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Assign6-4

# Assign6-4 - Problem 7-24A Part 1 Schedule of expected cash...

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Problem 7-24A Part 1. Schedule of expected cash collection April May June Quarter Cash Sales 69000 70800 75000 214800 Credit Sales 40000 46000 47200 133200 Total Collection 109000 116800 122200 348000 Part 2. Merchandise Purchase Budget April May June Quarter Budgeted cost of goods sold 80,500 82,600 87,500 250,600 Add desired ending inventory 20,650 21,875 62,650 105,175 Total needs 101,150 104,475 150,150 355,775 Less Beginning inventory 20125 20650 21875 62650 Required Purchases 81,025 83,825 128,275 293,125 Schedule of Expected Cash Disbursements - Merchandise Purchases April May June Quarter March Purchases 62,250 62,250 April Purchases 16,205 64,820 81,025 May Purchases 16,765 67,060 83,825 June Purchases 25655 25,655 Total disbursements 78,455 81,585 92,715 252,755 Part 3. Schedule of Expected Cash disbursements - Selling and Administrative Expenses April May June Quarter Commission 17,000 17,000 17,000 51,000 Rent 6,000 6,000 6,000 18,000 Other Expenses 3,450 3,540 3,750 10,740 Total disbursements 26,450 26,540 26,750 79,740 Part 4.

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( The company had to take a loan of \$18,000 in the beginning of May in order to have a minimum beginning cash balance of \$15,000. But they paid it off along with interest at the end of June, and I am not sure if this is how you post it in to the chart below.) Cash Budget
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Assign6-4 - Problem 7-24A Part 1 Schedule of expected cash...

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