please slove correctly because it is the second time I post this question.
Cirsh Dudqer remsinder of the manufacturing costs, 115% are expected to be pais in the month in which ther are nourred and tie bulance in lfe foloweg manth. Requireds Cameie evperdenes oune puresest binenen tas Diskeniti ash Budget. he controller of Sonoma Housewares inc, instructs you to prepare a monthly cash budget for the next three months. You are presented with the followig bi The company expects to sell about 10% of its merchandise for cash. Of sales on account, 65% are expected to be colected an the month following the sale and month. (second month following sole). Depreciation, insurance, and property tax expense represent 36,000 of the estimated monthly maniactunng conte The a, paid in September, and the annual property taxes are paid in Novembet, Of the remainder of the manufacturing costs, 85% and the balance in the following month. Current assets as of May 1 incude cash of $56,000, marketable secunties of $80,000, and accounts receivable of $171,300 ( $130,000 from Apri kaies and $41. Sales on account for March and Apri were $118,000 and $130,000, respectively. Current labtes as of May 1 hacude $13,000 af accounta paysbe incurred in App A. selling and administrative expenses are paid in cash in the penod they are incurred. An estamated income tax payment of $21,000 wal be made an lurn. Sorpma) of $6,000 is expected to be declared in June and paid in July. Management wants to maintain a muimum cash balance of 544,000 . 1. Prepare a monthly cash budget and supporting schedules for May, June, and July. Input all ampunts as postive vahiees except overal rast decreste and deficenic: Required: indicated with a minus sige. 2. The budget indicater that the mimimum cash balance be mantaned in luly. This sobabon can be contcted by andiloe biv the of the marketable secunties, if they are held for such purposes. At the end of May and lune. the cach babance wilf beknce. Cirsh Dudqer remsinder of the manufacturing costs, 115% are expected to be pais in the month in which ther are nourred and tie bulance in lfe foloweg manth. Requireds Cameie evperdenes oune puresest binenen tas Diskeniti ash Budget. he controller of Sonoma Housewares inc, instructs you to prepare a monthly cash budget for the next three months. You are presented with the followig bi The company expects to sell about 10% of its merchandise for cash. Of sales on account, 65% are expected to be colected an the month following the sale and month. (second month following sole). Depreciation, insurance, and property tax expense represent 36,000 of the estimated monthly maniactunng conte The a, paid in September, and the annual property taxes are paid in Novembet, Of the remainder of the manufacturing costs, 85% and the balance in the following month. Current assets as of May 1 incude cash of $56,000, marketable secunties of $80,000, and accounts receivable of $171,300 ( $130,000 from Apri kaies and $41. Sales on account for March and Apri were $118,000 and $130,000, respectively. Current labtes as of May 1 hacude $13,000 af accounta paysbe incurred in App A. selling and administrative expenses are paid in cash in the penod they are incurred. An estamated income tax payment of $21,000 wal be made an lurn. Sorpma) of $6,000 is expected to be declared in June and paid in July. Management wants to maintain a muimum cash balance of 544,000 . 1. Prepare a monthly cash budget and supporting schedules for May, June, and July. Input all ampunts as postive vahiees except overal rast decreste and deficenic: Required: indicated with a minus sige. 2. The budget indicater that the mimimum cash balance be mantaned in luly. This sobabon can be contcted by andiloe biv the of the marketable secunties, if they are held for such purposes. At the end of May and lune. the cach babance wilf beknce
