Here are some important figures from the budget of Nashville
Nougats, Inc., for the second quarter...
Here are some important figures from the budget of Nashville
Nougats, Inc., for the second quarter of 2018:
April
May
June
Credit sales
$
314,000
$
294,000
$
354,000
Credit purchases
122,000
145,000
170,000
Cash disbursements
Wages, taxes, and expenses
43,400
10,900
62,400
Interest
10,400
10,400
10,400
Equipment purchases
74,000
138,000
0
The company predicts that 5 percent of its credit sales will
never be collected, 40 percent of its sales will be collected in
the month of the sale,...
Here are some important figures from the budget of Nashville
Nougats, Inc., for the second quarter...
Here are some important figures from the budget of Nashville
Nougats, Inc., for the second quarter of 2009:
April
May
June
Credit sales
547,200
570,240
630,720
Credit purchases
211,680
252,720
288,710
Cash disbursements
Wages, other expenses
57,240
69,420
72,430
Interest
16,410
16,410
16,410
Equipment purchases
119,520
131,040
0
The Company predicts that 3 percent of its credit sales will
never be collected, 36 percent of its sales will be collected in
the month of sale, and the remaining 61 percent...
roblem 3
Here are some important figures from the budget of
Nashville Nougats, Inc., for the...
roblem 3
Here are some important figures from the budget of
Nashville Nougats, Inc., for the second quarter of 2012:
April
May
June
Credit sales
$
312,000
$
291,200
$
350,400
Credit purchases
118,240
141,040
166,800
Cash disbursements
Wages, taxes, and expenses
43,040
10,800
62,640
Interest
10,480
10,480
...
Here are some important figures from the budget of Cornell,
Inc., for the second quarter of...
Here are some important figures from the budget of Cornell,
Inc., for the second quarter of 2016:
April
May
June
Credit sales
$
318,000
$
298,000
$
358,000
Credit purchases
126,000
149,000
174,000
Cash disbursements
Wages, taxes, and expenses
43,800
11,300
62,800
Interest
10,800
10,800
10,800
Equipment purchases
78,000
146,000
0
The company predicts that 5 percent of its credit sales will
never be collected, 20 percent of its sales will be collected in
the month of the sale, and...
Here are some important figures from the budget of Marston,
Inc., for the second quarter of...
Here are some important figures from the budget of Marston,
Inc., for the second quarter of 2016:
April May June
Credit sales $ 415,000 $ 364,000 $ 452,000
Credit purchases 192,000 180,000 213,000
Cash disbursements
Wages, taxes, and expenses 81,000 76,500 105,200
Interest 10,700 10,700 10,700
Equipment purchases 39,500 12,000 160,000
The company predicts that 5 percent of its credit sales will
never be collected, 30 percent of its sales will be collected in
the month of the...
Calculating the Cash Budget
Here are some important figures from the budget of Cornell,
Inc., for...
Calculating the Cash Budget
Here are some important figures from the budget of Cornell,
Inc., for the second quarter of 2017:
April
May
June
Credit sales
$
327,000
$
307,000
$
367,000
Credit
purchases
135,000
158,000
183,000
Cash
disbursements
Wages, taxes,
and expenses
44,700
12,200
63,700
Interest
11,700
11,700
11,700
Equipment
purchases
87,000
164,000
0
The company predicts that 5 percent of its credit sales will
never be collected, 25 percent of its sales will be collected in
the...
The following is the sales budget for Profit, Inc., for the
first quarter of 2018:
January...
The following is the sales budget for Profit, Inc., for the
first quarter of 2018:
January
February
March
Sales budget
$
214,000
$
234,000
$
257,000
Credit sales are collected as follows:
60 percent in the month of the sale
25 percent in the month after the sale
15 percent in the second month after the sale
The accounts receivable balance at the end of the previous
quarter was $98,000 ($68,000 of which was uncollected December
sales).
a.
Calculate the...
Beech Corporation is a merchandising company that is preparing a
master budget for the third quarter...
Beech Corporation is a merchandising company that is preparing a
master budget for the third quarter of the calendar year. The
company’s balance sheet as of June 30th is shown below:
Beech Corporation
Balance Sheet
June 30
Assets
Cash
$
75,000
Accounts
receivable
140,000
Inventory
66,500
Plant and
equipment, net of depreciation
227,000
Total
assets
$
508,500
Liabilities and Stockholders’ Equity
Accounts
payable
$
88,000
Common
stock
311,000
Retained
earnings
109,500
Total
liabilities and stockholders’ equity
$
508,500
Exercise 8-12...
Cash Budget Khloe Company imports gift items from overseas and
sells them to gift shops and...
Cash Budget Khloe Company imports gift items from overseas and
sells them to gift shops and department stores throughout the
United States. Khloe Company provided the following information:
The October 31 balance in the cash account is $54,115. All sales
are on account. Sales in September were $960,000 and in October
were $1,340,000. November sales are expected to be $2,180,000. In
Khloe’s experience, 70 percent of sales are collected in the month
of sale and 26 percent are collected in...
Mast Corporation seeks your assistance in developing cash and
other budget information for May, June, and...
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 $11,000, accounts receivable of $861,000,
inventories of $130,800, and accounts payable of $36,982. 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...