Assignment ZIQI WANG 3320.docx - 1 Schedule of expected...

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1. Schedule of expected cash collection: April May June Quarter Cash sales (60%) $36,000 $43,200 $54,000 $133,200 Credit sales (40%) 20,000 24,000 28,800 72,800 Total collections 56,000 67,200 82,800 206,000 2. Schedule of inventory purchases and expected cash disbursements for purchases: April May June Quarter Budgeted cost of goods sold (75%) $45,000 $54,000 $67,500 $166,500 Add desired ending inventory (80%) 43,200 54,000 28,800 (48,000*0.75*0.8 ) 28,800 Total needs 88,200 108,000 96,300 195,300 Less beginning inventory 36,000 43,200 54,000 36,000 Required purchases 52,200 64,800 42,300 159,300 Schedule of expected cash disbursements for purchases:
April May June Quarter March $21,750 21,750 April 26,100 26,100 52,200 May 32,400 32,400 64,800 June 21,150 21,150 Total disbursements 47,850 58,500 53,550 159,900 3. Schedule of expected cash disbursements for operating expenses: April May June Quarter Salaries and

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