Omicron Inc. Capital Expenditures Budget r the Four Years Ending December 31, 20Y6-20Y9 20Y7 20Y6 20Y8 LA 20Y9

11. Calculating the Cash Budget Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. LO 3 April May June $598,000 282,000 $689,000 $751,000 Credit sales 302,000 338,000 Credit purchases Cash disbursements 137,000 129,000 179,000 Wages, taxes, and expenses 15,600 15,600 15,600 Interest 53,500 6,600 248,000 Equipment purchases The company predicts that 5 percent of its credit sales will never be collected 35 percent of its sales will be collected in the month of the sale, and the re- maining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $561,000. Using this information, com- plete the following cash budget: April May June $182,000 Beginning cash balance Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases 289,000 Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements…

E 20-9 Preparation of fund balance sheet A general ledger trial balance at June 30, 2013, for Millar City is as follows:    Debits  Credits Cash     $12,000     —       Taxes receivable 30,000     —       Allowance for uncollectible taxes —       $2,000     Due from other funds 3,000     —       Supplies inventory, June 30, 2013 4,000     —       Estimated revenues 300,000     —       Expenditures 290,000     —       Expenditures—prior year 5,000     —       Encumbrances 6,000     —       Vouchers payable —       13,000     Due to other funds —       5,000     Reserve for encumbrances —       6,000     Reserve for encumbrances—prior year —       5,000     Fund balance—nonspendable —       4,000     Fund balance—unassigned —       10,000     Appropriations —       300,000     Revenues   —       305,000       $650,000     $650,000…

The City of Bedford Falls debt service fund budgeted $150,000 (2 payments of $75,000) for interest and an annual principal payment of $500,000. Funding will be transferred from the general fund at the time payments are to be made. Interest payments will be December 15 and June 15. Principal will be paid on June 15. Journalize the budget for July 1 Journal any necessary December 15 entry(ies) What is the amount of accrued interest to be recorded in the Debt Service Fund at June 30?

Problem 13-58 (Algo) Budgeted Purchases and Cash Flows (LO 13-4, 5, 6) Mast Corporation seeks your assistance in developing cash and other budget information for May, June, and July. At April 30, the company had cash of $12,000, accounts receivable of $859,000, inventories of $112,815, and accounts payable of $36,052. The budget is to be based on the following assumptions.   Each month’s sales are billed on the last day of the month. Customers are allowed a 2 percent discount if payment is made within 10 days after the billing date. Receivables are recorded in the accounts at their gross amounts (not net of discounts). The billings are collected as follows: 65 percent within the discount period, 20 percent by the end of the month, and 12 percent by the end of the following month. Three percent is uncollectible.   Purchase data are as follows.   Of all purchases of merchandise and selling, general, and administrative expenses, 58 percent is paid in the month purchased and the…

Graded HW i Fixed Budget For Year Ended December 31 $ Sales 3,171,000 Costs Direct materials 996,600 Direct labor 226,500 Sales staff commissions 60,400 Depreciation-Machinery 295,000 Supervisory salaries 203,000 Shipping 226,500 Sales staff salaries (fixed annual 250,000 amount) Administrative salaries 556,450 Depreciation-Office equipment 198,000 Income $ 158,550 Saved Required: 1&2. Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. 3. The company's business conditions are improving. One possible result is a sales volume of 18,100 units. Prepare a simple budgeted income statement if 18,100 units are sold. Complete this question by entering your answers in the tabs below. Req 1 Req 3 and 2 Prepare flexible budgets at sales volumes of 14,100 and 16,100 units. Sales Variable costs Direct materials Direct labor Sales staff commissions Shipping Total variable costs Contribution margin Fixed costs PHOENIX COMPANY Flexible Budgets For Year Ended December 31 Flexible…

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Month ($) Wages ($) From the following information, prepare a monthly cash budget for the three months ending 31st December 2019. Sales ($) Materials Other Expenses ($) Jun. (A) 3,000 1,800 650 385 Jul. (A) 3,250 2,000 750 385 Aug. (A) 3,500 2,400 750 425 Sep.(A) 3,750 2,250 .750 475 Oct. (E) 4,000 2,300 800 500 Nov. (E) 4,250 2,500 900 550 Dec. (E) 4,500 2,600 1,000 575 (A) Actual; (E) - Estimated. = The credit terms are as follows: • Sales -10% of sales are in cash. On average, 50% of credit sales are paid in the next month, while the other 50% are paid two months after the sale. • Creditors for material are paid 2 months after purchase. • Wages and other expenses are paid the same month. The cash and bank balance on 1st October is expected to be $1,500. Other information is given as follows: • Plant and machinery are to be installed in August at a cost of $24,000. This sum will be paid in monthly installments of $500 each from 1st October. • Dividends from investments amounting to…

Denison Specialty Hospital Operating Budget For Year Ending Last Day of Next Year Revenues Net Patient Revenue $7,980,000 Gift Shop Revenue 120,000 Endowment Income 50,000 Total Budgeted Revenue $8,150,000 Expenses Salaries $6,900,000 Supplies 540,000 Bad Debts 380,000 Rent 300,000 Depreciation Expense 100,000 Interest Expense (122,647) Total Budgeted Expense 8,097,353 Budgeted Excess of Revenues over Expenses $52,647

only need total budgeted assets