a. Beginning cash balance on March 1, $73,000.b. Cash receipts from sales, $309,000.c. Cash payments for direct materials, $137,000.d. Cash payments for direct labor, $70,000.e. Cash payments for overhead, $42,000.f. Cash payments for sales commissions, $7,000g. Cash payments for interest, $110o (1% of beginning loan balance of $11,000)h. Cash repayment of loan, $11,00o.Prepare a cash budget for March for Gado Company.GADO COMPANYCash BudgetMarchTotal cash availableLess: Cash payments forTotal cash paymentsPreliminary cash balanceLoan activityEnding cash balanceLoan balance, end of month

Cash Budget is a statement showing how much cash would be required based on expected costs involved.…

a. Beginning cash balance on March 1, $73,000. b. Cash receipts from sales, $309,000. c. Cash payments for direct materials, $137,000. d. Cash payments for direct labor, $70,000. e. Cash payments for overhead, $42,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $110 (1% of beginning loan balance of $11,000) h. Cash repayment of loan, $11,000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March Total cash available Less: Cash payments for Total cash payments Preliminary cash balance Loan activity Ending cash balance Loan balance, end of month

a. Beginning cash balance on March 1, $73,000. b. Cash receipts from sales, $309,000. c. Cash payments for direct materials, $137,000. d. Cash payments for direct labor, $70,000. e. Cash payments for overhead, $42,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $110 (1% of beginning loan balance of $11,000) h. Cash repayment of loan, $11,000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March Total cash available Less: Cash payments for Total cash payments Preliminary cash balance Loan activity Ending cash balance Loan balance, end of month

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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