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The following data are from the budget of Ritewell Publishers. Half the company's sales are transacted on a cash basis. The other half are paid for with a 1-month delay. The company pays all of its credit purchases with a 1-month delay. Credit purchases in January were S110, and total sales in January were $564. February March April $ 380 $ 360 $ 340 Total sales Cash purchases Credit purchases Labor and administrative purchases Taxes, interest, and dividends Capital expenditures 110 120 100 80 70 80 70 70 70 50 50 50 180 Complete the following cash budget. (Leave no cells blank. Enter '0' when necessary. Negative amounts should be indicated by a minus sign.)

The following data are from the budget of Ritewell Publishers. Half the company's sales are transacted on a cash basis. The other half are paid for with a 1-month delay. The company pays all of its credit purchases with a 1-month delay. Credit purchases in January were S110, and total sales in January were $564. February March April $ 380 $ 360 $ 340 Total sales Cash purchases Credit purchases Labor and administrative purchases Taxes, interest, and dividends Capital expenditures 110 120 100 80 70 80 70 70 70 50 50 50 180 Complete the following cash budget. (Leave no cells blank. Enter '0' when necessary. Negative amounts should be indicated by a minus sign.)

FINANCIAL ACCOUNTING
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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The following data are from the budget of Ritewell Publishers. Half the company's sales are transacted on a cash basis. The other half are paid for with a 1-month delay. The company pays all of its credit purchases with a 1-month delay. Credit purchases in January were $110, and total sales in January were $564. February March $360 April $ 340 Total sales $ 380 Cash purchases Credit purchases Labor and administrative purchases Taxes, interest, and dividends Capital expenditures 110 120 100 80 70 80 70 70 70 50 50 50 180 Complete the following cash budget. (Leave no cells blank. Enter '0' when necessary. Negative amounts should be indicated by a minus sign.) February March April Sources of cash Collections on current sales $ 180 $ 190 $ 170 Collections on amounts receivable $ 282 $ 180 $ 190 Total sources of cash $ 462 $ 370 $ 360 Uses of cash Payments of accounts payable $ 110 $ 80 $ 70 Cash purchases 110 $ 120 100 Labor and administrative expenses $ 70 $ 70 $ 70 Capital expenditures $ 180 $ $ Taxes, interest, and dividends $ 50 $ 50 50 Total uses of cash $ 520 $ 320 $ 290 Net cash inflow $ (58) $ 50 70 Cash at start of period 188 + Net cash inflow = Cash at end of period + Minimum operating cash balance = Cumulative short-term financing required 2$ (58) s 50 2$ 70 130 $ 50 $ 70 $ 180 $ 180 $ 180 2$ 50 $ 130 $ 110 %24 %24 %24
Transcribed Image Text:The following data are from the budget of Ritewell Publishers. Half the company's sales are transacted on a cash basis. The other half are paid for with a 1-month delay. The company pays all of its credit purchases with a 1-month delay. Credit purchases in January were $110, and total sales in January were $564. February March $360 April $ 340 Total sales $ 380 Cash purchases Credit purchases Labor and administrative purchases Taxes, interest, and dividends Capital expenditures 110 120 100 80 70 80 70 70 70 50 50 50 180 Complete the following cash budget. (Leave no cells blank. Enter '0' when necessary. Negative amounts should be indicated by a minus sign.) February March April Sources of cash Collections on current sales $ 180 $ 190 $ 170 Collections on amounts receivable $ 282 $ 180 $ 190 Total sources of cash $ 462 $ 370 $ 360 Uses of cash Payments of accounts payable $ 110 $ 80 $ 70 Cash purchases 110 $ 120 100 Labor and administrative expenses $ 70 $ 70 $ 70 Capital expenditures $ 180 $ $ Taxes, interest, and dividends $ 50 $ 50 50 Total uses of cash $ 520 $ 320 $ 290 Net cash inflow $ (58) $ 50 70 Cash at start of period 188 + Net cash inflow = Cash at end of period + Minimum operating cash balance = Cumulative short-term financing required 2$ (58) s 50 2$ 70 130 $ 50 $ 70 $ 180 $ 180 $ 180 2$ 50 $ 130 $ 110 %24 %24 %24
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