ere are some important figures from the budget of Nashville Nougats, Incorporated, for the second quarter of 2022: June April May $390,000 $340,000 176,000 164,000 $436,000 197,000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases Beginning cash balance Cash receipts he company predicts that 5 percent of its credit sales will never be collected, 30 percent of its sales will be collected in the month of e sale, and the remaining 65 percent will be collected in the following month. Credit purchases will be paid in the month following be purchase. In March 2022, credit sales were $326,000. Cash collections from credit sales Total cash available Cash disbursements sing this information, complete the following cash budget. ote: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Purchases Wages, taxes, and expenses Interest Equipment purchases 79,400 9,100 31,500 Total cash disbursements Inding cash balance 74,900 9,100 4,000 S 103,600 9,100 144,000 April 106,000 168,000 May June
ere are some important figures from the budget of Nashville Nougats, Incorporated, for the second quarter of 2022: June April May $390,000 $340,000 176,000 164,000 $436,000 197,000 Credit sales Credit purchases Cash disbursements Wages, taxes, and expenses Interest Equipment purchases Beginning cash balance Cash receipts he company predicts that 5 percent of its credit sales will never be collected, 30 percent of its sales will be collected in the month of e sale, and the remaining 65 percent will be collected in the following month. Credit purchases will be paid in the month following be purchase. In March 2022, credit sales were $326,000. Cash collections from credit sales Total cash available Cash disbursements sing this information, complete the following cash budget. ote: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32. Purchases Wages, taxes, and expenses Interest Equipment purchases 79,400 9,100 31,500 Total cash disbursements Inding cash balance 74,900 9,100 4,000 S 103,600 9,100 144,000 April 106,000 168,000 May June
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Here are some important figures from the budget of Nashville Nougats, Incorporated, for the second quarter of 2022:
April
May
June
$399,000$ 348,000 $436,000
176,000
164,000
197,000
Credit sales
Credit purchases
Cash disbursements
Wages, taxes, and expenses
Interest
Equipment purchases
Beginning cash balance
Cash receipts
The company predicts that 5 percent of its credit sales will never be collected, 30 percent of its sales will be collected in the month of
the sale, and the remaining 65 percent will be collected in the following month. Credit purchases will be paid in the month following
the purchase. In March 2022, credit sales were $326,000.
Cash collections from credit sales
Total cash available
Cash disbursements
Using this information, complete the following cash budget.
Note: Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.
Purchases
Wages, taxes, and expenses
Interest
Equipment purchases
79,400
9,100
31,500
Total cash disbursements
Ending cash balance
74,900
9,100
4,000
$
$
103,600
9,100
144,000
April
106,000
168,000
May
June
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