The budgeted cash collections in March for the sales made in March is __________The budgeted cash receipts for the month of April is ___________The budgeted purchases of merchandise for February is _____________The budgeted cash disbursements for operating expenses (other than cost of goods sold) during the month of April is ___________The budgeted cash disbursements to be made in April for merchandise purchases is _____________Assume that the expected cash balance at the beginning of April is P 51,600. How much is the budgeted cash balance as of April 30? ______ Pasol Company has just prepared its master budget for the year 2015. Some of the information used in thepreparation of such budget is as follows:1. Budgeted sales:JanuaryFebruaryMarchАprilMayP 480,000520,000560,000500,000576,000640,0002. Twenty percent of total sales is cash sales. The collections pattern for the sales on credit is asJunefollows:30% in the month of sale40% in the month after the month of sale25% in the second month after the month of sale3. Pasol Company's gross margin rate is 60% of sales.4. Accounts payable arising from merchandise purchases is paid for in the month following thepurchase5. The company desires an inventory at the end of each month equal to 30% of the next month'ssales in units.6. The variable operating expenses (other than cost of goods sold) are 10% of sales and are paid forin the month following the sale.7. The annual fixed operating expenses are as follows:DepreciationAdvertisingInsuranceP 336,000576,000144,000864,000192,000SalariesProperty taxes8. All of the fixed operating expenses are incurred uniformly throughout the year. Cash fixedoperating expenses are paid in the month of incurrence, except for:Insurance – paid quarterly in January, April and JulyProperty taxes – paid twice a year in April and October

A partnership is a contract between at least two people to run a business and share profits and…

Answered: budgeted cash receipts for the month of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The budgeted cash collections in March for the sales made in March is __________
The budgeted cash receipts for the month of April is ___________
The budgeted purchases of merchandise for February is _____________
The budgeted cash disbursements for operating expenses (other than cost of goods sold) during the month of April is ___________
The budgeted cash disbursements to be made in April for merchandise purchases is _____________
Assume that the expected cash balance at the beginning of April is P 51,600. How much is the budgeted cash balance as of April 30? ______

Pasol Company has just prepared its master budget for the year 2015. Some of the information used in the
preparation of such budget is as follows:
1. Budgeted sales:
January
February
March
Аpril
May
P 480,000
520,000
560,000
500,000
576,000
640,000
2. Twenty percent of total sales is cash sales. The collections pattern for the sales on credit is as
June
follows:
30% in the month of sale
40% in the month after the month of sale
25% in the second month after the month of sale
3. Pasol Company's gross margin rate is 60% of sales.
4. Accounts payable arising from merchandise purchases is paid for in the month following the
purchase
5. The company desires an inventory at the end of each month equal to 30% of the next month's
sales in units.
6. The variable operating expenses (other than cost of goods sold) are 10% of sales and are paid for
in the month following the sale.
7. The annual fixed operating expenses are as follows:
Depreciation
Advertising
Insurance
P 336,000
576,000
144,000
864,000
192,000
Salaries
Property taxes
8. All of the fixed operating expenses are incurred uniformly throughout the year. Cash fixed
operating expenses are paid in the month of incurrence, except for:
Insurance – paid quarterly in January, April and July
Property taxes – paid twice a year in April and October

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