Homework Help is Here – Start Your Trial Now!
Business
Accounting
Schedule of Expected Cash Collections Collection of Cash Sales Credit Sales: Collected Month of Sale Collected Month After Sale Total Collections Inventory Purchases Budget Budgeted Costs of Goods Sold Add Desired Ending Inventiory Total Inventory Needs Deduct Beginning Inventory Total Purchases Schedule of Cash Disbursements-Inventory Operating Expenses: Salaries and Wages Shipping Advertising Total Cash Disbursements Cash Budget Inventory Purchases: Paid Month of Purchases Paid Month After Purchases Total Cash Disbursements Schedule of Cash Disbursements-Operating Expenses Cah Balance Beginning Add Cash Collections Total Cash Available Less Cash Disbursements: For Inventory Purchases For Operating Expenses For Land Purchases For Dividends Total Cash Disbursements Excess (Deficiency) of Cash Financing: Borrowed from Bank AUG $ 180,000.00 $210,000.00 $240,000.00 $ 210,000.00 $245,000.00 $280,000.00 $ 175,000.00 $210,000.00 $245,000.00 $ 565,000.00 $665,000.00 $765,000.00 Principal Repayment Interest Paid Cash Balance, Ending Expenses JUL JUL $ 330,000.00 $385,000.00 $440,000.00 $ 57,750.00 $66,000.00 $49,500.00 $ 387,750.00 $451,000.00 $489,500.00 $ 100,000.00 $57,750.00 $66,000.00 $ 287,750.00 $393,250.00 $423,500.00 JUL JUL AUG JUL AUG $ 115,100.00 $157,300.00 $169,400.00 $ 110,000.00 $172,650.00 $235,950.00 $ 225,100.00 $329,950.00 $405,350.00 SEP 0 AUG $34,600.00 SEP $ 170,000.00 $190,000.00 $210,000.00 $ 12,000.00 $14,000.00 $16,000.00 $ 12,500.00 $12,500.00 $12,500.00 $ 194,500.00 $216.500.00 $238,500.00 AUG SEP SEP $100,000.00 $100,000.00 $183,258.00 $565,000.00 $665,000.00 $765,000.00 $665,000.00 $765,000.00 $948,258.00 SEP $225,100.00 $329,950.00 $405,350.00 $194,500.00 $216,500.00 $238,500.00 $180,000.00 0 $191,008.00 0 $25,000.00 $599,600.00 $546,450.00 $859,858.00 $65,400.00 $218,550.00 $88,400.00 $11,600.00 0 $34,600.00 $692.00 0 $100,000.00 $183,258.00 $100,000.00 Q3 Totals $ 630,000.00 $735,000.00 $630,000.00 1995000 Q3 $1,155,000.00 $ 173,250.00 $1,328,250.00 $ 223,750.00 $1,104,500.00 Q3 $ 508,350.00 $518,600.00 $ 960,400.00 Q3 $570,000.00 $ 42,000.00 $ 37,500.00 $ 649,500.00 Q3 $100,000.00 $1,995,000.00 $2,095,000.00 $ 960,00.00 $649,500.00 $ 371,008.00 $ 25,000.00 $2,005,908.00 $ 89,092.00 $46,200.00 $ 34,600.00 $ 692.00 $100,000.00

Schedule of Expected Cash Collections Collection of Cash Sales Credit Sales: Collected Month of Sale Collected Month After Sale Total Collections Inventory Purchases Budget Budgeted Costs of Goods Sold Add Desired Ending Inventiory Total Inventory Needs Deduct Beginning Inventory Total Purchases Schedule of Cash Disbursements-Inventory Operating Expenses: Salaries and Wages Shipping Advertising Total Cash Disbursements Cash Budget Inventory Purchases: Paid Month of Purchases Paid Month After Purchases Total Cash Disbursements Schedule of Cash Disbursements-Operating Expenses Cah Balance Beginning Add Cash Collections Total Cash Available Less Cash Disbursements: For Inventory Purchases For Operating Expenses For Land Purchases For Dividends Total Cash Disbursements Excess (Deficiency) of Cash Financing: Borrowed from Bank AUG $ 180,000.00 $210,000.00 $240,000.00 $ 210,000.00 $245,000.00 $280,000.00 $ 175,000.00 $210,000.00 $245,000.00 $ 565,000.00 $665,000.00 $765,000.00 Principal Repayment Interest Paid Cash Balance, Ending Expenses JUL JUL $ 330,000.00 $385,000.00 $440,000.00 $ 57,750.00 $66,000.00 $49,500.00 $ 387,750.00 $451,000.00 $489,500.00 $ 100,000.00 $57,750.00 $66,000.00 $ 287,750.00 $393,250.00 $423,500.00 JUL JUL AUG JUL AUG $ 115,100.00 $157,300.00 $169,400.00 $ 110,000.00 $172,650.00 $235,950.00 $ 225,100.00 $329,950.00 $405,350.00 SEP 0 AUG $34,600.00 SEP $ 170,000.00 $190,000.00 $210,000.00 $ 12,000.00 $14,000.00 $16,000.00 $ 12,500.00 $12,500.00 $12,500.00 $ 194,500.00 $216.500.00 $238,500.00 AUG SEP SEP $100,000.00 $100,000.00 $183,258.00 $565,000.00 $665,000.00 $765,000.00 $665,000.00 $765,000.00 $948,258.00 SEP $225,100.00 $329,950.00 $405,350.00 $194,500.00 $216,500.00 $238,500.00 $180,000.00 0 $191,008.00 0 $25,000.00 $599,600.00 $546,450.00 $859,858.00 $65,400.00 $218,550.00 $88,400.00 $11,600.00 0 $34,600.00 $692.00 0 $100,000.00 $183,258.00 $100,000.00 Q3 Totals $ 630,000.00 $735,000.00 $630,000.00 1995000 Q3 $1,155,000.00 $ 173,250.00 $1,328,250.00 $ 223,750.00 $1,104,500.00 Q3 $ 508,350.00 $518,600.00 $ 960,400.00 Q3 $570,000.00 $ 42,000.00 $ 37,500.00 $ 649,500.00 Q3 $100,000.00 $1,995,000.00 $2,095,000.00 $ 960,00.00 $649,500.00 $ 371,008.00 $ 25,000.00 $2,005,908.00 $ 89,092.00 $46,200.00 $ 34,600.00 $ 692.00 $100,000.00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

   M

Schedule of Expected Cash Collections Collection of Cash Sales Credit Sales: Collected Month of Sale Collected Month After Sale Total Collections 20 Budgeted Costs of Goods Sold Add Desired Ending Inventiory Total Inventory Needs Deduct Beginning Inventory Total Purchases Schedule of Cash Disbursements-Inventory Inventory Purchases Budget Operating Expenses: Salaries and Wages Shipping Advertising Total Cash Disbursements 5 Cash Budget Inventory Purchases: Paid Month of Purchases Paid Month After Purchases Total Cash Disbursements Schedule of Cash Disbursements-Operating Expenses Cah Balance Beginning Add Cash Collections Total Cash Available Less Cash Disbursements: For Inventory Purchases For Operating Expenses For Land Purchases For Dividends Total Cash Disbursements Excess (Deficiency) of Cash Financing: Borrowed from Bank Principal Repayment Interest Paid Cash Balance, Ending JUL Expenses $ 180,000.00 $210,000.00 $240,000.00 $ 210,000.00 $245,000.00 $280,000.00 $ 175,000.00 $210,000.00 $245,000.00 $ 565,000.00 $665,000.00 $765,000.00 AUG $ 330,000.00 $385,000.00 $440,000.00 $ 57,750.00 $66,000.00 $49,500.00 $ 387,750.00 $451,000.00 $489,500.00 $ 100,000.00 $57,750.00 $66,000.00 $ 287,750.00 $393,250.00 $423,500.00 JUL JUL JUL AUG JUL AUG $ 115,100.00 $157,300.00 $169,400.00 $ 110,000.00 $172,650.00 $235,950.00 $225,100.00 $329,950.00 $405,350.00 SEP AUG 0 SEP $34,600.00 $ 170,000.00 $190,000.00 $210,000.00 $ 12,000.00 $14,000.00 $16,000.00. $ 12,500.00 $12,500.00 $12,500.00 $ 194,500.00 $216,500.00 $238,500.00 AUG SEP SEP $100,000.00 $100,000.00 $183,258.00 $565,000.00 $665,000.00 $765,000.00 $665,000.00 $765,000.00 $948,258.00 SEP $225,100.00 $329,950.00 $405,350.00 $194,500.00 $216,500.00 $238,500.00 $180,000.00 0 $191,008.00 0 $25,000.00 $599,600.00 $546,450.00 $859,858.00 $65,400.00 $218,550.00 $88,400.00 $11,600.00 0 $34,600.00 0 $692.00 $100,000.00 $183,258.00 $100,000.00 Q3 Totals $ 630,000.00 $ 735,000.00 $ 630,000.00 1995000 Q3 $1,155,000.00 $ 173,250.00 $1,328,250.00 $223,750.00 $1,104,500.00 Q3 $ 508,350.00 $ 518,600.00 $ 960,400.00 Q3 $570,000.00 $ 42,000.00 $ 37,500.00 $ 649,500.00 Q3 $ 100,000.00 $1,995,000.00 $2,095,000.00 $ 960,00.00 $ 649,500.00 $ 371,008.00 $ 25,000.00 $2,005,908.00 $89,092.00 $ 46,200.00 $ 34,600.00 692.00 $100,000.00 $
Transcribed Image Text:Schedule of Expected Cash Collections Collection of Cash Sales Credit Sales: Collected Month of Sale Collected Month After Sale Total Collections 20 Budgeted Costs of Goods Sold Add Desired Ending Inventiory Total Inventory Needs Deduct Beginning Inventory Total Purchases Schedule of Cash Disbursements-Inventory Inventory Purchases Budget Operating Expenses: Salaries and Wages Shipping Advertising Total Cash Disbursements 5 Cash Budget Inventory Purchases: Paid Month of Purchases Paid Month After Purchases Total Cash Disbursements Schedule of Cash Disbursements-Operating Expenses Cah Balance Beginning Add Cash Collections Total Cash Available Less Cash Disbursements: For Inventory Purchases For Operating Expenses For Land Purchases For Dividends Total Cash Disbursements Excess (Deficiency) of Cash Financing: Borrowed from Bank Principal Repayment Interest Paid Cash Balance, Ending JUL Expenses $ 180,000.00 $210,000.00 $240,000.00 $ 210,000.00 $245,000.00 $280,000.00 $ 175,000.00 $210,000.00 $245,000.00 $ 565,000.00 $665,000.00 $765,000.00 AUG $ 330,000.00 $385,000.00 $440,000.00 $ 57,750.00 $66,000.00 $49,500.00 $ 387,750.00 $451,000.00 $489,500.00 $ 100,000.00 $57,750.00 $66,000.00 $ 287,750.00 $393,250.00 $423,500.00 JUL JUL JUL AUG JUL AUG $ 115,100.00 $157,300.00 $169,400.00 $ 110,000.00 $172,650.00 $235,950.00 $225,100.00 $329,950.00 $405,350.00 SEP AUG 0 SEP $34,600.00 $ 170,000.00 $190,000.00 $210,000.00 $ 12,000.00 $14,000.00 $16,000.00. $ 12,500.00 $12,500.00 $12,500.00 $ 194,500.00 $216,500.00 $238,500.00 AUG SEP SEP $100,000.00 $100,000.00 $183,258.00 $565,000.00 $665,000.00 $765,000.00 $665,000.00 $765,000.00 $948,258.00 SEP $225,100.00 $329,950.00 $405,350.00 $194,500.00 $216,500.00 $238,500.00 $180,000.00 0 $191,008.00 0 $25,000.00 $599,600.00 $546,450.00 $859,858.00 $65,400.00 $218,550.00 $88,400.00 $11,600.00 0 $34,600.00 0 $692.00 $100,000.00 $183,258.00 $100,000.00 Q3 Totals $ 630,000.00 $ 735,000.00 $ 630,000.00 1995000 Q3 $1,155,000.00 $ 173,250.00 $1,328,250.00 $223,750.00 $1,104,500.00 Q3 $ 508,350.00 $ 518,600.00 $ 960,400.00 Q3 $570,000.00 $ 42,000.00 $ 37,500.00 $ 649,500.00 Q3 $ 100,000.00 $1,995,000.00 $2,095,000.00 $ 960,00.00 $ 649,500.00 $ 371,008.00 $ 25,000.00 $2,005,908.00 $89,092.00 $ 46,200.00 $ 34,600.00 692.00 $100,000.00 $
Budgeted Income Statement for Septmeber 30th Sales Less Variable Costs: Cost of Goods Sold Wages Shipping Contribution Margin Less Fixed Costs: Salaries Advertising Depreciation Interest Net Income +
Transcribed Image Text:Budgeted Income Statement for Septmeber 30th Sales Less Variable Costs: Cost of Goods Sold Wages Shipping Contribution Margin Less Fixed Costs: Salaries Advertising Depreciation Interest Net Income +
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Frauds in Accounting information system (AIS)
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS