Here are the relevant estimates for the budget preparation of Marvel Corporation for the fourth quarter of 2022: Credit sales Credit purchases Cash disbursements: Wages, taxes, and expenses Interest Equipment Credit sales collections: Collected in month of sale Collected month after sale Never collected September credit sales September credit purchases Beginning cash balance instructions: October 1428 896 857 338 390 432 33 488 0 36% 62% 2% 1271222 762 733 574 653 November 1661 520 996 979 443 094 33 488 177 968 2.1 Explain the role of cash budget. 2.2 Using the above information, complete the following cash budget. purchases are paid one month after the purchase. December 1227 856 736 714 377 608 33 488 107 856 Assume that all credit
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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