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Please help asap will rate good! I need the formula (ex: A1+A2) S&P Enterprises needs a cash budget for March. The following information is available.
Please help asap will rate good!
I need the formula (ex: A1+A2)
S\&P Enterprises needs a cash budget for March. The following information is available. \begin{tabular}{l|r|r|r|} \hline \multicolumn{1}{|c|}{ Data } & January & February & March \\ \hline Actual January and February and expected March sales: & & \\ \hline Cash sales & $1,600 & $3,750 & $5,100 \\ \hline Sales on account & 25,000 & 30,000 & 40,000 \\ \hline Total Sales & $26,600 & $33,750 & $45,100 \\ \hline \hline \end{tabular} Accounts Receivable Collections: Month of sale Month following sale Second month following sale Uncollectible Accounts payable for inventory purchases, March 1 balance $10,500 Budgeted inventory purchases in March $23,500 Inventory payments: Month of purchase 60% Month following purchase 40% Total budgeted selling \& administrative expenses in March (including depreciation) Budgeted depreciation in March (included in total selling and admin exp) $12,500 $3,200 Other budgeted cash disbursements in March Equipment purchases Dividends to be paid $14,000 $2,000 Minimum cash balance to be maintained $10,000 $11,500 $0 $0 The company has a line of credit available to bolster the cash balance as needed. When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. The company has a line of credit available to bolster the cash balance as needed. When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. Required: Click the Schedules and Cash Budget tab to prepare the following: 1. Schedule of expected cash collections for March. 2. Schedule of expected cash disbursements for inventory purchases for March. 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that any interest will not be paid until the following month. (Use cells A4 to D7 and A10 to B30 from the given information, as well as A3 to C34 from the Schedules and Cash Budget to complete this question.)Step by Step Solution
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