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Scott's Restaurant Supply is preparing is 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 Click the icon to view the information) 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 totais for January and February combined 2 Prepare a combined cash budget no financing activity takes place, what is the budgeted cash balance on February 20? c. Prepare a schedule of budgeted cash payments for operating expenses for January and February, Show totals for each month and totals for January and February combined. Of a box is not used in the table have the box emply, do not enter a zero Round all amounts to the nearest dollar) Scott Restaurant Supply Cash Payments for Operating Expenses Budget For the Months Ended January 31 and February 28 January February Total Variable cash operating expenses: Sales commissions December Sales commissions: January Sales commissions: February Total variable cash operating expenses Fixed cash operating expenses Sales salaries: December Sales salaries: January Sales salaries: February Rent expense Enter any number in the edit fields and then continue to the next question Scott'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 disbursement (Click the icon to view the information.) 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. W no financing activity takes place, what is the budgeted cash balance on February 287 Variable cash operating expenses Sales commissions: December Sales commissions: January Sales commissions: February Total variable cash operating expenses Fred cash operating expenses Sales salaries: December Sales salaries: January Sales salaries: February Rent expense Tax expense Total food cash operating expenses Total cash payments for operating expenses Requirement 2. Prepare a combined cash budget for January and February. If no financing activity takes place, what is the budgeted cash balance on February 287 Scott's Restaurant Supply in the edit fields and then continue to the next question budgets for the first two months of the upcoming year. Here is the information about the company's upcoming cash receipts and cash disb tals for each mc More Info colle finand a. Sales are 65% cash and 35% credit. Credit sales are collected 30% in the month of sale and the remainder in the month after sale. Actual sales in December were $55,000. Schedules of budgeted sales for the two months of the upcoming year are as follows: Budgeted Sales Revenue January $58,000 February $72,000 b. Actual purchases of direct materials in December were $25,500. The company's purchases of direct materials in January are budgeted to be $23,500 and $26,000 in February. All purchases are paid 25% in the month of purchase and 75% the following month. C. Salaries and sales commissions are also paid half in the month earned and half the next month. Actual salaries were $10,000 in December. Budgeted salaries in January are $11,000 and February budgeted salaries are $12,500. Sales commissions each month are 8% of that month's sales. d. Rent expense is $2,700 per month. e. Depreciation is $2,100 per month f. Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be $13,500. g. The cash balance at the end of the prior year was $19,000 ses Print Done sh budget for Scott's Res d then continue to the next