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with the information provided, please give me answers for the Required 1, 2B, 3, & 4. please & thank you :) Required Information [The following
with the information provided, please give me answers for the Required 1, 2B, 3, & 4.
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 yeat. The company's balance sheet as of June 30th is shown below. Aechis managers have made the following additional assumptions and estimates 1. Estimated sales for July. August, September, and October will be $210,000,$230,000,$220,000, and $240,000, respectively 2. All sales are on credit and all credit sales are coliected. 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 recelvable at June 30 will be collected in July. 3. Each montr's ending imventory must equal 20% of the cost of next month's sales. The cost of goods soid is 60% of sales. The company pays for 30% of its merchandise purchases in the month of the purchase and the remoining 70% in the month following the purchase. All of the accounts payable at June 30 wil be paid in July. 4. Monthly selling and administrative expenses are always $60.000. Each month $5.000 of this total amount is depreciation expense and the remaining $55,000 relates to expenses thot are poid 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 compary does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. Requlred: 1. Prepare a schedule of expected cash collections for July. August, and Septembec. Also compute total cash callections for the quarter Ended September 30 . 2-a. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the puarter ended September 30. 2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July. August. and Septembet. Aso compute otal cash disbursements for meichandise purchases for the quarter ended September 30. 3 . Prepare an income statement for the quarter ended September 30. 3. Prepare a belance sheet as of September 30 . Required: 1. Prepare a schedule of expected cash collections for July. August, and September. Also compute total cash collections for the quarter ended September 30 . 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. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30 . 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. Prepare a schedule of expected cash collections for July, August and September. Also compute total cash collections for the quarter ended September 30. Requlred: . Prepare a schedule of expected cash collections for July. August, and September. Also compute total cash collections for the quarter ended September 30. 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. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30. 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. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30 . Required: 1. Prepare a schedule of expected cash collections for July. August, and September Also compute total cash collections for the quarter ended September 30. 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. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30. 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. Prepare an income statement for the quarter ended September 30. Requlred: 1. Prepare a schedule of expected cash collections for July. August, and September. Also compute total cash collections for the quarter ended September 30. 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. Also compute total cash disbursements for merchandise purchases for the quarter ended September 30. 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. Prepare a balance sheet as of September 30 please & thank you :)
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