excelproject_3sirenareyes - Assumptons ExpecTed Sales June...

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Assumptions Expected Sales: June $ 130,000.00 July $ 126,000.00 August $ 121,000.00 September $ 110,000.00 October $ 114,000.00 Credit Sales 45% Cash Sales 55% Gross Margin 30% of sales CGS 70% of sales DEI 60% of next month's CGS Operating Expenses: Commissions 5% of sales Other Operating Expenss 8% of sales Rent $ 3,500.00 Depreciation $ 1,000.00 Inventory Purchases 60% paid in month of purchase 40% paid one month after purchase Equipment Purchase $ 5,000.00 in August Assets Cash $ 50,000.00 Accounts Receivable $ 71,500.00 Inventory $ 52,920.00 Plant & Equipment, net $ 105,000.00 Total Assets $ 279,420.00 Liabilities & Equity $ 279,420.00 Accounts Payable $ 36,400.00 Retained Earnings $ 243,020.00 12% New Borrowings: July Loan Interest Rate 1% per month Income Tax Rate of operating income
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San Marcos Collectibles Master Budget 3rd Quarter Sales Budget July August September Budgeted Sales Revenue $ 126,000.00 $ 121,000.00 $ 110,000.00 Cash Sales $ 69,300.00 $ 66,550.00 $ 60,500.00 Credit Sales $ 56,700.00 $ 54,450.00 $ 49,500.00 Total Sales Revenue $ 126,000.00 $ 121,000.00 $ 110,000.00 Cost of Goods Sold, Inventory and Purchases Budget July August Septemeber Budgeted Cost of Goods Sold Desired Ending Inventory Total Needs Beginning Inventory Required purchases Operating Expense Budget July August
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