Question

Bramble Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2017. January...

Bramble Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2017.

January

February

Sales

$ 361,300 $ 401,400

Purchases

120,400 132,000

Salaries

83,000 81,100

Administrative expenses

70,200 73,600

Selling expenses

80,000 87,400


All sales and purchases are on account. Budgeted collections and disbursement data are given below. All other expenses are paid in the month incurred except for administrative expenses, which include $ 1,000 of depreciation per month.

Other data.

1. Collections from customers: January $ 333,800; February $ 378,000.
2. Payments for purchases: January $ 102,600; February $ 142,300.
3. Other receipts: January: collection of December 31, 2016, notes receivable $ 18,700; February: proceeds from sale of securities $ 5,700.
4. Other disbursements: February $ 12,500 cash dividend.


The company’s cash balance on January 1, 2017, is expected to be $ 48,700. The company wants to maintain a minimum cash balance of $ 63,330

Homework Answers

Answer #1

Cash budget :

January February
Beginning balance 48700 6640066
Collection from customer 333800 378000
Collection of notes receivable 18700
Proceeds from sale of secruities 5700
Total cash receipts 352500 383700
Total Cash available 401200 450100
Cash disbursements
Payment for purchase 102600 142300
Salaries expense 83000 81100
Administrative expenses 69200 72600
Selling expenses 80000 87400
other disbursements 12500
Total cash disbursement 334800 395900
Preliminary cash balance 66400 54200
Loan (repayment) 0 9130
Ending balance 66400 63330
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Bramble Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2017. January...
Bramble Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2017. January February Sales $ 361,300 $ 401,400 Purchases 120,400 132,000 Salaries 83,000 81,100 Administrative expenses 70,200 73,600 Selling expenses 80,000 87,400 All sales and purchases are on account. Budgeted collections and disbursement data are given below. All other expenses are paid in the month incurred except for administrative expenses, which include $ 1,000 of depreciation per month. Other data. 1. Collections from customers: January $...
Marigold Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2017. January...
Marigold Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2017. January February Sales $360,400 $401,700 Purchases 121,900 131,000 Salaries 83,000 81,600 Administrative expenses 71,700 74,300 Selling expenses 78,400 86,600 All sales and purchases are on account. Budgeted collections and disbursement data are given below. All other expenses are paid in the month incurred except for administrative expenses, which include $1,100 of depreciation per month. Other data. 1. Collections from customers: January $336,800; February $378,600. 2....
Blue Spruce Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2017....
Blue Spruce Corp. prepares monthly cash budgets. Here are relevant data from operating budgets for 2017. January February Sales $360,700 $401,100 Purchases 121,500 131,400 Salaries 84,600 81,000 Administrative expenses 71,000 73,700 Selling expenses 79,000 86,900 All sales and purchases are on account. Budgeted collections and disbursement data are given below. All other expenses are paid in the month incurred except for administrative expenses, which include $1,200 of depreciation per month. Other data. 1. Collections from customers: January $328,100;February $378,200. 2....
Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows:...
Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows: January February Sales $375,120 $416,800 Direct materials purchases 125,040 130,250 Direct labor 93,780 104,200 Manufacturing overhead 72,940 78,150 Selling and administrative expenses 82,318 88,570 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases...
Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows....
Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows. January February Sales $ 432,000 $ 480,000 Direct materials purchases 144,000 150,000 Direct labor 108,000 120,000 Manufacturing overhead 84,000 90,000 Selling and administrative expenses 94,800 102,000 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct...
Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows....
Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2020 are as follows. January February Sales $360,000 $400,000 Direct materials purchases 120,000 125,000 Direct labor 90,000 100,000 Manufacturing overhead 70,000 75,000 Selling and administrative expenses 79,000 85,000 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale, and 20% in the second month following the sale. Sixty percent (60%) of direct materials purchases...
Problem 23-4A Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are...
Problem 23-4A Colter Company prepares monthly cash budgets. Relevant data from operating budgets for 2017 are as follows:        January        February Sales       $375,840       $417,600 Direct materials purchases       125,280       130,500 Direct labor       93,960       104,400 Manufacturing overhead       73,080       78,300 Selling and administrative expenses       82,476       88,740 All sales are on account. Collections are expected to be 50% in the month of sale, 30% in the first month following the sale,...
Oriole Company expects to have a cash balance of $57,550 on January 1, 2017. These are...
Oriole Company expects to have a cash balance of $57,550 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017. 1. Collections from customers: January $82,550, February $157,550. 2. Payments to suppliers: January $51,550, February $86,550. 3. Wages: January $30,850, February $40,850. Wages are paid in the month they are incurred. 4. Administrative expenses: January $21,850, February $24,850. These costs include depreciation of $1,000 per month. All other costs are paid as...
Ivanhoe Company expects to have a cash balance of $56,450 on January 1, 2017. These are...
Ivanhoe Company expects to have a cash balance of $56,450 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017. 1. Collections from customers: January $81,450, February $156,450. 2. Payments to suppliers: January $50,450, February $85,450. 3. Wages: January $31,980, February $41,980. Wages are paid in the month they are incurred. 4. Administrative expenses: January $22,980, February $25,980. These costs include depreciation of $1,000 per month. All other costs are paid as...
Sunland Company expects to have a cash balance of $62,450 on January 1, 2017. These are...
Sunland Company expects to have a cash balance of $62,450 on January 1, 2017. These are the relevant monthly budget data for the first two months of 2017. 1. Collections from customers: January $87,450, February $162,450. 2. Payments to suppliers: January $56,450, February $91,450. 3. Wages: January $31,370, February $41,370. Wages are paid in the month they are incurred. 4. Administrative expenses: January $22,370, February $25,370. These costs include depreciation of $1,000 per month. All other costs are paid as...