The beginning balance of Accounts Receivable amounted to P 10,000 which was fully paid in April. 80%of the monthly sales computed in the budgeted sales forecast are collected in the month of sale while 20%of sales are collected the following month.Using the table below, prepare a cash collection budget for the month of April, May and June.Cash Collection BudgetAprilMayJuneTotalAccountsReceivable,beg.Collection fromMarchCollection fromАprilCollection fromМayCollection fromJuneTotal MonthlyCash Collection Imagine you are an owner of a company. Listed below are your budgeted monthly unit sales sold at P1oper unit.MarchAprilMayJuneJulyBudgetedMonthly Unit2,000.003,000.004,000.005,000.004,500.00SalesUsing the table below, prepare a sales budget for the month of April, May and June.Budgeted Sales ForecastАprilМayJuneTotalBudgetedMonthly UnitSalesUnit SellingPriceSales Budget

A cash budget is prepared to estimate the total cash received and total cash disbursement. It is…

The beginning balance of Accounts Receivable amounted to P 10,000 which was fully paid in April. 80% of the monthly sales computed in the budgeted sales forecast are collected in the month of sale while 20% of sales are collected the following month. Using the table below, prepare a cash collection budget for the month of April, May and June. Cash Collection Budget April Мay June Total Accounts Receivable, beg Collection from March Collection from April Collection from Маy Collection from June Total Monthly Cash Collection

The beginning balance of Accounts Receivable amounted to P 10,000 which was fully paid in April. 80% of the monthly sales computed in the budgeted sales forecast are collected in the month of sale while 20% of sales are collected the following month. Using the table below, prepare a cash collection budget for the month of April, May and June. Cash Collection Budget April Мay June Total Accounts Receivable, beg Collection from March Collection from April Collection from Маy Collection from June Total Monthly Cash Collection

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter8: Budgets And Bank Reconciliations

Section: Chapter Questions

Problem 2.5C

See similar textbooks

Similar questions

Styles Abuhatim LLC has given the following particulars. You are required to prepare a cash budget for the three months ending 31st December 2019 Months Sales Materials Wages ( OMR) Over heads (OMR) (OMR) (OMR) August September October 20000 10200 3800 1900 21000 10000 3800 2100 23000 9800 4000 2300 November 25000 10000 4200 2400 December 30000 10800 4500 2500 Credit terms are 1.. Sales /Debtors 10% sales are on Cash, 50% of the credit sales are collected in next month and the balance in the following month 2. Creditors- materials 2 months Wages 1 month -1 month Overheads 3. Cash balance on 1st October is expected to be Ro.8000 4. A machinery will be installed in August at a cost of RO.100000, the monthly instalment of RO.5000 is payable from October onwards 5. Dividend at 10% on preference share capital RO.300,000 will be paid on 1* December 2019 6. Advance to be received for the sale of vehicles RO.20000in December 7. Income tax to be received in December RO.5000
Q. Prepare a revenues budget for the year, assuming that Ever Clean charges customers $0.60 per square foot.
5. Using your sales pricing decision, prepare the following include monthly and yearly totals show all your work a. Sales budget b.
Imagine you are an owner of a company. Listed below are your budgeted monthly unit sales sold at P10 per unit. March April May June July Budgeted Monthly Unit Sales 2,000.00 3,000.00 4,000.00 5,000.00 4,500.00 Using the table below, prepare a sales budget for the month of April, May and June. Budgeted Sales Forecast April May June Total Budgeted Monthly Unit Sales 3,000 4,000 5,000 12,000 Unit Selling Price 10 10 10 Sales Budget 30,000 40,000 50,000 120,000 The beginning balance of Accounts Receivable amounted to P 10,000 which was fully paid in April. 80% of the monthly sales computed in the budgeted sales forecast are collected in the month of sale while 20% of sales are collected the following month. Using the table below, prepare a cash collection budget for the month of April, May and June. Cash Collection Budget April…
EX.22-06 Sales and Production Budgets Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, prepare (a) a sales budget and (b) a production budget. Estimated inventory (units), June 1 Desired inventory (units), June 30 Expected sales volume (units): East Region West Region Unit sales price Rumble 262 301 2,700 5,900 $140 Thunder 66 57 2,400 5,150 $205
Q.No. 2 Abuhatim LLC has given the following particulars. You are required to prepare a cash budget for the three months ending 31st December 2019 Months Sales Materials Wages Over heads (OMR) (OMR) (OMR) (OMR) 1900 August 20000 10200 3800 September 21000 10000 3800 2100 October 23000 9800 4000 2300 November 25000 10000 4200 2400 December 30000 10800 4500 2500 Credit terms are 1. Sales /Debtors 10% sales are on Cash , 50% of the credit sales are collected in next month and the balance in the following month 2. Creditors – materials 2 months Wages 1 month Over heads – 1 month 3. Cash balance on 1st October is expected to be Ro.8000 4. A machinery will be installed in August at a cost of RO.100000, the monthly instalment of RO.5000 is payable from October onwards 5. Dividend at 10% on preference share capital RO.300,000 will be paid on 1st December 2019 6. Advance to be received for the sale of vehicles RO.20000in December 7. Income tax tobe received in December RO.5000
Budgeting-Create a forecasted balance sheet from the following information. I need an explanation on how to get the accounts receivable, ending merchandise inventory, accounts payable, and owner's equity columns for the balance sheet. Data Section: Actual and Budgeted Unit Sales: April 1,500 May 1,000 June 1,600 July 1,400 August 1,500 September 1,200 Balance Sheet, May 31, 19X5 Cash $8,000 Accounts receivable 107,800 Merchandise inventory 52,800 Fixed assets (net) 130,000 -------- Total assets $298,600 ======== Accounts payable (merchandise) $74,800 Owner's equity 223,800 -------- Total liabilities & equity $298,600 ======== Average selling price $98 Average purchase cost per unit $55 Desired ending inventory (% of next…
4. Prepare a direct labor cost budget for August. Newport Inc. Direct Labor Cost Budget For the First Quarter Ending August 31 June July August First Quarter hr. hr. hr. hr. hrs. hrs. hrs. hrs. X$ X$ X$ 5. Prepare a factory overhead cost budget for August. Newport Inc. Factory Overhead Cost Budget For the First Quarter Ending August 31 June July August First Quarter Variable factory overhead: hrs. hrs. hrs. hrs. X$ X$ X$ X$ Fixed factory overhead: Total factory overhead cost
Use the following are budgeted data for Your Company, a merchandising company, to determine how many units need to be purchased in January: Budgeted Sales (at retail- what you sell for) January.................. $300,000 February................ $340,000 March.................... $400,000 April...................... $350,000 Cost of goods sold as a percentage of sales is 60%. The desired ending inventory is 75% of next month's sales. HINT: This is just a production budget tweaked to be calculated in dollars instead of units
The following data were obtained from the financial records of Sonicbrush, Inc., for March: Sales are expected to increase each month by 15%. Prepare a budgeted income statement.
* CengageNOWv2 | Online teachin x v.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false еВook Show Me How E Print Item Cash Budget The controller of Mercury Shoes Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: June July August Sales $160,000 $185,000 $200,000 Manufacturing costs 66,000 82,000 105,000 Selling and administrative expenses 40,000 46,000 51,000 Capital expenditures 120,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 60% are expected to be collected in the month following the sale and the remainder the following month (second month after sale). Depreciation, insurance, and property tax expense represent $12,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in February, and the annual property taxes are paid in November. Of the remainder of the manufacturing…
Sunland Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2022. Estimated unit sales Unit selling price Direct labor hours per unit Direct labor cost per hour January 11,280 $40 2.0 $7.0 February March April 13,160 12,220 10,340 $37.5 $37.5 2.0 $7.0 1.5 $7.0 $37.5 1.5 $8.0 May 10,340 $37.5 1.5 $8.0 Sunland has a labor contract that calls for a wage increase to $8.0 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1. Sunland expects to begin the year with 16,544 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month's sales, plus 40% of the second following month's sales. SUP