Deitz Corporation is projecting a cash balance of $33,300 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $205,350. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $47,730. Other information gathered for the first quarter of 2020 is sale of equipment $3,330; direct labor $77,700, manufacturing overhead $38,850, selling and administrative expenses $49,950; and purchase of securities $15,540. Deitz wants to maintain a balance of at least $27,750 cash at the end of each quarter. Prepare a cash budget for the first quarter.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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CALCULATOR
PRINTER VERSION
1 BACK
NEXT
Exercise 22-15
Deitz Corporation is projecting a cash balance of $33,300 in its December 31, 2019, balance
sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows
total collections of $205,350. The schedule of expected payments for direct materials for the first
quarter of 2020 shows total payments of $47,730. Other information gathered for the first quarter
of 2020 is sale of equipment $3,330; direct labor $77,700, manufacturing overhead $38,850,
selling and administrative expenses $49,950; and purchase of securities $15,540. Deitz wants to
maintain a balance of at least $27,750 cash at the end of each quarter.
Prepare a cash budget for the first quarter.
DEITZ CORPORATION
Cash Budget
> >
Transcribed Image Text:CALCULATOR PRINTER VERSION 1 BACK NEXT Exercise 22-15 Deitz Corporation is projecting a cash balance of $33,300 in its December 31, 2019, balance sheet. Deitz's schedule of expected collections from customers for the first quarter of 2020 shows total collections of $205,350. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $47,730. Other information gathered for the first quarter of 2020 is sale of equipment $3,330; direct labor $77,700, manufacturing overhead $38,850, selling and administrative expenses $49,950; and purchase of securities $15,540. Deitz wants to maintain a balance of at least $27,750 cash at the end of each quarter. Prepare a cash budget for the first quarter. DEITZ CORPORATION Cash Budget > >
Pepal
ES
DEITZ CORPORATION
Cash Budget
udy
> > >
Transcribed Image Text:Pepal ES DEITZ CORPORATION Cash Budget udy > > >
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