var's Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year. Here is the information about the compus upcoming cash receipts and cash disbursements (Click the icon to view the information) Requirements 1 Prepare schedules of budgeted cash collections, buted cash payment for purchases and budgeted cash payments for expenses Show totalt Show totais for each month and total for January and February 2. Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance on February 287 Requirement la Prepare a schedule of budgeted cash collections for Jawy and February, Show totals for each month and totals for January and February.combined Evan's Restaurant Supply Cash Collections Budget For the Months Ende January and February 28 Total cash collections Ceny number the sand then con 1124 acer Evan's Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year. Here is the information about the company's upcoming cash receipts and cash disbursements Click the icon to view the information) Requirements 1. Prepare schedules of (a) budgeted cash collections, buted cash payments for purchases, and (c) budgeted cash payments for operating expenses Show toals for each month and totals for January and Pray combed 2. Prepare a combined cash budget. If no financing activity takes place, what is the budged cash balance on February 287 b. Prepare a schedule of budgeted cash payments for purchases for Jay and February Show toals for each month and totals for Januvy and February combined Evan's Restaurant Supply Cash Payments for Material Purchase Budget For the Month January 31 dobruary 28 January February To 30% of current moeth DM purchases 70% of last months om purchases. acer of Evan's Restaurant Supply is preparing its cash budgets for the first two months of the upcoming year. Here is the infor (Click the icon to view the information.) Requirements 1. Prepare schedules of (a) budgeted cash collections, (b) budgeted cash payments for purchases, and (c) budget 2. Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance on Feb PURWONE CIJ January February Total Variable cash operating expenses Sales commissions: December Sales commissions January Sales commissions: February Total variable cash operating expenses Fixed cash operating expenses Sales salaries December Sales salaries January Sales salaries: February Rent expense Tax expense Total red cash operating expenses Total cash payments for operating expenses Enter any number in the edit fields and then continue to the best question ace 1. Prepare schedules Uld) LUULLUT 2. Prepare a combined cash budget. If no financing activity takes place, what is the budgeted cash balance on Total cash payments for operating expenses Requirement 2. Prepare a combined cash budget for January and February. If no financing activity takes place, what DES2 months Evan's Restaurant Supply Combined Cash Budget For the Months Ended January 31 and February 28 January February Beginning cash balance Plus: Cash collections from customers Total cash available Less cash payments Direct materials purchases Operating expenses Total cash payments Ending cash balance Enter any number in the edit fields and then continue to the next question M ace # 2 $ % m More Info a. Sales are 60% cash and 40% credit. Credit sales are collected 20% in the month of sale and the remainder in the month after sale. Actual sales in December were $51,000. Schedules of budgeted sales for the two months of the upcoming year are as follows: Budgeted Sales Revenue January... $61,000 February $72,000 b. Actual purchases of direct materials in December were $25.500. The company's purchases of direct materials in January are budgeted to be $20,000 and $26.000 in February. All purchases are paid 30% in the month of purchase and 70% the following month. c. Salaries and sales commissions are also paid half in the month earned and half the next month Actual salaries were $9,500 in December Budgeted salaries in January are $10.500 and February budgeted salaries are $12,000. Sales commissions each month are 10% of that month's sales. d. Rent expense is $2,800 per month e. Depreciation is $2,700 per month 1. Estimated income tax payments are made at the end of January. The estimated tax payment is projected to be $14,000. g. The cash balance at the end of the prior year was $23,000 Print Done hen 9 ME