Project #5 - Enterprise Tea Master Budget

Enterprise Tea Company Budgeted Cash Payments For Inventory Purposes 4th Quarter 2021 50% Current Month 50% Last Month Total Disbursements September Purchases =$40,000 Enterprise Tea Company Pro Forma Income Statement For Qurater Ended December 31, 2021 Enterprise Tea Company Cash Budget 4th Quarter 2021 Beginning Cash Balance October November December Cash Collections Cash Available Cash Payments: Purchases of Inventory Operating Expenses Total Cash Payments Desired Ending Cash Balance Cash Excess or (Deficiency) Ending Cash Balance September Ending Cash Balance =$50,000 Desired Ending Cash Balance =$3,000 Information for Pro Forma Balance Sheet Beginning Accounts Receivable =$20,000 Ending Accounts Payable =$53,174 Equipment, net =$85,000 Common Stock =$131,376 Retained Earnings =$110,000 Enterprise Tea Company Collections Budget 4th Quarter 2021 Cash Sales October November December Total Credit Sales Total Collections Collections From Credit Sales expected to be 55% of previous month's Sales Remaining 45% will be collected at a later date September Credit Sales =$80,000 Enterprise Tea Company Payments for Operating Expenses 4th Quarter 2021 Salaries Expense Other Operating Expenses Total Expenses All Operating Expenses Expected to be paid in Cash Enterprise Tea Company Sales Budget 4th Quarter 2021 September Sales =$150,000 October Sales expected to increase by .5% November Sales expected to increase by 2% December Sales expected to increase by 4% Enterprise Tea Company Cost of Goods Sold Budget 4th Quarter 2021 Cost of Goods Sold (60%) Desired Ending Inventory Total Inventory Required Beginning Inventory Total Purchases Required Enterprise Tea Company Operating Expense Budget 4th Quarter 2021 Salaries Expense Depreciation Expense Other Operating Expenses Total Expenses Enterprise Tea Company Pro Forma Balance Sheet 31-Dec-21 Assets Cash Accounts Receivable Inventory Equipment, net Total Assets Liabilities Accounts Payable Total Liabilities Stockholders Equity Common Stock Retained Earnings Total Stockholders Equity Total Liabilities \& Stockholders Equity