Month | April | May | June |
Beginning cash balance (closing of last month) (a) | $122,000 (given) | $153,600 | $241,350 |
Receipts | |||
Cash receipts (30% of current months' sales) | $415,000 x 30% = $124,500 | $364,000 x 30% = $109,200 | $452,000 x 30% = $135,600 |
Cash collections from credit sales (65% of previous months' sales) | $342,000 x 65% = $222,300 | $415,000 x 65% = $269,750 | $364,000 x 65% = $236,600 |
Total cash available (b) | $346,800 | $378,950 | $372,200 |
Payments | |||
Purchases (purchases of previous month) | $184,000 (given) | $192,000 | $180,000 |
Wages, taxes and insurance | $81,000 | $76,500 | $105,200 |
Interest | $10,700 | $10,700 | $10,700 |
Equipment purchases | $39,500 | $12,000 | $160,000 |
Total cash disbursements (c) | $315,200 | $291,200 | $455,900 |
Ending cash balance (a + b - c) | $153,600 | $241,350 | $157,650 |
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