Question
You are the accountant at Wesleyan Technology Company (WTC) in the Fall of 2020. Your boss, the controller, has asked you to take another pass
You are the accountant at Wesleyan Technology Company (WTC) in the Fall of 2020. Your boss, the controller, has asked you to take another pass at the 3rd Quarter Budget for 2021 as she is not sure the numbers are correct. She sends you the attached Excel file, providing the necessary information to construct the budget from scratch. Your job is to take the information provided on the Info tab in Excel file and put together the Budget for 3Q, 2021 on the Input tab. Please show the answer with formula. does not allow to post entire question and data.
Construct Selling and Administrative Expense Budget
Construct Cash Budget
Budgeted Income Statement
Construct Budgeted Income Statement
| Construct Cash Budget | ||||
| Quarter 3, 2021 | ||||
| July | August | September | Total | |
| Beginning Cash Balance | ||||
| Add: Cash collections | ||||
| Total cash available | ||||
| Less: Cash disbursements | ||||
| Materials | ||||
| Direct labor | ||||
| Manufacturing O/H | ||||
| Selling and Admin | ||||
| Equipment purchase | ||||
| Dividend | ||||
| Total disbursements | ||||
| Excess (Deficiency) | ||||
| Financing: | ||||
| Borrowing (inflow) | ||||
| Repayments (outflow) | ||||
| Interest (outflow) | ||||
| Total financing | ||||
| Ending Cash Balance | ||||
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Corporate Finance Core Principles and Applications
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford
3rd edition
978-0077971304, 77971302, 978-0073530680, 73530689, 978-0071221160, 71221166, 978-0077905200
