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 Assets Cash $ 76,000 Accounts receivable 137.000 Inventory 86.100 Plant and equipment, net of depreciation 230.000 Total aseta $ 523.100 Liabilities and Stockholders' Equity Accounts payable $91,000 Connon stock 312.000 Retained earnings 126,100 Total abilities and stockholders' equity $ 529,100 Beech's managers have made the following additional assumptions and estimates 1. Estimated sales for July August, September, and October will be $410.000, $430,000, $420,000, and $440,000, respectively, 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% 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 30% of the cost of next month's sales. The cost of goods sold is 70% of sales. The company pays for 40% of its merchandite purchases in the month of the purchase and the remaining 60% 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 $58.000. Each month $8.000 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 vidends 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 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 3. Prepare an income statement that computes net operating income for the quarter ended September 30 4. Prepare a balance sheet as of September 30 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg. 1 Red 2A Rea 25 Red R4 Prepare a merchandise purchases budget for July, August, and September. Altro compute total merchandise purchases for the quarter ended September 30 Merchandise Purchases Budget wy A Sep Budgeted cost of goods sold $ 297000.000 2.000 882.000 Add Desired ending merchandise inventory 60.2000 500 1600 180.5000 Total de 347200 33.CO 356.000 01.01.2000 Case Beginning merchandisitory 16.100 60.2000 SED O 205.100 Required purchases $ 261.100 200.000 28.00 S 857.500 (Regt R203 (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: teach Corporation Balance sheet June 10 Assets Cash Accounts receivable Inventory Plant and equipment, not ot depreciation $ 76,000 137,000 86,100 230.000 $ 529,100 Total assets Liabilities and stockholders' Equity Accounts payable Coomon stock Retained earnings Total liabilities and stockholder' equity 591,000 212.000 126.100 $.529,100 Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July August, September, and October will be $410,000, S430,000, $420,000, and $440,000, respectively, 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% 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 30% of the cost of next month's sales. The cost of goods sold is 70% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60%. 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 $58.000. Each month $8,000 of this total amount is depreciation expense and the remaining $50,000 relates to expenses that are pold 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 2.a. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30, 2.6. Prepare a schedule of expected cash disbursements for merchandise purchases for July August, and September 3. Prepare an income statement that computes net operating income for the quarter ended September 30 4. Prepare a balance sheet as of September 30. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Red Red 2A Reg 28 Reg Reg. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and Settember Schedule of Cash Disbursements for Pechas Joly August Quarter From accounts payable 91,000 91.000 Feon July purchases 78.390 162.770 261,100 From August purchase 9.600 O 209.720 0 200.000 From September purchases 09.040 89.00 Total cash disbursement 16330 272650 290,760 S740,740 Rega Rega > 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 Asset Cash $ 70.000 Accounts receivable 137.000 Inventory 16.100 Plant and equipment, net of depreciation 230,000 Total met $529,100 Liabilities and stockholders' quity Accounts payable $91,000 Common stock 312.000 Retained warnings 126, 100 Total liabilities and stockholder' equity 5529,100 Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July August September, and October will be $410,000, $430,000, $420,000, and $440,000, respectively 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% 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 30% of the cost of next month's sales. The cost of goods sold is 70% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% 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 558,000 Each month $8.000 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: Prepare a schedule of expected cash collections for July August, and September 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 Septembet 3. Prepare an income statement that computes net operating income for the quarter ended September 30, 4. Prepare a balance sheet as of September 30. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. R2A Reg 2 Regs Red Prepare an income statement that computer net operating income for the quarter ended September 30, Bath Corporation Income Statement For the Quarter Ended September 30 Sales 1.200.000 Cost of goods sold 842.000 Grossmag 370.000 Selling and an expenses 150.000 Nel operating loss Os 230 000 OOOOO Res20 Rand