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1. Prepare a sales budget, including a schedule of expected cash collections. 2. Prepare a direct materials budget, including a schedule of expected cash disbursements for purchases of materials. 3. Prepare a cash budget. ? - Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME Sign In Calibri 11 PH % Paste BIU Alignment Number Cells Editing Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 : for S&P Enterprises needs a cash budget for March. The following information is A B E 1 S & P Enterprises needs a cash budget for March. The following information is available. 2 3 Data January February March 4 Actual January and February and expected March sales: 5 Cash sales $ 1,600 $ 3,750 $ 5,100 6 Sales on account 25,000 30,000 40,000 7 Total Sales $ 26.600 $ 33.750 $45.100 000 15% 60% 22% 3% $10,500 $23,500 9 Accounts Receivable Collections: 10 Month of sale 11 Month following sale 12 Second month following sale 13 Uncollectible 14 15 Accounts payable for inventory purchases, March 1 balance 16 Budgeted inventory purchases in March 17 Inventory payments: 18 Month of purchase 19 Month following purchase 20 21 Total budgeted selling & administrative expenses in March 22 Budgeted selling & administrative depreciation in March 23 24 Other budgeted cach dichurcoments in March Budget Data Schedules and Cash Budget 60% 40% $12,500 $3,200 ? - 5 x Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME Sign In X Calibri 11 A Paste BIU. . % Alignment Number Conditional Format as Cell Formatting Table Styles Styles Cells Editing Clipboard Font A1 for S&P Enterprises needs a cash budget for March. The following information is A B D E $3,200 22 Budgeted selling & administrative depreciation in March 23 24 Other budgeted cash disbursements in March 25 Equipment purchases Dividends to be paid $14,000 $2,000 26 27 28 Minimum cash balance to be maintained 29 March 1 cash balance 30 March 1 outstanding borrowings 31 March 1 interest due $10,000 $11,500 $0 $0 32 33 The company has a line of credit available to bolster the cash balance as needed. 34 35 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. 36 38 39 40 37 Click the Schedules and Cash Budget tab to prepare the following: 1. Schedule of expected cash collections for March. 2. Schedule of expected cash disbursements for inventory purchases for March. 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that any interest will not be paid until the following month. 41 42 43 44 45 Budget Data Schedules and Cash Budget ... + E + 100% READY Attempt(s) Hint Show Me 1. Prepare a sales budget, including a schedule of expected cash collections. 2. Prepare a direct materials budget, including a schedule of expected cash disbursements for purchases of materials. 3. Prepare a cash budget. 6 X Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME Sign In Calibri - 11 - A % Paste BI U Cells Editing Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font A1 : fac Expected cash collections:
