The Serene Venus Tennis Company manufactures tennis racquets.

They have projected sales for the months of May, June and July as indicated below. The company has a policy of having 3030% of next month's projected sales in ending inventory. On April 30th, the company had 1,3561,356 in inventory.

Complete the following purchases schedule for Serene Venus to help them plan their inventory purchases.

Round to nearest whole number (e.g. 1,355). Enter any units to be added as positive, any units to be subtracted with a negative sign.

Serene Venus Tennis Company
	May	June	July
Forecasted sales	4,5204,520	4,6004,600	4,7204,720
Desired ending inventory	Answer	Answer
Total units needed	Answer	Answer
Beginning inventory	Answer	Answer
Required purchases	Answer	Answer

If the purchase cost of each unit is $6262, what inventory value would be shown on the June 30th balance sheet? Answer: $Answer

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You are doing the internal cash budgeting for T.Brady Spas, a company which specializes in pedicures for athletes.

T.Brady is required by their bank to have a minimum of $10,00010,000 in their account at all time. On June 30th, their cash balance was $11,00011,000 and there was no short term loan payable. The company has a line of credit they can draw on if needed at an annual rate of 88%. Interest is due the month after the loan is incurred.

Supply purchases, wages, and fixed costs total $17,00017,000 for July and $13,00013,000 for August. Included in these amounts is $1,000 per month for amortization expense.

Complete the cash payments schedule and cash budget for July and August:

Round to nearest whole number (e.g. 1,355)

Cash Payments	July	August
Supplies, wages, fixed cost payments	$Answer	$Answer
Loan interest	Answer	Answer
Total Cash Payments:	$Answer	$Answer

Cash Budget	July	August
Cash Receipts	$11,00011,000	$19,00019,000
Cash Payments	Answer	Answer
Net Cash Flow, enter negative as "-"	Answer	Answer
Beginning Cash	Answer	Answer
Subtotal	Answer	Answer
Bank Loan, enter repayment as "-"	Answer	Answer
Ending Cash	$Answer	$Answer
Short term Loan balance	$Answer	$Answer