ANSWERS Group Activity _3 Chapter 23

ANSWERS Group Activity _3 Chapter 23 - 1) Review the...

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1) Review the information of the reverse side of this page and then in the space below prepare a sales budget, purchases budget and cash budget for March, April and May. March April May Sales in units 19,000 18,750 21,000 Price per unit $22 $20 $22 Total sales $418,000 $375,000 $462,000 March April May Sales 19,000 18,750 21,000 Plus ending inventory 3,750 4,200 4,400 Less beginning inventory 3,800 3,750 4,200 Required purchases 18,950 19,200 21,200 Price per unit $14 $14 $14 Total purchases $265,300 $268,800 $296,800 March April May Beginning Cash $60,000 $65,850 $50,000 Plus cash receipts Collections from customers (see schedule) 419,650 395,300 399,650 From loan 5,775 48,650 Less cash payments Purchases 265,300 268,800 296,800 Advertising 28,500 28,125 31,500 Rent 20,000 20,000 20,000 Salaries 100,000 100,000 100,000 Ending Cash $65,850 $50,000 $50,000 March April May from January sales $79,200 $0 $0 from February sales 173,250 99,000 0 from March sales 167,200 146,300 83,600 from April sales
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This note was uploaded on 08/31/2009 for the course ACC 310F taught by Professor Verduzco during the Fall '07 term at University of Texas.

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ANSWERS Group Activity _3 Chapter 23 - 1) Review the...

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