Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget. a. Beginning cash balance on June 1, $95,000. b. Cash receipts from sales, $418,000. c. Budgeted cash payments for purchases, $273,000. d. Budgeted cash payments for salaries, $96,000. e. Other budgeted cash expenses, $58,000. f. Cash repayment of bank loan, $33,000. g. Budgeted depreciation expense, $35,000.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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