Scots Restaurant Supply is proporing its cash budgets for the fint two months of the upcoming year. Here is the inflormation about the company's upooming cash ieceipts and cash Gisbursemerts: (C) icick the ioon to viow the information) Requirements 1. Prepare scheoules of (a) budgeted cesh colloctons, (b) budgeted cash payments for purchases, and (c) budgeled cash payments for operating expenses. Show tobals for each month and totals for Januacy and February combined. 2. Prepare a combined cash budget if no finaneng activty tak.es place, what is the budgeled cash balance on Fabruary 28 ? Requlrement 1a. Prepare a schedje of pudgeted cash collections for January and February. Show totals for each month and totais for January and February combined. b. Propare a schedule of budgatod cast poyments for purchases for January and Febrisiry. Show totals for each month and totals for danuary and February combined. Scotrs Restaurant Supply Cash Payments for Material Purchases Budget For the Months Ended Januarv 31 and Februarv 28 : Sooths Riostaurant Supply it proparing is cash budgets for the first two months of the upcoming year. Here is the infomation about the company's upooming cash recepts and cask disbursements: (i) (Clok the lesen to view the intontration.) Requirements 1. Prepare schodules of (a) budgeted cash oolections, (b) budgeted cash payments for purchases, and (c) budgothd cash payments for operating expenses, Show bodits for each menth and tolals lor dancary and Fobruary combined. 2. Prepare a combined cass budgot. If no financing activity takes place, what is the budgetod cash balance on Fetruary 28? (1) Requirements. 2. Pricare a combined cash busget, if ne financing activity laked place, what a the budpeled cash bolance on February 25 ? felt empty, og not enter a zems. Roond al amounts to the heartht oollar) Sootrs Restaurant Supply is preparing its cash budgets for the trst two months of the upcoming year. Here is the information about the company's upcoming cash receipts and cash disbursemi (a) (click the ioon to viow the information) Requirements 1. Prepare schedules of (a) budgeted cash colections, (b) butigeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. Show totals for each month 2. Prepare a cormbined cash budget. if no financing activity takes place, what is the budgetod cash balance on February 28 ? Requilement 2. Prepare a combined cash budget for danuary and February If no financing actily takes place, what is the budgeted cash balance on February 28? rst two months of the upcoming year. Here is the information about the company's upcoming cash receipts and cash disburseme budgeted cash payments for purchases, and (c) budgeted cash payments for operating expenses. Show totals for each month a takes place, what is the budgeted cash balance on February 28? a. Sales are 75% cash and 25% credit. Credit sales are collected 30% in the month of sale and the remainder in the month after sale. Actual sales in December were $53,000. 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 $24,000 and $26,000 in February. All purchases are paid 50% in the month of purchase and 50% the following month. c. Salaries and sales commissions are also paid half in the month earned and half the next month. Actual salaries fvere $9,000 in December. Budgeted salaries in January are $10,000 and February budgeted salaries are $11,500. Sales commissions each month are 10% of that month's sales. d. Rent expense is $3,300 per month. e. Depreciation is $2,200 per month. f. Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be $11,500. g. The cash balance at the end of the prior year was $19,000