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Please answer itI will due it shortly Please Please Please Background information: Rosie owns and operates Sunshine Berries, which sells a variety of berries and

Please answer itI will due it shortly
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Background information: Rosie owns and operates Sunshine Berries, which sells a variety of berries and other summer fruits. Rosie is unsure why the business is not doing as well as she thought it would, especially given recent growth in sales. Her accountant suggested that she start preparing cash budgets for the business. Rosie has compiled the following figures: Apr Sales Purchases Wages Selling expenses Depreciation $35,750 17,875 6,000 3,600 750 2022 Estimates May Jun $41,250 $42,900 20,625 21,450 6,000 6,000 3,600 3,600 750 Jul $42,900 21,450 6,000 2,600 750 750 Additional information: The bank balance at March 31, 2022 is expected to be $3,000. All customers are given 30-day credit terms, however 60 per cent choose to pay cash. Past experience shows that debtors usually settle their accounts according to the following pattern: 80 per cent in the month following the sale 15 per cent in the second month following the sale 5 per cent in the third month following the sale Actual sales figures for 2022 are as follows: January: $32,450 February: $33,000 March: $30,800 Seventy (70) per cent of the purchases of the berries and fruit are paid for in the month of purchase, with the remainder paid for in the following month. Purchases in March 2022 are $15,400. Annual insurance expense of $4,800 for the 12-month period from January to December 2022 was paid in January 2022. The monthly insurance amount is included in the selling expenses figure above. New office equipment will be purchased in April for $7,200 and will be paid for in May. Interest of $1,200 is charged at the end of each quarter for the existing loan and paid in the first month of the following quarter. Principal repayments are $6,500 per month. Additional cash can be borrowed from the bank monthly at an interest rate of 9.00 per cent per annum. Interest is charged monthly in the month following the borrowing. 7. Using the Cash Budget Template (MS Excel) provided in Module 3, prepare a summary cash budget for Sunshine Berries for the April - June 2022 quarter. Include a copy of the summary cash budget in your document containing your written assignment answers. (9 marks) Background information: Rosie owns and operates Sunshine Berries, which sells a variety of berries and other summer fruits. Rosie is unsure why the business is not doing as well as she thought it would, especially given recent growth in sales. Her accountant suggested that she start preparing cash budgets for the business. Rosie has compiled the following figures: Apr Sales Purchases Wages Selling expenses Depreciation $35,750 17,875 6,000 3,600 750 2022 Estimates May Jun $41,250 $42,900 20,625 21,450 6,000 6,000 3,600 3,600 750 Jul $42,900 21,450 6,000 2,600 750 750 Additional information: The bank balance at March 31, 2022 is expected to be $3,000. All customers are given 30-day credit terms, however 60 per cent choose to pay cash. Past experience shows that debtors usually settle their accounts according to the following pattern: 80 per cent in the month following the sale 15 per cent in the second month following the sale 5 per cent in the third month following the sale Actual sales figures for 2022 are as follows: January: $32,450 February: $33,000 March: $30,800 Seventy (70) per cent of the purchases of the berries and fruit are paid for in the month of purchase, with the remainder paid for in the following month. Purchases in March 2022 are $15,400. Annual insurance expense of $4,800 for the 12-month period from January to December 2022 was paid in January 2022. The monthly insurance amount is included in the selling expenses figure above. New office equipment will be purchased in April for $7,200 and will be paid for in May. Interest of $1,200 is charged at the end of each quarter for the existing loan and paid in the first month of the following quarter. Principal repayments are $6,500 per month. Additional cash can be borrowed from the bank monthly at an interest rate of 9.00 per cent per annum. Interest is charged monthly in the month following the borrowing. 7. Using the Cash Budget Template (MS Excel) provided in Module 3, prepare a summary cash budget for Sunshine Berries for the April - June 2022 quarter. Include a copy of the summary cash budget in your document containing your written assignment answers. (9 marks)

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