Part $2$

Horses Company projected the following January $31$ balance sheet:

Required: Use cell referencing of information above to calculate the following and make sure you label calculations, so I can follow your end results.

What were January budgeted sales?

What will be the budgeted cash collection for February?

What will the Merchandise Inventory balance for February $28?$

What will be the budgeted net income for February?

What will the budgeted balance in retained earning account at February $28?$

What will be the cash available at February $28?$

Solution:

What will be the budgeted cash collection for February?

What will the Merchandise Inventory balance for February $28?$

What will be the budgeted net income for February?

What will the budgeted balance in retained earning account at February $28?$

What will be the cash available at February $28?$