Required Prepare a schedule of expected cash collections for July, August, and September. Also compute total cash collections for the quarter ended September 30. 2-a. 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 dsbursements 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. 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 From July sales From Auguat sae From Septenber sales Total cash collections Req 2A EX8-13 Required information The fowowing information applies to the questions displayed below Beech Corporation is a merchandising company that is preparing a master budget for the thind quarter of the calendar 10 points year. The company's balance sheet as of June 30th is shown below une 30 75,000 Plant and equipnent, net of depreciation 500,50D Liabilities and Stockholders Equiey hocounte payable 88, 000 311,ooD Total 1iabilities and steekholders egaity 508,500 Beech's managers have made the folowing additional assumptions and estimates: 1 Estimated sales for July, August, September and October will be $380,000, $400,000, $390,00D, and $410,000, 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 wil 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 70% 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 pald in July Monthly selling and administrative expenses are always $52,000. Each month $7000 of this totl amount is depreciation expense and the remaining $45,000 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-a. 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 totall 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. 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-a. 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 Req 1 Req 2AReq 28 Req 3 Req 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 Req 1 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-a. 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 Req 1 Req 2A Req 28 Req 3 Req 4 Prepare an income statement for the quarter ended September 30 Beech Corporation Income Statement For the Quarter Ended September 30 Req 28 Req4 > 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-a. 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 i n the tabs below. Req i Req 2A Req 2B Req 3 Req 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 for Purchases July August September Quarter From July purchases From August purchases From September purchases Total cash disbursoments Complete this question by entering your answers in the tabs below Req 1 Req 2A Req 28 Req 3 Req 4 Prepare a balance sheet as of September 30. Beech Corporation Balance Sheet September 30 Assets Total assets Liabilities and Stockholders' Equity Total liabilities and stockholders' equity K Req 3 Req 4