Required Information The following information applies to the questions displayed below. Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 30 $ 93, eee 127, see 45, eee $ 484,Bee Accounts receivable Inventory Plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Cormon stock Retained earnings Total liabilities and stockholders' equity se.ee 330, $ 484.ee Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July August September, and October will be $300,000. $320,000. $ 310,000, and $330.000, respectively. 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 45% in the month of sale and 55% in the month following the sale. All of the accounts receivable at June 30 will be collected in July 3. Each month's ending inventory must equal 15% of the cost of next month's sales. The cost of goods sold is 60% of sales. The company pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% in the month following the purchase. All of the accounts payable at June 30 will be paid in July. 4. Monthly selling and administrative expenses are always $56,000. Esch month $6,000 of this total amount is depreciation expense and the remaining $50,000 relates to expenses that are paid in the month they are incurred. 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Required: 1. Prepare a schedule of expected cash collections for July August, and September. Also compute total cash collections for the quarter ended September 30. 2-3. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30. 3. Prepare an income statement for the quarter ended September 30 4. Prepare a balance sheet as of September 30. Complete this question by entering your answers in the tabs below. Reg1 Reg 2 Rey 2B Req3 Reg 4 Prepare a schedule of expected cash collections for July, August, and September. Also compute total cash collections for the quarter ended September 30. Schedule of Expected Cash Collections Month July August September Quarter From July sales From August sales From September sales Total cash collections S ol S ol S ol Required Information The following information applies to the questions displayed below.] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet os of June 30th is shown below: Beech Corporation Balance Sheet June 3e Assets Accounts receivable $ 93, see 127, 45.eae 219.ee $ 484.ee plant and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 30,00 33e.ee $ 484, eee Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July August September, and October will be $300,000, $320,000, $310,000, and $330.000, respectively. 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 45% in the month of sale and 55% in the month following the sole. All of the accounts receivable at June 30 will be collected in July. 3. Each month's ending inventory must equal 15% of the cost of next month's sales. The cost of goods sold is 60% of sales. The company pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% in the month following the purchase. All of the accounts payable at June 30 will be paid in July 4. Monthly selling and administrative expenses are always $56,000. Each month $6,000 of this total amount is depreciation expense and the remaining $50,000 relates to expenses that are paid in the month they are incurred. 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Required: 1. Prepare a schedule of expected cash collections for July August, and September. Also compute total cosh collections for the quarter ended September 30. 2-0. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30 3. Prepare an income statement for the quarter ended September 30. 4. Prepare a balance sheet os of September 30. Complete this question by entering your answers in the tabs below. Reg 1 Red 2A Rey 2B Req3 Red 4 Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. Merchandise Purchases Budget July August September Quarter Total needs Required purchases ( Req1 Req 2B > Required Information The following information applies to the questions displayed below. Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet Accounts receivable $ 93,eee 127, eae 45.ee 219, $ 484, plant and equipment, net of depreciation Total assets Liabilities and Stockholders Equity Accounts payable Cormon stock Retained earnings Total liabilities and stockholders' cquity $ 3e.eee 330, Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July August, September, and October will be $300,000. $320,000. $ 310,000, and $330.000, respectively. 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 45% in the month of sale and 55% in the month following the sale. All of the accounts receivable at June 30 will be collected in July 3. Each month's ending inventory must equal 15% of the cost of next month's sales. The cost of goods sold is 60% of sales. The company pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% in the month following the purchase. All of the accounts payable at June 30 will be paid in July 4. Monthly selling and administrative expenses are always $56,000. Esch month $6,000 of this total amount is depreciation expense and the remaining $50,000 relates to expenses that are paid in the month they are incurred. 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Required: 1. Prepare a schedule of expected cash collections for July August, and September. Also compute total cash collections for the quarter ended September 30. 2-0. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30. 3. Prepare an income statement for the quarter ended September 30 4. Prepare a balance sheet as of September 30. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 2B Reg 3 Reg 4 Prepare a schedule of expected cash disbursements for merchandise purchases for July August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30. Schedule of Cash Disbursements for Purchase July August September Quarter From July purchases From August purchases From September purchases Total cash disbursements S OSOS S O ( Req2A Reqs > Required Information The following information applies to the questions displayed below. Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: Beech Corporation Balance Sheet June 38 Assets $93 127,280 45.ee 219, eae $494.ee Accounts receivable Inventory Plant and equipment, not of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity 330, Bee 74,888 $ 484,200 Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July, August September, and October will be $300,000. $320,000. $310,000, and $330,000, respectively. 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 45% in the month of sale and 55% in the month following the sole. All of the accounts receivable at June 30 will be collected in July. 3. Esch month's ending inventory must equal 15% of the cost of next month's sales. The cost of goods sold is 60% of sales. The company pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% in the month following the purchase. All of the accounts payable at June 30 will be paid in July 4. Monthly selling and administrative expenses are always $56,000. Esch month $6,000 of this total amount is depreciation expense and the remaining $50,000 relates to expenses that are paid in the month they are incurred. 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Required: 1. Prepare a schedule of expected cash collections for July August, and September. Also compute total cash collections for the quarter ended September 30. 2-0. Prepare o merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30. 3. Prepare an income statement for the quarter ended September 30. 4. Prepare a balance sheet os of September 30. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 2B Req3 Req4 Prepare an income statement for the quarter ended September 30. Beech Corporation Income Statement For the Quarter Ended September 30 Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July, August September, and October will be $300,000. $320,000, $310,000, and $330,000, respectively. 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 45% in the month of sale and 55% in the month following the sale. All of the accounts receivable at June 30 will be collected in July 3. Each month's ending inventory must equal 15% of the cost of next month's soles. The cost of goods sold is 60% of sales. The company pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% in the month following the purchase. All of the accounts payable at June 30 will be paid in July 4. Monthly selling and administrative expenses are always $56,000. Esch month $6,000 of this total amount is depreciation expense and the remaining $50,000 relates to expenses that are paid in the month they are incurred. 5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Required: 1. Prepare a schedule of expected cash collections for July August, and September. Also compute total cash collections for the quarter ended September 30. 2-0. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30. 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30. 3. Prepare an income statement for the quarter ended September 30. 4. Prepare a balance sheet as of September 30. Complete this question by entering your answers in the tabs below. Reg 1 Red 2A Rey 2B Reg3 Reg 4 Prepare a balance sheet as of September 30. Beech Corporation Balance Sheet September 30 Assets Toilet Llabilities and Stockholders' Equity Total liabilities and stockholders' equity S o (Reqs