Accounting Problem Set E 10-1

Accounting Problem Set E 10-1 - 0 1,000 Ending cash balance...

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1 2 Click on the "Cash Budget" tab. In each of the pink shaded cells, enter the requested information. Pay carefu attention to the rounding instructions. Incorrect answers will appear in RED
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l D.
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Go Cycles Operating Expense Budget for August and September, 2008 August September Salaries and commission Rent Expense Depreciation expense Insurance expense Total Operating Expenses
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Go Cycles Inventory, Purchases and Cost of Goods Sold Budget for August and September, 2008 August September Beginning Inventory Purchases Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold
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Battery Power Cash Budget October and November October November Beginning Cash Balance $10,500 $11,500 Cash Collections from Customers 11,000 15,000 Collections of note receivable 6,000 0 Cash available before financing 27,500 26,500 Purchases of inventory 13,000 13,900 Operating expenses 3,000 3,000 Total payments 16,000 16,900 Ending cash balance before financing 11,500 9,600 Minimum cash balance desired (10,000) (10,000) Cash excess (deficiency) 1,500 (400) Total effect of financing
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Unformatted text preview: 0 1,000 Ending cash balance $11,500 $10,600 Congratulations! You have successfully completed the Cash Budget for Battery Power. Battery Power Cash Budget October and November October November Beginning Cash Balance $10,500 $11,500 Cash Collections from Customers 11,000 12,000 Collections of note receivable 6,000 0 Cash available before financing 27,500 23,500 Purchases of inventory 13,000 13,900 Operating expenses 3,000 3,000 Total payments 16,000 16,900 Ending cash balance before financing 11,500 6,600 Minimum cash balance desired (10,000) (10,000) Cash excess (deficiency) 1,500 (3,400) Total effect of financing 0 4,000 Ending cash balance $11,500 $10,600 Congratulations! You have successfully completed the Cash Budget for Battery Power. Go Cycles Budgeted Income Statement for August and September, 2008 August September Sales revenue Cost of Goods Sold Gross Profit Operating expenses Operating Income Income Tax Expense Net income...
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This note was uploaded on 04/08/2008 for the course ACCT 1302 taught by Professor Venkateswar during the Spring '08 term at Trinity U.

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Accounting Problem Set E 10-1 - 0 1,000 Ending cash balance...

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