 $70,650 $9.350 S0 $9,350 101 Budgeted Balance Sheet 102 103 104 Assets: June 31, 2018 Uabilities $19,750.0 Accounts payable Dividends payable $16,750 105 Cash 3000 106 Accounts Receivable 107 Inventory 108 Prepaid insurance 109 Land, Building, Equip 110 $22,400.0 Rent payable Loan payable Stockholder equilty Capital equity Retained earnings 7000 5000 2250 80000 54400 $50,000 111 112 Total Assets: 113 114 $134,150.0 Total Uabilities and Stockholders Equity $126,400 115 116 117 118 119 120 121 122 123 124 125 + Sheet1 Ready MacBook Air 888 20 D 7 Hi I Company Sales Budget 10 11 January February March 8750 Apel May s000 June Quarter 12 Units sold 13 Selling price 5625 s000 7500 7500 8750 S8 14 Sales 15 20% (cash) 16 BO% (redn) $45.000 $9.0000 $36,000.0 S70,000 $34,0000 s56,0000 60,000 $40,000 SA0000 S40,000 S8,0000 S32,000.0 S0,000 S14,000 D SS6.000 $150000 s60,000 $12.000.0 $12,0000 $4,000.0 $12,0000 $48,000.0 17 Schedule of Expected Cash Collections 18 19 Quarter 20 April May June 21 Beginning Accounts Receivable 22 Apri $19,200 S9200 S40,0000 $40,0000 $47,800 0 $12,800.0 $27,3000 $27,2000 $12.800.0 23 May 24 June $47,6000 s04000 $1468000 $46400.0 S40000 0 25 Total 26 Merchandise Purchase Budget 27 Quarter 30000 28 June Apri May 16000 MOnni 29 20000 20000 30 Budgeted Cost of Goods Sold s000 00 4000 36000 30000 31 Add End Inv 32 Total Needs 33 Less Beginning Inv 34 Required Purchases 26000 24000 14000 72000 4000 4000 22000 Schedule of Epected Cash Disbunsements 35 36 Quarter June May 13750 37 Apr 38 39 Beginning Accounts Payable 40 Apr 13750 10000 20000 30000 13000 22000 13000 41 May Sheett Ready MacBook Air & ese % 7 6 5 3 2 T E JW D E G Schedule of Epected Cash Disbursements April May June inning Accounts Payable ril Quarter 13750 13750 10000 10000 11000 20000 ay 11000 22000 ne 20000 20000 tal 23750 31000 21000 75750 BCI Company Selling and Administrative Expenses. For quarter ended June 31, 2018 June May Quarter April $15,000 $4,000 $7,000 $4,000 Wariable selling and administrative expense: Rent Fixed selling and administrative expense Wages and salaries 45000 15000 15000 15000 150 1200 450 150 150 3600 1200 Insurance 1200 3000 1000 Depreciation Utilities Advertising 1000 1000 900 300 300 500 400 300 1500 1200 500 500 400 400 Misc. 18550 $25,550 55650 18550 18550 Rent $70,450 $22,550 4000 $22.550 6000 Total FS+ AE Expense Total S+ AE Expense Add: prev. var. rent 14000 4000 15000 450 7000 4000 4000 150 150 150 3600 1200 1200 Less: var rent 1200 65600 $21,200 $21.200 $23.200 Less: insurance s Less: depreciation Cash disbursements for selling and admin Cash budget Quarter ended June 31, 2018 + Sheett Ready MacBook Air Cash budget Quarter ended June 31, 2018 69 70 71 April June Quarter y $16,300 72 $45,600 $15,750 $13,550 73 Beg. Cash 74 Add: cash collections $146,800 $192,400 $40,000.0 $55,750 $60,400.0 $46,400 $73,950 $62,700 75 Total cash available 76 77 Inventory 78 Expenses 79 Equipment 80 Dividends 81 Total Cash Disbursements 82 Excess In cash 75750 65600 21000 31000 23750 $23,200 0 $21,200 5000 $21,200 5000 0 1500 0 0 1500 57200 147850 42200 48450 $44,550 $13,550 $16,750 $14,250 83 $0 S0 S0 $0 84 Rinancing $0 $0 50 85 Borrowings $0 $0 S0 S0 86 Repayments S0 $0 0 S0 S0 87 Interest S0 S44,550 $16,750 88 Total Financing 89 Ending Cash Balance $13,550 $14,250 90 Budgeted Income Statement For Quarter Ended June 31, 2018 91 $150,000 92 70000 93 Sales S80,000 94 COGS $70,650 95 Gross Margin 96 Selling and Admin Expense 97 Net Operating Income 98 Interest Expense 99 Net Income 100 $9,350 $9,350 Budgeted Balance Sheet June 31, 2018 101 102 103 + Sheet1 Ready MacBook Air 93 Sales 94 COGS 95 Gross Margin 96 Selling and Admin Expense 97 Net Operating Income 98 Interest Expense 99 Net Income 100 $150,000 70000 $80,000 $70,650 $9.350 S0 $9,350 101 Budgeted Balance Sheet 102 103 104 Assets: June 31, 2018 Uabilities $19,750.0 Accounts payable Dividends payable $16,750 105 Cash 3000 106 Accounts Receivable 107 Inventory 108 Prepaid insurance 109 Land, Building, Equip 110 $22,400.0 Rent payable Loan payable Stockholder equilty Capital equity Retained earnings 7000 5000 2250 80000 54400 $50,000 111 112 Total Assets: 113 114 $134,150.0 Total Uabilities and Stockholders Equity $126,400 115 116 117 118 119 120 121 122 123 124 125 + Sheet1 Ready MacBook Air 888 20 D 7 Hi I Company Sales Budget 10 11 January February March 8750 Apel May s000 June Quarter 12 Units sold 13 Selling price 5625 s000 7500 7500 8750 S8 14 Sales 15 20% (cash) 16 BO% (redn) $45.000 $9.0000 $36,000.0 S70,000 $34,0000 s56,0000 60,000 $40,000 SA0000 S40,000 S8,0000 S32,000.0 S0,000 S14,000 D SS6.000 $150000 s60,000 $12.000.0 $12,0000 $4,000.0 $12,0000 $48,000.0 17 Schedule of Expected Cash Collections 18 19 Quarter 20 April May June 21 Beginning Accounts Receivable 22 Apri $19,200 S9200 S40,0000 $40,0000 $47,800 0 $12,800.0 $27,3000 $27,2000 $12.800.0 23 May 24 June $47,6000 s04000 $1468000 $46400.0 S40000 0 25 Total 26 Merchandise Purchase Budget 27 Quarter 30000 28 June Apri May 16000 MOnni 29 20000 20000 30 Budgeted Cost of Goods Sold s000 00 4000 36000 30000 31 Add End Inv 32 Total Needs 33 Less Beginning Inv 34 Required Purchases 26000 24000 14000 72000 4000 4000 22000 Schedule of Epected Cash Disbunsements 35 36 Quarter June May 13750 37 Apr 38 39 Beginning Accounts Payable 40 Apr 13750 10000 20000 30000 13000 22000 13000 41 May Sheett Ready MacBook Air & ese % 7 6 5 3 2 T E JW D E G Schedule of Epected Cash Disbursements April May June inning Accounts Payable ril Quarter 13750 13750 10000 10000 11000 20000 ay 11000 22000 ne 20000 20000 tal 23750 31000 21000 75750 BCI Company Selling and Administrative Expenses. For quarter ended June 31, 2018 June May Quarter April $15,000 $4,000 $7,000 $4,000 Wariable selling and administrative expense: Rent Fixed selling and administrative expense Wages and salaries 45000 15000 15000 15000 150 1200 450 150 150 3600 1200 Insurance 1200 3000 1000 Depreciation Utilities Advertising 1000 1000 900 300 300 500 400 300 1500 1200 500 500 400 400 Misc. 18550 $25,550 55650 18550 18550 Rent $70,450 $22,550 4000 $22.550 6000 Total FS+ AE Expense Total S+ AE Expense Add: prev. var. rent 14000 4000 15000 450 7000 4000 4000 150 150 150 3600 1200 1200 Less: var rent 1200 65600 $21,200 $21.200 $23.200 Less: insurance s Less: depreciation Cash disbursements for selling and admin Cash budget Quarter ended June 31, 2018 + Sheett Ready MacBook Air Cash budget Quarter ended June 31, 2018 69 70 71 April June Quarter y $16,300 72 $45,600 $15,750 $13,550 73 Beg. Cash 74 Add: cash collections $146,800 $192,400 $40,000.0 $55,750 $60,400.0 $46,400 $73,950 $62,700 75 Total cash available 76 77 Inventory 78 Expenses 79 Equipment 80 Dividends 81 Total Cash Disbursements 82 Excess In cash 75750 65600 21000 31000 23750 $23,200 0 $21,200 5000 $21,200 5000 0 1500 0 0 1500 57200 147850 42200 48450 $44,550 $13,550 $16,750 $14,250 83 $0 S0 S0 $0 84 Rinancing $0 $0 50 85 Borrowings $0 $0 S0 S0 86 Repayments S0 $0 0 S0 S0 87 Interest S0 S44,550 $16,750 88 Total Financing 89 Ending Cash Balance $13,550 $14,250 90 Budgeted Income Statement For Quarter Ended June 31, 2018 91 $150,000 92 70000 93 Sales S80,000 94 COGS $70,650 95 Gross Margin 96 Selling and Admin Expense 97 Net Operating Income 98 Interest Expense 99 Net Income 100 $9,350 $9,350 Budgeted Balance Sheet June 31, 2018 101 102 103 + Sheet1 Ready MacBook Air