Pink Martini Corporation is projecting a cash balance of $33,000in its December 31, 2019, balance sheet. Pink Martini's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $179,000. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $37,000. Other information gathered for the first quarter of 2020 is as follows: sale of equipment $2,000; direct labour $77,000, manufacturing overhead $34,000; selling and administrative expenses $43,000; and purchase of securities $14,000. Pink Martini wants to maintain a balance of at least $27,000cash at the end of each quarter.

Prepare cash budget for the first quarter.

need with in one hour

This webpage is using 0 01:28 FINAL EXAM - / 10 Question 27 of 28 View Policies Current Attempt in Progress Pink Martini Corporation is projecting a cash balance of $33,000 in its December 31, 2019, balance sheet. Pink Martini's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $179,000. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $37,000. Other information gathered for the first quarter of 2020 is as follows: sale of equipment $2,000; direct labour $77,000, manufacturing overhead $34,000; selling and administrative expenses $43,000; and purchase of securities $ 14,000. Pink Martini wants to maintain a balance of at least $27,000 cash at the end of each quarter. Prepare a cash budget for the first quarter. PINK MARTINI CORPORATION Cash Budget For the First Quarter Ending March 31, 2020 Beginning Cash Balance Add 4: Cash Receipts Collection From Customers Sale Of Equipment Total Available Cash 26,284 DEC 2 15 MacB esc F1 F2 20 F3 F4 F5 @ # $ % A 2 3 4 5 6 tab Q W E R T aps lock A S D F G Z X C V alt