ASSIGNMENTGiven:A. Cash Receipts:Schedule of Sales (Values in Pesos)January 3,000February 3,000March 5,000April 6,000Of the sales transactions, 25% comprises cash sales, while the other75% will be collected after one month.B. Cash Disbursements:Schedule of Purchases (Values in Pesos)January 3,000February 0March 2,000April 4,000Of the purchases, 50% are to be paid in cash, while the other 50%will be paid one month later.In addition, the following cash expenses are also shown.(Values in Pesos)Rent 1,000 monthlySupplies 500 monthlyLabor 1,000 monthlyc. Other Information:Ending Cash Balance in December was P5,000.b. Interest is 1% per month, if applicableThere is no minimum ending cash balance required.a.C.Required:Construct a schedule of cash budget for the four-month period.

A cash budget is one of the types of budget which provides an estimation of the cash receipts for a…

Answered: Required: Construct a schedule of cash…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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LB Enterprises (LB) is preparing its budget for the first quarter of 2019. LB's balance sheet as of December 31, 2018 is as follows: Assets Liabilities Cash $5,000 Accounts Payable $9500 Accounts Recievable 28,000 Inventories Direct Materials 8,100 Finished Goods (500 Units) 16,870 Stockholders Equity Equipment - gross 45,000 Accumulated depreciation 15.000 Common Stock $15,000 Net Equipment 30,000 Retained Earnings 63,470 Total Assets $87,970 Total Liabilities and $87,960 Equity LB sells one product for $45/unit. The Company forecasts that it will sell 2,000; 1,500; 1,600; and 1,700 units in January, February, March and April, respectively. • Sales to customers are all on credit. 40% of the cash for these sales is collected in the month of the sale and the remaining 60% is collected in the following month. LB wants finished goods inventory equal to 25% of the next month's sales on hand at the end of each month. LB wants direct materials equal to 75% of the current month's production…
Prepare a cash budget for January and February in columnar form. Please answer in detail with all working please answer in text not image
a. What are the total expected cash collections for the year under this revised budget? b. What is the total required production for the year under this revised budget? c. What is the total cost of raw materials to be purchased for the year under this revised budget? d. What are the total expected cash disbursements for raw materials for the year under this revised budget?
provide the followinf inforamtion to help prepare the master budget for the next four months of opration Could you solve ( D , E , F and G ) only thanks
Prepare the direct material budgets for the upcoming five years. The budgets should also include a schedule of expected cash disbursements for purchase of materials, by year and in total. Make your assumptions about the safety stock of materials and the timing of payments clear. Total Raw materials $23 ( Distilled water $2, Rose oil $2, Sandalwood $2, Cedar $2, Musk $8, vanilla $5, Ethyl $1, Methyl $1) Box $10 Bottle $20 Labour $7
Prepare schedules for (1) expected collections from customers and (2) expected payments for direct materials purchases for January and February. Prepare a cash budget for January and February in columnar form. please dont provide answer in an image format thnku
A cash budget a. is an optional feature of a master budget. b. requires input from all parts of the organization. c. takes the place of another budget. d. is prepared only at year end.
Q. prepare Direct material usage budget and direct material purchases budget in both units and dollars; round to dollars for june.
Prepare a flexible budget report for the year
The budgeted monthly statement of profit or loss is drawn up on the basis of cash received and cash paid while the month-by-month cash budget is drawn up on the accruals basis. True False
The amount of prepaid expense reflected in the disbursement section of the cash budget is the same amount that is found on the monthly operating statement. True False
Cash budget. The budgeted beginning cash balance is $20,000, budgeted cash receipts total $100,000 and budgeted cash disbursements total $110,000. The desired ending cash balance is $30,000. How much the company needs to borrow

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Required: Construct a schedule of cash budget for the four-month period.