Using Excel, i need to make a personal budget of your expected monthly revenues and expenses,
with any cash carry forwards.The budget period is from May 2020 until December 31, 2020.
Use the cash budget format found in your chapter on budgeting. All information I have is in pictures below
DIVIDENDS Like many corporations, Tucson Tortilla pays dividends to its shareholders on a quarterly basis. Tucson Tortilla plans to pay $25,000 in cash dividends in January for the company's earnings in the fourth quarter of the previous year. in Exhibit 9-15. Finally, we pull all of these cash payments together onto a single budget, as shown Rent is 1700 a month on the 1st Starting May 1 EXHIBIT 9-15 Cash Payments Budget Need a new couch 900 102 Need a mattress 1200 Tucson Tortilla D Bought a new TV for 1800$ that depreciates at 100$ a month 2 3 Cash Payments Budget 4 For the Quarter Ended March 31 Needed movers to help me move into my house May 4th that cost 1000$ 5 Month January February March Got a job and make 250 a month starting in May 1 -Sep 1 6 Cash payments for direct materials purchases $ 231,845 $ 211,125 $ 157,650 $ 600,620 1st Quarter Cash payments for direct labor 31,900 22,550 Get allowance from parents 400$ at the end of every month 8 Cash payments for manufacturing overhead 28,270 9 Cash payments for operating expenses 107,500 68,250 81,250 82,720 02 10 Cash payments for capital investments 132,000 125,000 97,000 114,500 257,000 343,500 Books for school 1500$ in July and 1000$ in August 11 Cash payments for income taxes 125,000 Depreciation on car is 1000$ every thousand miles driven and in June I drove 150 12 Cash payments for dividends 13 Total cash payments 25,000 of o o 25,000 miles, July I drove 500 and August I drove 1000 miles 14 653,245 $ 398,925 $ 381,670 $ 1,433,840 Tuition is 28,000 due July 20, but August 3rd they refund us 8,000$. 3 birthdays in September mean gifts totaling 500$ IMG_6219.jpeg 1 Birthday present in October for 100$ + Q Search Its my birthday in November and I get 1600$ from parents Borrowed 100$ from a friend 2! T Ev O O Av Christmas gifts are purchased mid December for 1000$ EXHIBIT 9-17 Budgeted Balance Sheet Receive 5000$ for Christmas IMG_6220.jpeg A B Tucson Tortilla Q Search 3 Budgeted Balance Sheet January 31 CO T A EVO O Av 4 Assets: Cash, from cash budget $ 15,055 B C 6 Accounts receivable, net of allowanceA 49,450 Tucson Tortilla Raw materials inventory, from DM budget (10,250 pounds x $1.50 per pound) 15,375 Combined Cash Budget 8 Finished goods inventory, from production budget (2,000 cases x $12.00 per case) 24,000 For the Quarter Ended March 31 9 Prepaid property taxes and insuranceB 15,000 Month 10 Total current assets 618,880 January February March 1st Quarter 11 Property, plant, and equipment, net of $1,920,000 of accumulated depreciation 4,430,000 Beginning cash balance $ 36,100 $ 15,055 $ 153,980 $ 36,100 12 Total assets $ 5,048,880 7 Plus: Cash collections (Exhibit 9-14) 612,200 558,000 439,200 1,609,400 13 8 Total cash available 648,300 573,055 14 Liabilities and Stockholders Equity: 9 Less: Cash payments (Exhibit 9-15) 653,245 398,925 593,180 1,645,500 15 Accounts payableE S 211,125 34,020 10 Ending cash balance before financing 381,670 1,433,840 $ (4,945) $ 174,130 $ 211,510 $ 211,660 16 Income tax liability, from Income Statement Budget 20,000 11 Financing: 17 Other current liabilities (line of credit, from combined cash budget) 265,145 12 Plus: New borrowings 20,000 18 Total current liabilities 13 0 4,783,735 Less: Debt repayments 14 0 20,000 20,000 Less: Interest payments 0 150 0 20,000 19 Stockholders equity 20 Total liabilities and stockholders equity S 5,048,880 15.0551 150 21
