Completed Budgets (April, May, June, and Quarter Total, 2021) please find the required numerical information from the images attached REQUIRED: Prepare a cash budget . Show the budget by month and in total. What will be reported on the budgeted balance sheet at June 30, 2021 for accounts receivable? Supporting calculations required to earn available points. What will be reported on the budgeted balance sheet at June 30, 2021 for merchandise purchases payable? Supporting calculations required to earn available points.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Your friend, Catherine Ross, owns Knockoffs Unlimited, a nationwide distributor of low-cost imitation designer necklaces. She has contacted you for some assistance because the accounting clerk, George Forrest, recently won a sum of money and decided to resign immediately. Catherine knows that you are completing an accounting course at Cape Breton University and hopes you can prepare the
Catherine has provided you with the budgets completed by George. She has also provided you with additional information that will assist with the completion of the cash budget.
Completed Budgets (April, May, June, and Quarter Total, 2021)
please find the required numerical information from the images attached
REQUIRED:
- Prepare a cash budget . Show the budget by month and in total.
- What will be reported on the budgeted
balance sheet at June 30, 2021 foraccounts receivable ? Supporting calculations required to earn available points. - What will be reported on the budgeted balance sheet at June 30, 2021 for merchandise purchases payable? Supporting calculations required to earn available points.
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