Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following information to prepare the September cash budget for PTO Company. Ignore the Loan activity section of the budget. a. Beginning cash

Use the following information to prepare the September cash budget for PTO Company. Ignore the "Loan activity" section of the budget. a. Beginning cash balance, September 1, $45,000. D. Budgeted cash receipts from September sales, $258,000. c. Direct materials are purchased on credit. Purchase amounts are August (actual), $74,000; and September (budgeted), $103,000. Payments for direct materials follow: 65% in the month of purchase and 35% in the first month after purchase. 1. Budgeted cash payments for direct labor in September, $34,000. e. Budgeted depreciation expense for September, $3,400. f. Budgeted cash payment for dividends in September, $52,000. J. Budgeted cash payment for income taxes in September, $10,600. . Budgeted cash payment for loan interest in September, $1,900. PTO COMPANY Cash Budget September Beginning cash balance Total cash available Total cash payments Ending cash balance

Step by Step Solution

3.48 Rating (158 Votes )

There are 3 Steps involved in it

Step: 1

PTO MANUFACTURING COMPANY Cash Budget for Month Ended september 30 Beginning cash balance 14450... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamental Accounting Principles

Authors: John Wild, Ken Shaw, Barbara Chiappetta

22nd edition

9781259566905, 978-0-07-76328, 77862279, 1259566900, 0-07-763289-3, 978-0077862275

More Books

Students also viewed these Accounting questions