S&P Enterprises has provided data from the first three months of the year. The Controller has asked you to prepare the Cash Budget and the related Schedules for Expected cash collections and Payments to suppliers. Use the information included in the Excel Simulation and the Excel functions described below to complete the task Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell on the Budget Dete tab. 85 was entered, the formula would output the result from cell B5, or 1,600 in this example. Multi-Tab Cell Reference; Allows you to refer to data from another cell in a separate tab in the worksheet. When using the multi-tab cell reference, type the equal sign first, then click on the other tab and then click on the cell you want to reference. The syntax of a multi-tab cell reference looks different than a normal cell reference, since it includes the tab name surrounded by apostrophes and also an exclamation point before the cell location. From the Excel Simulation below, if in a blank cell on the Schedules and Cesh Budget tab Budget Data C7 was entered, the formula would output the result from cell C7 in the Budget Data tab, or 33,750 in this example. Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add).- (minus sign to subtrect). (esterisk sign to multiply), and/ (forward slash to divide) From the Excel Simulation below, if in a blank cell on the Budget Data tab, "-815-816 was entered, the formule would add the values from those cells and output the result, or 34,000 in this example. If using the other math symbols the result would output an appropriate answer for its function. SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below, if in a blank cell SUM(B10.811,812) was entered, the formula would output the result of adding those three separate cells, or 97% in this example. Similarly, if in a blank cell SUM(B10 B12) was entered, the formula would output the same result of adding those cells, except they are expressed as a range in the formula, and the result would be 97% in this example. 3 FILE HOME INSERT Cash Budget with Supporting Cash Collections and Disbursements Schedules-Excel 7 PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In 15 1 S & P Enterprises needs a cash budget for March. The following information is available. 2 3 Data January February March 4 Actual January and February and expected March sales: 5 Cash sales 6 Sales on account 7 Total Sales 8 9 Accounts Receivable Collections: $ 1,600 $ 3,750 $ 5,100 25,000 30,000 40,000 $ 26.600 $ 33,750 $ 45.100 10 Month of sale 15% 11 Month following sale 60% 12 Second month following sale 22% 13 Uncollectible 3% 14 15 Accounts payable for inventory purchases, March 1 balance $10,500 16 Budgeted inventory purchases in March 17 Inventory payments: $23,500 18 Month of purchase 60% 19 Month following purchase 40% 20 21 Total budgeted selling & administrative expenses in March $12,500 22 Budgeted selling & administrative depreciation in March 23 $3,200 Ch 8 Expected casn conections: 2 March cash collections 3 March collections on account: January sales 4 5 February sales 6 March sales 7 Total cash collections 68 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance 11 March purchases 12 Total cash payments 13 14 15 16 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers S & P Enterprises Cash Budget For the Month of March 21 Total cash available before current financing 22 Less disbursements: 23 24 Payments to suppliers Selling and administrative expenses Saved 5,100 Help 14 14 15 16 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers S & P Enterprises Cash Budget For the Month of March 21 Total cash available before current financing 22 Less disbursements: 23 24 Payments to suppliers Selling and administrative expenses 25 Equipment purchases 26 Dividends paid 27 Total disbursements 28 Excess (deficiency) of cash available over disbursements 29 Financing: 30 Borrowings 31 Repayments 32 Interest 33 Total financing 34 Cash balance, March 31 35