P9-61A (similar to)

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ScottScott's

Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year. Here is the information about the company's upcoming cash receipts and cash disbursements:

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Requirements

1.	Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. Show totals for each month and totals for January and February combined.
2.	Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance on February 28?

Requirement 1a. Prepare a schedule of budgeted cash collections for January and February. Show totals for each month and totals for January and February combined.

Scott's Restaurant Supply

Cash Collections Budget

For the Months Ended January 31 and February 28

	January
Cash sales
Collection on credit sales
Total cash collections

Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. Show totals for each month and tota's for January and February combined. 2. Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance on February 28 Requirement 1a. Prepare a schedule of budgeted cash collections for January and February. Show totals for each month and totals for January and February combined. Kevin's Restaurant Supply Cash Collections Budget For the Months Ended January 31 and February 28 January February Total Cash sales Collection on credit sales Total cash collections b. Prepare a schedule of budgeted cash payments for purchases for January and February. Show totais for each month and totals for January and February combined Kevin's Restaurant Supply Cash Payments for Material Purchases Budget For the Months Ended January 31 and February 28 January February Total 50% of current month DM purchases 50% of last month's DM purchases Total cash payments Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. Show totals for each month and tota's for January and February combined. 2. Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance on February 28 Requirement 1a. Prepare a schedule of budgeted cash collections for January and February. Show totals for each month and totals for January and February combined. Kevin's Restaurant Supply Cash Collections Budget For the Months Ended January 31 and February 28 January February Total Cash sales Collection on credit sales Total cash collections b. Prepare a schedule of budgeted cash payments for purchases for January and February. Show totais for each month and totals for January and February combined Kevin's Restaurant Supply Cash Payments for Material Purchases Budget For the Months Ended January 31 and February 28 January February Total 50% of current month DM purchases 50% of last month's DM purchases Total cash payments