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please help solve all requirements:) B. (Cicke the icon tib view the intormation.) Requirements 1. Prepare schedules of (a) budgeted cash collections, (b) budgeled cash
please help solve all requirements:)
B. (Cicke the icon tib view the intormation.) Requirements 1. Prepare schedules of (a) budgeted cash collections, (b) budgeled cash paymonts for purchases, and (c) budgeted cash papments for operating expensek. Show lotah for each manth aris . totals for danuary and February combined. 2. Propare a combined cash budget. If no financing activity takes place, whit is the budgeted eash baiance on February 28 ? Requirement 1a. Prepore a schedule of budgeted cash colnctions for January and Fethary. Show fotais for oach month and toeais for Januly ane Fetruary combined. More info a. Sales are 70% cash and 30% credit Credit sales are collected 20% in the month of sale and the remainder in the month after sale. Actual sales in December were $57,000, Schedules of budgeted sales for the two months of the upcoming year are as follows: b. Actual purchases of direct materials in December were $24,500. The company's purchases of direct materials in January are budgeted to be $22,000 and $26,500 in February. All purchases are paid 40% in the month of purchase and 60% the following month. c. Salaries and sales commissions are also paid half in the month eamed and half the next month. Actual salaries were $7,500 in December. Budgeted salaries in January are $8,500 and February budgoted salaries are $10,000. Sales commissions each month are 15% of that month's salen. d. Rent expense is $3,300 per month. e. Depreciation is $2,900 per month. f. Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be $12,000. 9. The cash balance at the end of the prior year was $23,000. Prepare a schedule of budgeted cash payments for operating expenses for January and February. Show totals for each month and totals for Janciary and Febn Prepare a schedule of budgeted cash payments for operating expentes for Jariuary ain in the neamet anliar I b. Prepare a schedule of budgoted cash payments for purchases for January and Fobruary Show fotals for each month and tatals for Jantiary and February combineit Brian's Restaurant supply Cesh Payments for Material Purchases Budget c. Prepare ased in the iable, leave the irput field emply; do not enter a zero. Round all amsounts to the neatest dellar.) c. Prepare a schodule of budgeted cash payments for operating expenses for January and Februacy. Show totals for each monith and totals for Jltruary and February cembieted. Fit an inp:t fold it not used in the tabie, losve the input field empty; do not enter a zero. Round at amounts to the neareat dollar.) Brian Restaurant Supply Cash Payments for Operating Expenses Budget Requirement 2. Propare a combieed cash budget for Jaruary and Fooruary, it no financing actilly takes place, what is the budgeded cash balance on Fobriary 28 ? Arian's Rentauarant Subnte requirement 2. Prepare a combined cash budget for danuary and Februacy. If no financing acewity takes place, what is the budpethd casit balance on Futruany 2a? Brian's Restaurant supply Step by Step Solution
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