BasaulaBigyan1174967

xlsx

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Fanshawe College *

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Course

1031

Subject

Accounting

Date

Apr 3, 2024

Type

xlsx

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32

Uploaded by SuperHumanOstrichMaster911

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Do the work IN THIS ORDER !!! Marks 1) Do income statements for 2023 6 2) Do Balance Sheets for 2023 6 3) Do a pro forma Income Statement for 2024 8 4) Do a pro forma Balance Sheet for 2024 8 5) Do Cash Flow Statement for 2023 10 6) Do ratios for 2022 2023 10 7) Do pro forma Ratios for 2024 5 8) Do a pro forma cash budget for 2024 18 9) Do breakeven questions for 2023 2024 8 10) Do the theory problem below 20 Total 99 Theory Problems - to be answered on the Breakeven and Theory worksheet. 1) The cash budget shows some negative balances. How would you avoid this? 4 marks 2) Based on the ratios and common size calculations compare how Fanshawe Furniture is doing compared to the benchmark. Is it doing better or worse ? Be specific. This is worth 16 marks which means you should be comparing 8 sets of numbers and explaining why the numbers are different and whether they are better or worse.
BasaulaBigyan1174967
2023 Data BasaulaBigyan1174967 2023 Accounts payable $ 1,051,007 Accounts receivable $ 488,424 Depreciation expense $ 38,000 Beginning Inventory $ 760,000 Cash $ 201,624 Common stock $ 100,000 Ending Inventory $ 1,034,956 Freight In $ 39,660 Interest expense $ 63,401 GIC's $ 300,000 Mortgage payable $ 911,115 Net Purchases $ 3,040,127 Net Sales $ 4,695,790 Notes payable $ 200,000 Prepaid expenses $ 42,089 Plant and Equipment $ 3,900,000 Salaries $ 434,470 Utilities $ 45,989 Insurance $ 24,049 Transport $ 20,696 Repairs & Maintenance $ 20,258 Advertising $ 26,812 Misc. Expense $ 49,703 Direct Wages and Expenses $ 765,500 Comon Stock Dividends $ 50,000 18303671.048 1174967 2022 BasaulaBigyan1174967
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Other Info 2023 2022 2024 Common Stock 400000 shares 400000 shares 400000 shares Notes Payable current Sales on Credit 90% percent of net sales Share Price 2022 $ 1.60 per share Share Prices based on accounting department's esti Share Price 2023 $ 2.75 per share The directors have decided that no new shares will be issued/sold in 2024 Tax rate 40% Of Net Income Taxes on the year's profits are paid in December Depreciation Expense 4% declining balance
imates.
Accounts payable 1051007 Accounts receivable 488424 Depreciation expense 38000 Beginning Inventory 760000 Cash 201624 Common stock 100000 Ending Inventory 1034956 Freight In 39660 Interest expense 63401 GIC's 300000 Mortgage payable 911115 Net Purchases 3040127 Net Sales 4695790 Notes payable 200000 Prepaid expenses 42089 Plant and Equipment 3900000 Salaries 434469.92 Utilities 45989.3 Insurance 24049.28 Transport 20696.36 Repairs & Maintenance 20257.66 Advertising 26812.34 Misc. Expense 49703.26 Direct Wages and Expenses 765500 Comon Stock Dividends 50000 18303671 1174967 2022 BasaulaBigyan1174967
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2024 Projected Data Net Sales 2% increase Direct Wages & Expenses 5% increase Salaries 1.00% increase Utilities 2.50% increase Insurance 2.00% increase Transport 2.00% increase Repairs & Maintenance 2.00% increase Advertising $ 4,000 decrease Misc 1.00% decrease Freight-in 8.00% increase Net Purchases 5% increase Common Stock Dividends $ 20,000 increase Depreciation Expense 4.00% declining balance Capital purchases $ 30,000 new roof in June to be added to p Cash to be calculated on balance sheet GIC's Same as 2023 Accounts receivable 6% increase Ending Inventory 1175000 Prepaid expenses Same as 2023 Accounts payable 1114000 Notes payable Same as 2023 Income Tax on Profits 40% Annual Interest on Note Payable 8% paid quarterly on the balance at t Quarterly = March, June, September, Decem All increases effective Jan 1 2024 GIC's, Prepaids, and Notes payable need not be accounted for in cash budget For the Cash Budget: A/P and A/R payments are calculated as per bottom left of Cash Budget 20 per cent of your sales come in each of the following months: August, Septe 8% of sales are in November. For the rest of the year, the sales are divided eve Direct wages & expenses fluctuate in the same proportion as your sales, in the Your purchases and freight in fluctuate in the same proportion as your sales, B Remember: The numbers you use will be unique to you based on your student Dividends are paid in December, Income tax is paid in December. Unless otherwise indicated, operating expenses are the same each month.
Mortgage payments for the year: 2023 2024 2025 Interest Interest Interest 4,499.65 1,989.21 4,378.51 2,110.35 4,250.79 2,238.07 4,489.83 1,999.03 4,368.09 2,120.77 4,240.11 2,248.75 4,479.96 2,008.90 4,357.61 2,131.25 4,229.43 2,259.43 4,470.04 2,018.82 4,347.09 2,141.77 4,218.74 2,270.12 4,460.06 2,028.80 4,336.51 2,152.35 4,208.06 2,280.80 4,450.05 2,038.81 4,325.88 2,162.98 4,197.38 2,291.48 4,439.98 2,048.88 4,315.20 2,173.66 4,186.70 2,302.16 4,429.86 2,059.00 4,304.46 2,184.40 4,176.01 2,312.85 4,419.69 2,069.17 4,293.68 2,195.18 4,165.33 2,323.53 4,409.47 2,079.39 4,282.84 2,206.02 4,154.65 2,334.21 4,399.20 2,089.66 4,271.94 2,216.92 4,143.96 2,344.90 4,388.88 2,099.98 4,260.99 2,227.87 4,133.28 2,355.58 plant & equipment 53,336.67 24,529.65 51,842.80 26,023.52 50,304.45 27,561.87 the beginning of the year (ie on last year's closing balance) mber ember, October enly among the months e same month as the sales BUT one month before. t number ! Principa l Principa l Principa l
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1174967 Fanshawe Furniture Manufacturin Comparative Income Statement 2023 2022 1174967 Net Sales $ 4,695,790 $ 4,321,090 Less: Cost of Sales $ 3,570,331 76.0% $ 3,238,881 75.0% Gross profit $ 1,125,459 24.0% $ 1,082,209 25.0% Salaries $ 434,470 9.3% $ 562,752 13.0% Utilities $ 45,989 10.6% $ 19,805 0.5% Insurance $ 24,049 0.5% $ 22,688 0.5% Transport $ 20,696 0.4% $ 19,506 0.5% Repairs & Maintenance $ 20,258 0.4% $ 19,111 0.4% Advertising $ 26,812 0.6% $ 26,267 0.6% Misc. Expense $ 49,703 1.1% $ 46,871 1.1% Depreciation Expense $ 38,000 0.8% $ 50,000 1.2% Total Operating Expenses: $ 659,978 14.1% $ 767,000 17.8% Operating profit (EBIT) $ 465,481 9.9% $ 315,209 7.3% Interest expense $ 63,401 1.4% $ 65,954 1.5% Earnings before taxes $ 402,080 8.6% $ 249,255 5.8% Income Tax $ 160,832 40.0% $ 99,702 2.3% Earnings After Taxes $ 241,248 5.1% $ 149,553 3.5% Common stock dividends $ 50,000 1.1% $ 40,000 0.9% Change in Retained Earnings $ 191,248 4.1% $ 109,553 2.5% 1174967 ### Cost of Sales Calculation 1174967 ### 2023 2022 Beginning Inventory $ 760,000 16.2% $ 625,000 14.5% Net Purchases $ 3,040,127 64.7% $ 2,305,267 53.3% Freight In $ 39,660 0.8% $ 33,114 0.8% Direct Wages & Expenses $ 765,500 16.3% $ 1,035,500 24.0% Cost of Goods Available for Sale $ 4,605,287 98.1% $ 3,998,881 92.5% Ending Inventory $ 1,034,956 22.0% $ 760,000 17.6% Cost of Sales $ 3,570,331 76.0% $ 3,238,881 75.0% Common Shares Outstanding 400,000 400,000
ng ts 2024 $ 4,789,706 $ 3,898,697 81.40% $ 891,009 18.60% $ 438,815 $ 47,139 $ 24,530 $ 21,110 $ 20,663 $ 22,812 $ 49,206 $ 36,480 $ 660,756 $ 230,253 $ 67,843 $ 162,410 $ 64,333 $ 98,077 $ 70,000 $ 28,077 2024 $ 1,034,956 $ 3,192,133 $ 42,833 $ 803,775 $ 5,073,697 $ 1,175,000 $ 3,898,697 400,000
Fanshawe Furniture Manufacturing Comparative Balance Sheets 1174967 2023 2022 2024 Current Assets 1174967 Cash $ 201,624 7% $ 235,000 9.1% 113,381 GIC's $ 300,000 10% $ 250,000 9.63% 300,000 Accounts receivable $ 488,424 16% $ 372,800 14.4% 517,729 Ending Inventory $ 1,034,956 35% $ 760,000 29.3% 1,175,000 Prepaid expenses $ 42,089 1% $ 28,000 1.1% 42,089 Total Current Assets $ 2,067,093 69% $ 1,645,800 63.40% 2,148,199 Capital Assets Plant and equipment $ 3,900,000 131% $ 3,900,000 150.2% 3,930,000 Less: Accum. Depreciation $ 2,988,000 100% $ 2,950,000 113.6% 3,024,480 Net plant and equipment $ 912,000 31% $ 950,000 36.60% 905,520 1174967 1174967 Total assets $ 2,979,093 100% $ 2,595,800 100% 3,053,719 Liabilities and Owner's Equity 1174967 Current Liabilities Accounts payable $ 1,051,007 35% $ 776,051 29.9% 1,114,000 Notes payable $ 200,000 7% $ 250,000 9.6% 200,000 Long Term Liabilities Mortgage payable $ 911,115 31% $ 944,026 36.4% 874,670 Total Liabilities $ 2,162,122 73% $ 1,970,077 75.9% 2,188,670 Shareholders' Equity 1174967 Common stock $ 100,000 3% $ 100,000 3.9% 120,000 Retained earnings $ 716,971 24% $ 525,723 20.3% 745,048 Total shareholders' equity $ 816,971 27% $ 625,723 24.1% 865,048 Total liabilities and shareholders' equity $ 2,979,093 100% $ 2,595,800 100.0% 3,053,719
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changes 3.71% 113,381 Cash Plug $ (33,376) 9.82% $ 50,000 16.95% $ 115,624 38.48% $ 274,956 1.38% $ 14,089 70.35% 128.70% 99.04% 29.65% 100.00% 36.48% 6.55% 28.64% 71.67% 3.93% $ - 24.40% 28.33% 100.00%
1174967 Fanshawe Furniture Manufacturing Cash Flow Statement For the Year Ended December 31, 2023 Operating Activities Net Income (earnings after taxes) $241,248 Add Amortization $38,000 Cash Flow from operations $279,248 Changes in non cash working capital 1174967 Increase in Accounts Receivable $ (115,624) Increase in GIC's $ (50,000) Increase in Inventory $ (274,956) Increase in Prepaid Expenses $ (14,089) Decrease in Notes Payable $ (50,000) Increase in Accounts Payable $ 274,956 Net Change in non cash working capital $ (229,713) Cash provided by (used in) operating activities $49,535 Investing Activities 1174967 Increase in plant and equipment $0 Cash provided by (used in) investing activities $ - Financing Activities 1174967 Decrease in Mortgage Payable $ (32,911) Common Stock Dividends paid $ (50,000) Cash provided by (used in) financing activities $ (82,911) Net increase (decrease) in cash during the year: 1174967 $ (33,376) Plus: Cash Beginning of year $ 235,000 Cash end of year $ 201,624 Cash As per Balance Sheet $ 201,624
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1174967 2023 Current Ratio Current Assets 1.65 Current Liabilities Quick Ratio Current Assets-Inventory 0.83 Current Liabilities Inventory Turns CoS 3.98 Avg Inventory Gross Margin % Net Sales-CoS 24.0% Net Sales Net Profit Margin % Net Profit 5.14% Net Sales Return on Equity Net Profit 30% Shareholder's Equity Accounts Payable Period Accounts Payable 126.18 Average daily purchases Average Collection Period Accounts Receivable 42.2 Average daily credit sales 1174967 Interest Coverage EBIT 7.3 Interest Debt Coverage EBIT + Current portion of LTD Interest + Current portion of LTD 1174967 1174967
3
2022 2024 1.60 1.63 0.86 0.74 4.68 3.53 25.0% 18.6% 3.46% 2.05% 24% 11% 122.87 127.38 35.0 43.8 4.8 3.4
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1174967 Fanshawe Furniture Manufacturing Breakeven Calculations 2023 2024 Gross Margin 24% 19% Fixed Expenses $621,978 $624,276 Annual Breakeven Sales $2,595,100 $3,355,856 Monthly Breakeven Sales $216,258 $279,655 Sales Required for a profit of: $ 1,000,000 $6,767,433 $8,731,455 Complete the Theory Problem in space below
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BasaulaBigyan1174967 Fanshawe Furniture Man Nov Dec January February March April May June July Inflows 8% 4% 4% 4% 4% 4% 4% 4% 4% Total Sales $ 375,663 $ 187,832 $ 191,588 $ 191,588 $ 191,588 $ 191,588 $ 191,588 $ 191,588 $ 191,588 Credit Sales $ 338,097 $ 169,048 $ 172,429 $ 172,429 $ 172,429 $ 172,429 $ 172,429 $ 172,429 $ 172,429 Cash Sales $ 37,566 $ 18,783 $ 19,159 $ 19,159 $ 19,159 $ 19,159 $ 19,159 $ 19,159 $ 19,159 Collections Current month $ 17,243 $ 17,243 $ 17,243 $ 17,243 $ 17,243 $ 17,243 $ 17,243 Collections 2nd month $ 67,619 $ 68,972 $ 68,972 $ 68,972 $ 68,972 $ 68,972 $ 68,972 Collections 3rd month Insurance Insurance $ 169,048 $ 84,524 $ 86,215 $ 86,215 $ 86,215 $ 86,215 $ 86,215 Total Inflows $ 637,087 $ 553,915 $ 555,606 $ 555,606 $ 555,606 $ 555,606 $ 191,588 Outflows Purchases $ 121,605 $ 121,605 $ 127,685 $ 127,685 $ 127,685 $ 127,685 $ 127,685 $ 127,685 $ 638,427 Cash Purchases Paid 1st month Paid 2nd Month $ 121,605 $ 121,605 $ 127,685 $ 127,685 $ 127,685 $ 127,685 $ 127,685 Direct Wages & Exp $ 32,151 $ 32,151 $ 32,151 $ 32,151 $ 32,151 $ 32,151 $ 32,151 Freight-in 39660 $ 1,713 $ 1,713 $ 1,713 $ 1,713 $ 1,713 $ 1,713 $ 1,713 Mortgage Principal $ 2,110 $ 2,121 $ 2,131 $ 2,142 $ 2,152 $ 2,163 $ 2,174 Mortgage Interest $ 4,379 $ 4,368 $ 4,358 $ 4,347 $ 4,337 $ 4,326 $ 4,315 Notes Interest 16000 Utilities Insurance Insurance Insurance Transport Repairs and Maint Advertising Misc Expense Salaries Taxes Dividends $ 71,069 $ 71,069 Capital Investments Total Outflows Net Cash Flow Cash Balance $ 201,624 $ 201,624 $ 201,624 $ 201,624 $ 201,624 $ 201,624 $ 201,624 $ 201,624 Net Sales: $ 4,789,706 2024 Sales on Credit 90% A/P outstanding 0.0 days
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### A/R Collected 10% End of 1st Month A/R Collected 40% End of 2nd month A/R Collected 50% End of 3rd month Cash Purchases 0% Cash purchases A/P Paid 0% Paid 1st month A/P Paid 100% Paid 2nd month Net Purchases $ 3,040,127 2023 Net Purchases $ 3,192,133 2024 Freight in $ 42,833 2024 paid current
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nufacturing Cash Budget August Sept Oct Nov Dec Total 20% 20% 20% 8% 4% 100% $ 957,941 $ 957,941 $ 957,941 $ 383,176 $ 191,588 $ 4,789,706 $ 862,147 $ 862,147 $ 862,147 $ 344,859 $ 172,429 $ 4,310,735 $ 95,794 $ 95,794 $ 95,794 $ 38,318 $ 19,159 $ 478,971 $ 86,215 $ 86,215 $ 86,215 $ 34,486 $ 17,243 $ 431,074 $ 68,972 $ 344,859 $ 344,859 $ 344,859 $ 137,944 $ 1,722,942 $ 86,215 $ 86,215 $ 431,074 $ 431,074 $ 431,074 $ 2,150,296 $ 337,195 $ 613,082 $ 957,941 $ 848,736 $ 605,419 $ 4,783,282 $ 638,427 $ 638,427 $ 255,371 $ 127,685 $ 3,192,133 $ 6,499,792 $ 127,685 $ 638,427 $ 638,427 $ 638,427 $ 255,371 $ 3,179,973 $ 160,755 $ 160,755 $ 160,755 $ 64,302 $ 32,151 $ 803,775 $ 8,567 $ 8,567 $ 8,567 $ 3,427 $ 1,713 $ 42,833 $ 2,184 $ 2,195 $ 2,206 $ 2,217 $ 2,228 $ 26,024 $ 4,304 $ 4,294 $ 4,283 $ 4,272 $ 4,261 $ 51,843 $ 201,624 $ 201,624 $ 201,624 $ 201,624 $ 201,624
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Number of Businesses Revenue Range: Low Value ($000) 30 110 High Value ($000) 110 368 REVENUES AND EXPENSES Total revenue 100.00 100.00 Sales of goods and services 98.10 85.30 All other revenues 1.90 14.70 Cost of sales (direct expenses) 37.30 47.60 Wages and benefits 0.30 11.60 Purchases, materials and sub-contracts 36.70 36.10 Opening Inventory 3.50 3.40 Closing inventory 3.20 3.50 Operating expenses (indirect expenses) 66.10 49.40 Labour and commissions 21.00 16.10 Amortization and depletion 6.70 3.90 Repairs and maintenance 1.20 1.20 Utilities and telephone/telecommunication 3.50 3.10 Rent 11.10 9.10 Interest and bank charges 1.60 0.10 Professional and business fees 3.40 2.00 Advertising and promotion 0.60 1.90 Delivery, shipping and warehouse expenses 0.00 0.10 Insurance 2.20 2.20 Other expenses 14.80 9.70 Total expenses 103.40 97.10 Net profit/loss -3.40 2.90 BALANCE SHEET Total assets 52.60 166.70 Total current assets 28.70 49.60 Accounts receivable 7.20 13.70 Closing inventory 2.50 6.00 Other current assets 19.00 29.90 Net tangible and intangible assets 23.90 114.70 All other assets and adjustments 0.00 2.40 Total liabilities 67.00 188.70 Total current liabilities 42.50 80.30 Current bank loans 0.00 18.90 Other current liabilities 42.50 61.30 Long term liabilities 24.50 108.40 Industry Canada | Industrie Canada Government of Canada | Gouvernement du Canada Bottom Quartile (25%) Lower Middle (25%)
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Total equity -14.50 -22.00 FINANCIAL RATIOS Current ratio 0.70 0.60 Debt to equity ratio -4.60 -8.60 Interest coverage ratio -1.10 43.80 Debt ratio 1.30 1.10 Revenue to equity ratio -4.60 -9.90 Revenue to closing inventory ratio 26.00 36.10 Current debt to equity (%) -293.30 -364.70 Net profit to equity (%) 15.50 -29.30 Net fixed assets to equity (%) -164.80 -521.00 Gross margin (%) 62.00 44.20 Return on total assets (%) -2.20 4.00 Collection period for accounts receivable (days) 39.50 23.00 Profile Provinces/Territory/Canada Ontario Incorporation Status Incorporated Businesses Distribution by Total revenue Value in Percentage Industry NAICS 337213 - Wood Office Furniture, including C Comparison Groups Upper Middle; Top Quartile Size of Firms Annual Revenues $30,000 - $5,000,000 Note Balance sheet information is only available for Inco Source: Statistics Canada - Small Business Profiles
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368 1423 1423 5000 100.00 100.00 89.90 99.90 10.10 0.10 56.60 74.20 22.10 28.50 35.50 46.70 9.70 11.90 10.70 12.90 28.70 25.60 13.70 10.50 1.90 1.30 0.30 0.60 1.90 1.00 4.30 3.40 0.20 0.30 1.50 1.90 0.50 1.00 0.30 0.70 0.70 0.70 3.40 4.20 85.30 99.80 14.70 0.20 917.90 1683.10 819.50 1368.60 134.00 423.60 79.20 323.50 606.30 621.50 73.80 222.80 24.60 91.70 621.90 970.60 469.10 639.40 1.80 0.40 467.20 639.10 152.80 331.20 Upper Middle (25%) Top Quartile (25%) This is the percentages printout from the SME benchmarking. Also known as COMMON SIZE.
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296.00 712.50 1.70 2.10 2.10 1.40 60.70 1.60 0.70 0.60 2.50 3.40 9.20 7.50 158.50 89.70 36.20 0.70 24.90 31.30 37.10 25.70 11.90 0.80 67.10 63.40 Custom Architectural Woodwork, Manufacturing orporated Status.
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Number of Businesses Revenue Range: Low Value ($000) 30 110 High Value ($000) 110 368 REVENUES AND EXPENSES Total revenue 66.10 218.40 Sales of goods and services 64.90 186.40 All other revenues 1.20 32.10 Cost of sales (direct expenses) 24.70 104.00 Wages and benefits 0.20 25.30 Purchases, materials and sub-contracts 24.20 78.90 Opening Inventory 2.30 7.40 Closing inventory 2.10 7.60 Operating expenses (indirect expenses) 43.70 108.00 Labour and commissions 13.90 35.10 Amortization and depletion 4.40 8.60 Repairs and maintenance 0.80 2.60 Utilities and telephone/telecommunication 2.30 6.80 Rent 7.30 19.90 Interest and bank charges 1.10 0.20 Professional and business fees 2.20 4.40 Advertising and promotion 0.40 4.20 Delivery, shipping and warehouse expenses 0.00 0.20 Insurance 1.50 4.80 Other expenses 9.80 21.10 Total expenses 68.40 212.00 Net profit/loss -2.20 6.40 BALANCE SHEET Total assets 52.60 166.70 Total current assets 28.70 49.60 Accounts receivable 7.20 13.70 Closing inventory 2.50 6.00 Other current assets 19.00 29.90 Net tangible and intangible assets 23.90 114.70 All other assets and adjustments 0.00 2.40 Total liabilities 67.00 188.70 Total current liabilities 42.50 80.30 Current bank loans 0.00 18.90 Other current liabilities 42.50 61.30 Long term liabilities 24.50 108.40 Industry Canada | Industrie Canada Government of Canada | Gouvernement du Canada Bottom Quartile (25%) Lower Middle (25%)
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Total equity -14.50 -22.00 FINANCIAL RATIOS Current ratio 0.70 0.60 Debt to equity ratio -4.60 -8.60 Interest coverage ratio -1.10 43.80 Debt ratio 1.30 1.10 Revenue to equity ratio -4.60 -9.90 Revenue to closing inventory ratio 26.00 36.10 Current debt to equity (%) -293.30 -364.70 Net profit to equity (%) 15.50 -29.30 Net fixed assets to equity (%) -164.80 -521.00 Gross margin (%) 62.00 44.20 Return on total assets (%) -2.20 4.00 Collection period for accounts receivable (days) 39.50 23.00 Profile Provinces/Territory/Canada Ontario Incorporation Status Incorporated Businesses Distribution by Total revenue Value in Thousands of dollars Industry NAICS 337213 - Wood Office Furniture, including C Comparison Groups Upper Middle; Top Quartile Size of Firms Annual Revenues $30,000 - $5,000,000 Note Balance sheet information is only available for Inco Source: Statistics Canada - Small Business Profiles
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368 1423 1423 5000 729.00 2438.00 655.40 2435.50 73.60 2.40 412.50 1809.80 161.30 695.90 259.00 1139.50 70.40 290.10 78.30 315.70 209.50 622.90 100.10 255.50 13.90 30.90 2.10 15.10 13.70 24.00 31.50 83.80 1.80 8.50 10.90 47.50 3.50 24.10 2.50 15.90 4.80 16.20 24.60 101.50 621.90 2432.80 107.10 5.20 917.90 1683.10 819.50 1368.60 134.00 423.60 79.20 323.50 606.30 621.50 73.80 222.80 24.60 91.70 621.90 970.60 469.10 639.40 1.80 0.40 467.20 639.10 152.80 331.20 Upper Middle (25%) Top Quartile (25%)
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296.00 712.50 1.70 2.10 2.10 1.40 60.70 1.60 0.70 0.60 2.50 3.40 9.20 7.50 158.50 89.70 36.20 0.70 24.90 31.30 37.10 25.70 11.90 0.80 67.10 63.40 Custom Architectural Woodwork, Manufacturing orporated Status.
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1. What items are typically submitted as part of the budget or annual plan?  Marketing plan  Capital plan  Employee plan  Both A & B
Order the following terms and operations to create the formula for the combined cash budget (before any financing is considered). E Beginning Cash Balance | Cash Payments 4 : Cash Collections Ending Cash Balance (before Financing) :::: ::::
I have a finance team at work. As the year progresses, they need to maintain a record of cash flow and expenditure. What will they be required to do as a first step to building a budget? Question 1Select one: A. Find out the balance sheet of the company B. Find the profit and loss for the previous year C. Identify the expenditure and demand along with the cash flow of the company D. Build an income and expenditure statement Incorrect
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A company is planning to prepare Budget for the year 2022. In the budgeting and planning process, which one of the following should be completed first? a. Cost management plan b. Financial budget C.Sales budget d. Strategic plan
A company has completed the operating budget and the cash budget. It is now preparing the budgeted balance sheet. Please use the below image as your guide for the next 5 questions. Identify the document that contains cash balance.*         A       B       C       D       E
Explain why it would be beneficial to prepare a cash forecast, or a cash budget, for an organization. (4 sentences)
When preparing the cash budget,the repayment of loans would be found in which section? A.financing activitiesB.operating activitiesC.investing activitiesD.cash flow statementE.liability statement
Hello, I'm looking for a break down on how to solve this problem, thank you
A plan that shows the cash balance on hand at the beginning of a budget period, expected cash flow from operations, cash flows from investing activities, cash flows from financing activities, and an ending cash balance is called a(n): Financial budget. Cash budget. Capital budget. Operating budget. Cash receipts budget.
The final step in the budgeting process is to draw up the budgeted statement of financial position at the end of the budgeted period. This statement summarizes the assets and liabilities of an entity at the end of an accounting period whether actual or budgeted. A snapshot of an entity financial situation. We have looked at all the numbers that will go into Bud's statement of financial position when we prepared the budgeted income statement and budgeted cash flow forecast. Now, it is time to indicate all of these in the final balance sheet. Non-current asset Machinery and tools Insurance prepayment Rates prepayment Cash at bank Total current assets Total assets From the above information, can you produce the budgeted statement of financial position? Current liabilities Trade payables for wood Budgeting.
Only use Excel please and take a screenshot
Item 1 Which of the following is a budget used to project cash flow and likely cash shortfalls and/or surpluses? Multiple Choice Financing budget Master budget Rolling budget Operational budget Capital budget
Need him with the decriotionaIncluding the budget's objective, how the budget assists an organization in managing its financial activities, and what types of data need to be included in that specific budget
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