Sutter, INC is a wholesaler for its only product, deluxe wireless

Return to course EBusiness Course Parquet Mar 9.20 20.00 On 2 Pasal care Monthly Cash Budget Sutter , Inc is a wholesaler for its only product deluxe wireless rechargeable electric shavers, which sell for $73 cach and 31, 2016 were gathered by the accounting department cach 6.000 Mble securities to 16.00 Acround recorde 2.170.000 netones 12.000 612.000 Operating expenses payable 196300 Accounts payable al merchande Notepayable de 1381/2016 600.000 902400 Actual sales for April and May were 30,000 and 50.000 units, respectively, Projected unit sales for June and July are 40,00 the balance in the second month following sale. Uncollectible accounts, returns, and allowances are negligible. Planned purchases should provide ending inventories equal to 30% of next month's unit sales volume. Approximately 60 Monthly operating expenses are budgeted at $8,70 per unt sold plus a fixed amount of $288,000 including depreciation Interest expense is included in operating expenses Special anticipated June transactions include the following 1. Declaration of a $60,000 cash dividend to be paid 2 weeks after the June 20 date frecord. 2. Sale of all but 540,000 of the marketable securities held on May 31 again of $18,000 is anticipated. 3. Payment of $50,000 installment on the note payable 4. Trade in of an old company plane originally costing $300,000 and now having accumulated depreciation of $200,000 at have to be financed 5. Sutter's treasurer has a policy of maintaining a minimum month-end cash balance of $40,000 and has a standing arran Prepare a cash budget for Sutter, Inc. for June 2016 Collections in June from customers From Arsales 5 462.000 x From May sales 1.000.000 Frosoles 1410.000 To collections $2952.000 x Payments on account for merchandise purchases: May 50.000 12.000 Ending into June 0.000 6.000 Return to course EBusiness Course Parquet Mar 9.20 20.00 On 2 Pasal care Monthly Cash Budget Sutter , Inc is a wholesaler for its only product deluxe wireless rechargeable electric shavers, which sell for $73 cach and 31, 2016 were gathered by the accounting department cach 6.000 Mble securities to 16.00 Acround recorde 2.170.000 netones 12.000 612.000 Operating expenses payable 196300 Accounts payable al merchande Notepayable de 1381/2016 600.000 902400 Actual sales for April and May were 30,000 and 50.000 units, respectively, Projected unit sales for June and July are 40,00 the balance in the second month following sale. Uncollectible accounts, returns, and allowances are negligible. Planned purchases should provide ending inventories equal to 30% of next month's unit sales volume. Approximately 60 Monthly operating expenses are budgeted at $8,70 per unt sold plus a fixed amount of $288,000 including depreciation Interest expense is included in operating expenses Special anticipated June transactions include the following 1. Declaration of a $60,000 cash dividend to be paid 2 weeks after the June 20 date frecord. 2. Sale of all but 540,000 of the marketable securities held on May 31 again of $18,000 is anticipated. 3. Payment of $50,000 installment on the note payable 4. Trade in of an old company plane originally costing $300,000 and now having accumulated depreciation of $200,000 at have to be financed 5. Sutter's treasurer has a policy of maintaining a minimum month-end cash balance of $40,000 and has a standing arran Prepare a cash budget for Sutter, Inc. for June 2016 Collections in June from customers From Arsales 5 462.000 x From May sales 1.000.000 Frosoles 1410.000 To collections $2952.000 x Payments on account for merchandise purchases: May 50.000 12.000 Ending into June 0.000 6.000