Given the condensed Cash Budget table below: Beginning cash balance............. .50,000 Collections from customers.......303,000 Total cash available.. Total cash disbursements... Ending cash balance...... .353,000 .324,000 .28,600 Milo Company's fixed selling and administrative expense doubled from 2,000 to 4,000 dollars, WHAT WOULD THE ENDING CASH BALANCE BE?
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- f. PROBLEM 8-29 Completing a Master Budget LOB-2, LOB-4, LOB-7, LOB-B, LOB-9, LOB-10 The following data relate to the operations of Shilow Company, a wholesale distributor of con- sumer goods: g. h. b. Actual and budgeted sales data: a. The gross margin is 25% of sales. c. d. e. One-half of a month's inventory purchases is paid for in the month of purchase; the other half is paid for in the following month. The accounts payable at March 31 are the result of March purchases of inventory. Monthly expenses are as follows: commissions, 12% of sales; rent, $2,500 per month; other expenses (excluding depreciation), 6% of sales. Assume that these expenses are paid monthly. Depreciation is $900 per month (includes depreciation on new assets). Equipment costing $1.500 will be purchased for cash in April. Management would like to maintain a minimum cash balance of at least $4,000 at the end of each month. The company has an agreement with a local bank that allows the company to borrow in…Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows:1st Quarter 2nd Quarter 3rd Quarter 4th QuarterTotal cash receipts .............................. $180,000 $330,000 $210,000 $230,000Total cash disbursements .................... $260,000 $230,000 $220,000 $240,000The company’s beginning cash balance for the upcoming fiscal year will be $20,000. The company requiresa minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterlyinterest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repayits loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at thetime it is repaid. For simplicity, assume that interest is not compounded.Required:Prepare the company’s cash budget for the upcoming fiscal yearA cash budget, by quarters, is given below for a retail company (000 omitted). The company requires aminimum cash balance of at least $5,000 to start each quarter.Quarter1 2 3 4 YearCash balance, beginning ............................ $ 6 $ ? $ ? $ ? $ ?Add collections from customers ................. ? ? 96 ? 323Total cash available ................................... 71 ? ? ? ?Less disbursements:Purchase of inventory ............................. 35 45 ? 35 ?Operating expenses ................................ ? 30 30 ? 113Equipment purchases ............................. 8 8 10 ? 36Dividends ................................................ 2 2 2 2 ?Total disbursements .................................... ? 85 ? ? ?Excess (defi ciency) of cash availableover disbursements ................................. (2) ? 11 ? ?Financing:Borrowings .............................................. ? 15 — — ?Repayments (including interest)* ............ — — (?) (17) (?)Total fi nancing…
- Cash receipts budget Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows:Actual:July . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 98,000August . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105,000Forecast:September . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114,000October . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94,000November . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122,000December . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107,000Based on past experience, it is estimated that 30% of a month’s sales are collected in the month of sale, 55% are collected in the month following the sale, and 10% are collected in the second month following the sale.Required:Calculate the estimated cash receipts for September, October, and…Exercise 7 (Cash Budget Analysis) A cash budget, by quarters, is given below for a retail company. (000 omitted). The company requires a minimum cash balance of P5,000 to start each quarter. Quarter 1 2 3 4 Year Cash balance, beginning..................... P9 P? P? P? P? Add collections from customers….. ? ? 125 ? 391 Total cash available………………. 85 ? ? ? ? Less disbursements: Purchase of inventory….................. 40 58 ? 32 ? Operating expenses…………... ? 42 54 ? 180 Equipment purchases…................ 10 8 8 ? 36 Dividends…………………….. 2 2 2 2 ? Total disbursement………………..…Cash budget—comprehensive Following are the budgeted income statements for the second quarter of 2013 for SeaTech, Inc.:April May JuneSales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $140,000 $170,000 $190,000Cost of goods sold* . . . . . . . . . . . . . . . . . . . . . 96,000 114,000 126,000Gross profi t . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 44,000 $ 56,000 $ 64,000Operating expenses† . . . . . . . . . . . . . . . . . . . . 22,000 25,000 27,000Operating income . . . . . . . . . . . . . . . . . . . . . . . $ 22,000 $ 31,000 $ 37,000*Includes all product costs (i.e., direct materials, direct labor, and manufacturing overhead). †Includes all period costs (i.e., selling, general, and administrative expenses). The company expects about 30% of sales to be cash transactions. Of sales on account, 60% are expected to be collected in the first month after the sale is made, and 40% are expected to be collected in the second month after sale. Depreciation,…
- Use the following information a. Beginning cash balance on March 1, P72,000. b. Cash receipts from sales, P300,000. с. Budgeted cash disbursements for purchases, 140,000. d. Budgeted cash disbursements for salaries, 80,000. е. Other budgeted cash expenses, 45,000. f. Cash repayment of bank loan, 20,000. Prepare a cash budget for the month ended on March 31 for Mason Company. The budget should show expected cash receipts and cash disbursements for the month of March and the balance expected on March 31.Jaborosa, Inc., a merchandising company, has provided the following budgeted amounts for the next budget period. Beginning cash balance Cash collections Payments for: Purchases of merchandise inventory Selling and administrative expenses Capital expenditures $30,700 680,000 O A. $(17,700) OB. $710,700 OC. $290,900 O D. $32,300 349,300 70,500 308,600 A minimum cash balance of $30,000 is required to be maintained. The company can borrow in increments of $10,000 as and when required. Assume the company can borrow the needed funds at the end of the period. Calculate the ending cash balance for the budget period. C...Your Corporation makes and sells a single product. The company is in the process of preparing its Selling and Administrative Expense Budget for the last quarter of the year. The following budget data are available: Variable Cost Per Unit Sold Monthly Fixed Cost Sales commissions.................................. $2.10 Shipping................................................. $3.90 Advertising............................................. $7.40 $34,000 Executive salaries................................... $198,000 Depreciation on office equipment.......... $10,000 Other....................................................... $0.60 $38,000 All of these expenses (except depreciation) are paid in cash in the month they are incurred. The budgeted cash disbursements for selling and administrative expenses for October total $449,200. How many units does the company plan to sell in October? You…
- Your Corporation makes and sells a single product. The company is in the process of preparing its Selling and Administrative Expense Budget for the last quarter of the year. The following budget data are available: Variable Cost Per Unit Sold Monthly Fixed Cost Sales commissions.................................. $2.10 Shipping................................................. $3.90 Advertising............................................. $7.40 $34,000 Executive salaries................................... $198,000 Depreciation on office equipment.......... $10,000 Other....................................................... $0.60 $38,000 All of these expenses (except depreciation) are paid in cash in the month they are incurred. Thebudgeted cash disbursements for selling and administrative expenses for October total $462,000.How many units does the company plan to sell in October? You…Cash BudgetExercise 7 (Cash Budget Analysis) A cash budget, by quarters, is given below for a retail company. (000 omitted). The company requires a minimum cash balance of P5,000 to start each quarter. Quarter 1 2 3 4 Year Cashbalance,beginning.. P9 P ? P ? P? P? Add collectionsfromcustomers.... ? ? 125 ? 391 Totalcash available... 85 ? ? Less disbursements: Purchaseofinventory. 40 58 ? 32 Operatingexpenses. 42 54 ? 180 Equipmentpurchases.. 10 8 8 36 Dividends... 2 2 2 2 ? Totaldisbursement.. 110 ? ? ? Excess (deficiency) of cash available Ordisbursements.... (3) 30 ? ? Financing: Borrowings.. ? 20 Repayments (including interest)*.. (?) (7) (?) Total financing... ? ? (?) (?) Cash balance, ending.... P ? P ? P ? P ? P? *Interest will total P4, 000 for the year. Required: Fill in the missing amounts in the table above.