0 tomheducation.com/ Chapter 9 Connect Assignment 20 1 Problem 9-12 Schedules of Expected Cash Collections and Disbursements [LO2] You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following formation is available about the company's operations The cash balance on December 1s $50,800 b Actual sales for Ortuber and November and expected sales for December are shown below Sales on account are collected over a three-month penod as follows 20% collected in the month of sale 60% collected in the month following sae, and 18% collected w the second month following saic The remaning 2% in uncollectible Purchases of inventory will total $175.000 for December Thety percent of a month's inventory purchases are past during the norm of purchase The accounts payable remaining from November's inventory purchases total $206.500, of which will be paid in December d. Selling and administrative expenses are budgeted at $448 000 for December of this amount 50/200 for depreciation Anew web server for the Marketing Department costing $80,000 will be purchased for cash during December, and dvdds totaling $14 500 will be paid during the 1 The company maintains a minimum cath balance of $20.000. An open line of credit is vaatie fm the company's bunk to b the cash position as needed Required 1 Prepare a schedule of expected cash collections for December Schede of Ext Cash Collection Decembe www 16 Nod-> Q Search 益
0 tomheducation.com/ Chapter 9 Connect Assignment 20 1 Problem 9-12 Schedules of Expected Cash Collections and Disbursements [LO2] You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following formation is available about the company's operations The cash balance on December 1s $50,800 b Actual sales for Ortuber and November and expected sales for December are shown below Sales on account are collected over a three-month penod as follows 20% collected in the month of sale 60% collected in the month following sae, and 18% collected w the second month following saic The remaning 2% in uncollectible Purchases of inventory will total $175.000 for December Thety percent of a month's inventory purchases are past during the norm of purchase The accounts payable remaining from November's inventory purchases total $206.500, of which will be paid in December d. Selling and administrative expenses are budgeted at $448 000 for December of this amount 50/200 for depreciation Anew web server for the Marketing Department costing $80,000 will be purchased for cash during December, and dvdds totaling $14 500 will be paid during the 1 The company maintains a minimum cath balance of $20.000. An open line of credit is vaatie fm the company's bunk to b the cash position as needed Required 1 Prepare a schedule of expected cash collections for December Schede of Ext Cash Collection Decembe www 16 Nod-> Q Search 益
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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tomheducation.com/
Chapter 9 Connect Assignment
20
1
Problem 9-12 Schedules of Expected Cash Collections and Disbursements [LO2]
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following
formation is available about the company's operations
The cash balance on December 1s $50,800
b Actual sales for Ortuber and November and expected sales for December are shown below Sales on account are collected over a
three-month penod as follows 20% collected in the month of sale 60% collected in the month following sae, and 18% collected w
the second month following saic The remaning 2% in uncollectible
Purchases of inventory will total $175.000 for December Thety percent of a month's inventory purchases are past during the norm
of purchase The accounts payable remaining from November's inventory purchases total $206.500, of which will be paid in
December
d. Selling and administrative expenses are budgeted at $448 000 for December of this amount 50/200 for depreciation
Anew web server for the Marketing Department costing $80,000 will be purchased for cash during December, and dvdds
totaling $14 500 will be paid during the
1 The company maintains a minimum cath balance of $20.000. An open line of credit is vaatie fm the company's bunk to b
the cash position as needed
Required
1 Prepare a schedule of expected cash collections for December
Schede of Ext Cash Collection
Decembe
www
16
Nod->
Q Search
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Transcribed Image Text:0
tomheducation.com/
Chapter 9 Connect Assignment
20
1
Problem 9-12 Schedules of Expected Cash Collections and Disbursements [LO2]
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following
formation is available about the company's operations
The cash balance on December 1s $50,800
b Actual sales for Ortuber and November and expected sales for December are shown below Sales on account are collected over a
three-month penod as follows 20% collected in the month of sale 60% collected in the month following sae, and 18% collected w
the second month following saic The remaning 2% in uncollectible
Purchases of inventory will total $175.000 for December Thety percent of a month's inventory purchases are past during the norm
of purchase The accounts payable remaining from November's inventory purchases total $206.500, of which will be paid in
December
d. Selling and administrative expenses are budgeted at $448 000 for December of this amount 50/200 for depreciation
Anew web server for the Marketing Department costing $80,000 will be purchased for cash during December, and dvdds
totaling $14 500 will be paid during the
1 The company maintains a minimum cath balance of $20.000. An open line of credit is vaatie fm the company's bunk to b
the cash position as needed
Required
1 Prepare a schedule of expected cash collections for December
Schede of Ext Cash Collection
Decembe
www
16
Nod->
Q Search
益
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