HW Exercises HelpSave & Ext Submit Check my work Required Information 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 30 Assets Cash $ 23,000 Houts receivable 125,000 Inventory 69.750 Plant and equipment, het of depreciation 220x100 Totalt 1,750 Liabilities and Stockholders' quity Recounts payable 11.000 Common stock 345.000 Metained ning 69.250 total liabilities and stockholders' quity 56.150 Beech's managers have made the following additional assumptions and estimates 1 Estimated sales for July August September, and October will be $310.000 $330.000, $320.000 and $340.000, respectively 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 45% in the month of sale and 55% 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 20% of the cost of next month's sales. The cost of goods sold is 75% of sales. The company pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% 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 mon $6.000 of this total amount is depreciation expense and the remaining $52.000 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: 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 2. Prepare an income statement for the quarter ended September 30 4. Prepare a balance sheet as of September 30, Complete this question by entering your answers in the tabs below. Reyt Pou 2 28 Reg Prepare a schedule of expected cash collections for August, and September Schedule of Expected C Codocoon Qur From July From August From Dember Set cash collection Reg 2 > Exercises Checy Theronowing information appes to the questions as DOW! Beech Corporation is a merchandising company that is preparing a master budget for the third of the cender year. The company's balance sheets of June 30th is shown below Corporatio Balance Sheet $3,500 6.15 Ceah A receive Theory plant and equipment, net of depreciation Totale Les dockholdersity Accounts pelle Costock ained in Total Titles and others 101.00 Beech's managers have made the following additional assumptions and estimates 1. Estimated sales for July August September and October will be $10,000 $330.000, 5320.000 and $340,000 respectively 2. All sales are on credit and all credit sales are collected Each month's credit sales recollected in the month of sale and 55% In the month following the sale. All of the accounts receivable at June 30 will be collected in a 3. Each month's ending inventory must equal 20% of the cost of next months. The cost of goods sold is 75% of sales. The company pays for 30% of its merchandise purchases in the month of the purchase and the remaning 70% 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 $6.000 of his mount is deprecation expense and the remaining 552.000 relates to expenses that we paid in the month they are incurred 5. The company does not plan to borrow money or pay or decire dividends during the water ended September 30. The comany does not plan to issue any common stock or repurchase its own stock during the quarterende September 30 Required: 1. Prepare a schedule of expected cash collections for July August, and September 2. Prepare a merchandise purchases budget for July August, and September. Ano comune total merchandise purchases for the Quarter ended September 30, 2-6. Prepare a schedule of expected cash disbursements for merchandise purchases for by, degust, and September 3. Prepare an income statement for the quarter ended September 30 4. Prepare a balance sheet as of September 30 Complete this question by entering your answers in the tabs below 1 R2A Heo 2 Prepare a merchandise purchases tutet for Day, August, and September. Hoe om ons to the ces Help Save & Exit Submit Percises Check my work 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 sets Cash 53,000 outs receivable 126.000 Inventory 69,750 plant and equipment, et of depreciation 220.000 Total asset 19.50 Llabilities and stockholders' Equity Accounts payable 1.000 Common stock 340.000 Tetained earnings Total liabilities and stockholders equity 5.08.75 Beech's managers have made the following additional assumptions and estimates 1. Estimated sales for July August September, and October will be $310.000, 330,000 $320,000, and $340,000, respectively 2. All sales are on credit and all credit sales are collected. Each month's credit sies are collected 45% in the month of sale and 55% 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 20% of the cost of next month's Sales. The cost of goods sold is 75% of sales. The company pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70s 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 $6.000 of this total amount is depreciation expense and the remaining $52.000 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: 1. Prepare a schedule of expected cash collections for July August, and September 2. 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 Augustand September 3. Prepare an income statement for the quarter ended September 30 4. Prepare a balance sheet as of September 30 Complete this question by entering your answers in the tabs below. Rag Reg 2A R20 Red Prepare a schedule of expected cash disbursements for merchandise purchases for sex, August, and September Schedule of Cash Disbursements for Purchase Guy August Fromy purchase From purchases From September purchases Total distrements Reg 2A Re> BHW Exercises Help Save & S Check my line Towing information appwes to the questions asprayed 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 Tech Corporation Balance that Assets Cash # 33.000 Accounts receivable 126,000 Tnventory 69.750 Plant and upent, net of depreciation 220.000 Total sur 49.750 Labies and stockholdere quity Mocounts payable 581,000 Con stock 340.000 Rotated earning 69.750 Total list and stockholders equity 3.490,750 Beech's managers have made the following additional assumptions and estimates 1. Estimated sales for July August, September, and October will be $310,000, $330.000, 9320,000 and $340,000, respectively 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 45% in the month of sale and 55% 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 20% of the cost of next month's sales. The cost of goods sold is 75% of sales. The company pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% 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 $6.000 of this total amount is depreciation expense and the remaining $52.000 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: 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 Juy, August, and September 2. Prepare an income statement for the quarter ended September 30 4. Prepare a balance sheet as of September 30 Complete this question by entering your answers in the tabs below. Rey Reg 2A Res 20 Prepare an income statement for the quarter ended September 30, Beach Corporation Income Statement For the Quarter Ended Selera (R20 Reg4 > W Exercises Help Save & Exit Sub Check my war 220.00 Plant and equipment, tot depreciation Total arts Liabilities and stockholders' Equity Accounts payable Common stock Metained earning Total liabilities and stockholders' equity $81.000 36.000 69.750 $493,750 Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales for July August September, and October will be $310,000, $330,000, 5320,000 and $340,000, respectively 2. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 45% in the month of sale and 55% 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 20% of the cost of next month's sales. The cost of goods sold is 75% of sales. The company pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% 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 $6,000 of this total amount is depreciation expense and the remaining $52,000 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: 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 for the quarter ended September 30. 4. Prepare a balance sheet as of September 30 Complete this question by entering your answers in the tabs below. Regt Res 2A Reg 28 Req Reg Prepare a balance sheet as of September 30, Bench Corporation Balance sheet September Assets Tousse Liabilities and Stockholders' Equity Toutes and stockholders