How were the figures under "payment to suppliers" in the cash budget calculated? Also for sales receipts you have $30,800 in september when it should be $25,200?
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How were the figures under "payment to suppliers" in the
Budgeting is a process of estimation of cash balance for specified future period. On the basis of this estimation business can arrange required money .
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- For May, Young Company has budgeted its cash receipts at P125,000 and its cash disbursements at P138,000. The company's cash balance on May 1 is P17,000. If the desired May 31 cash balance is P20,000, then how much cash must the company borrow during the month (before considering any interest payments)? * P8,000 O P4,000 O P12,000 P16,000KK ENTERPRISE was set up by a man and his with some few years ago. The trade in a lot of products. They don’t have enough knowledge in accounting for decision making. They need professional assistance to prepare budgets for the period October to December 2020. The following information has been provided to assist in the budgeting process: · Budgeted monthly sales revenue for 2020 is as follows: October GH¢ 40,000, November GH¢ 70,000, December GH¢ 50,000, January 2018 45,000. Sales are 20% cash and 80% credit. Credit sales are collected over a three- month period, 15% in the month of sale, 70% in the month following sale and 15% in the second month following sale. Total sales revenue in August amounts to GH¢30,000 and September’s total sales revenue amounts to GH¢36,000. Cost of sales is expected to amount to 60% of sales revenue each month. The business maintains its closing inventory levels at 75% of the following month’s cost of sales. Inventory at the beginning of October is…Cash Receipts Budget and Accounts Receivable Aging Schedule Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted the following sales: Quarter 1 $4,760,000 Quarter 2 5,620,000 Quarter 3 3,060,000 Quarter 4 7,720,000 In Shalimar's experience, 10 percent of sales are paid in cash. Of the sales on account, 65 percent are collected in the quarter of sale, 25 percent are collected in the quarter following the sale, and 7 percent are collected in the second quarter after the sale. The remaining 3 percent are never collected. Total sales for the third quarter of the current year are $5,310,000 and for the fourth quarter of the current year are $7,350,000. Required: 1. Calculate cash sales and credit sales expected in the last two quarters of the current year, and in each quarter of next year. Quarter Cash Sales Credit Sales 3, current year 4, current year 1, next year 2, next year 3. next vear 4, next year 2. Construct a cash receipts budget for…
- Required: Prepare Shadee's budgeted income statement for the months of May and June. Note: Do not round your intermediate calculations. Round your answers to 2 decimal places. Budgeted Gross Margin SHADEE CORPORATION Budgeted Income Statement Budgeted Net Operating Income May JuneAssume a company's sales budget for July estimates 17,000 units sold. The variable selling and administrative expense used for budgeting purposes is $4.00 per unit sold. The total budgeted cash disbursements for selling and administrative expenses in July is $139,000. The total fixed selling and administrative expenses included in the selling and administrative expense budget for July is $100,000. What is the amount of depreciation included in the selling and administrative expense budget for July? Multiple Choice O OOO $14,000 $32,000 $29,000 $47,000The following information was taken from Bonita Industries's cash budget for the month of July: Beginning cash balance $440000 Cash receipts 404000 Cash disbursements 558000 If the company's policy is to maintain a minimum end of the month cash balance of $430000, the amount the company would have to borrow in July is $286000. $144000. $10000. $26000.
- Ahmed Company purchases all merchandise on credit. It recently budgeted the month-end accounts payable balances below. Cash payments on accounts payable during each month are expected to be June, $1,450,000; July, $1,300,000; and August, $1,300,000. Hint: Use the relation (Beg. Accounts Payable + Purchases on Credit - Payments on Accounts Payable = End. Accounts Payable) to solve for budgeted purchases. Accounts payable May 31 June 30 $ 130,000 $ 110,000 Ending accounts payable Add: Cash paid on accounts payable Total accounts payable Less: Beginning accounts payable Budgeted merchandise purchases Computing budgeted merchandise purchases from accounts payable Budgeted amounts: $ June July 31 $ 400,000 0 0 $ July 0 August 31 $ 170,000 0 $ August 0 0Please help make this make sensePlease help solve steps