Using the following information: a. Beginning cash balance on March 1, $82,000. b. Cash receipts from sales, $308,000. c. Cash payments for direct materials, $132,000. d. Cash payments for direct labor, $76,000. e. Cash payments for overhead, $40,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $200 (1% of beginning loan balance of $20,000) h. Cash repayment of loan, $20,000. Prepare a cash budget for March for Gado Company. Total cash available Less: Cash payments for Total cash payments Preliminary cash balance Loan activity GADO COMPANY Cash Budget March $ 0 0 0

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Using the following information:
a. Beginning cash balance on March 1, $82,000.
b. Cash receipts from sales, $308,000.
c. Cash payments for direct materials, $132,000.
d. Cash payments for direct labor, $76,000.
e. Cash payments for overhead, $40,000.
f. Cash payments for sales commissions, $7,000
g. Cash payments for interest, $200 (1% of beginning loan balance of $20,000)
h. Cash repayment of loan, $20,000.
Prepare a cash budget for March for Gado Company.
Total cash available
Less: Cash payments for
Total cash payments
Preliminary cash balance
Loan activity
GADO COMPANY
Cash Budget
March
0
0
0
Transcribed Image Text:Using the following information: a. Beginning cash balance on March 1, $82,000. b. Cash receipts from sales, $308,000. c. Cash payments for direct materials, $132,000. d. Cash payments for direct labor, $76,000. e. Cash payments for overhead, $40,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $200 (1% of beginning loan balance of $20,000) h. Cash repayment of loan, $20,000. Prepare a cash budget for March for Gado Company. Total cash available Less: Cash payments for Total cash payments Preliminary cash balance Loan activity GADO COMPANY Cash Budget March 0 0 0
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