Budgeted Financial Statements.xlsx - May Cash Sales May...

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May Cash Sales - May $60,000.00 Collections on Accounts Reveievable April 30th Balance $54,000.00 June (200,000-60,000)x0.5 $70,000.00 Total Cash Reciepts $184,000.00 Schedule of Cash payments for purchases April 30th Accounts payable balance $63,000.00 May purchases (120,000x0.4) $48,000.00 Total Cash Payments $111,000.00 Miden Company May Cash Budget Cash balance beginning $9,000.00 Add receipts $184,000.00 Total cash available $193,000.00 Less disbursements Purchase of inventory $111,000.00 S&A expenses $72,000.00 purchase of equipment $6,500.00 Total cash Disembursements $189,500.00 Excess of receipts over disbursements Financing Borrowing $20,000.00 Repayments -$14,500.00 Interest -$100.00 Total financing $5,400.00 Cash balance ending $8,900.00 Minden Company Budgeted income statement

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