Cash Disbursements Assume that Waycross Manufacturing manages its cash flow from its home office. Waycross controls cash disbursements by category and month. In setting its budget for the next six months, beginning in July, it used the following managerial guidelines: Category Purchases Payroll Loan Payments Pay total amount due each month. Guidelines Pay half in current and half in following month. Pay 80 percent in current month and 20 percent in following month. Predicted activity for selected months follow: May June July August $30,000 $42,000 $52,000 $52,000 Payroll 100,000 110,000 130,000 100,000 Loan Payments 10,000 10,000 14,000 14,000 Category Purchases Prepare a schedule showing cash disbursements by account for July and August. Waycross Manufacturing Schedule of Cash Disbursements For the Months of July and August July August Accounts payable $ Payroll Loan payments Total $ $ $

Cash Disbursements Assume that Waycross Manufacturing manages its cash flow from its home office. Waycross controls cash disbursements by category and month. In setting its budget for the next six months, beginning in July, it used the following managerial guidelines: Category Purchases Payroll Loan Payments Pay total amount due each month. Guidelines Pay half in current and half in following month. Pay 80 percent in current month and 20 percent in following month. Predicted activity for selected months follow: May June July August $30,000 $42,000 $52,000 $52,000 Payroll 100,000 110,000 130,000 100,000 Loan Payments 10,000 10,000 14,000 14,000 Category Purchases Prepare a schedule showing cash disbursements by account for July and August. Waycross Manufacturing Schedule of Cash Disbursements For the Months of July and August July August Accounts payable $ Payroll Loan payments Total $ $ $

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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