Mathematics
Mathematics, 11.10.2021 14:00, haymish5810

Gina's company, Daisy's Delights Barkery & Boutique (DDB&B) is in the process of preparing their cash budget for the month of August. They have provided you with the following sales
budget:
MAY
JUNE
JULY AUGUST
GROSS SALES
$50,000
$60,000
$70,000 $80,000
CREDIT
CASH
Based on past experience, 10% of all sales are cash sales while 90% are credit sales. The
typical collection pattern for credit sales is 20% in the month of sale, 50% in the first month
following sale and 25% in the second month following sale. There is an estimated
uncollectible rate of 5%.
The ending cash budget at July 31 is projected to be $10,000. Budgeted costs for the month of
August are as follows: The minimum cash balance needed to start a month is $8,000. All
borrowing must be in increments of $1,000. All expenses are paid in the month incurred except
for inventory. Inventory is paid 1/3 in the month of purchase and 2/3 in the month following
purchase
Utilities expense
$5,000
July Purchases of supplies
$45,000
August Purchases of supplies $150,000
Salaries
$65,000
Administrative expenses
$20,000 (Includes $5,000 of depreciation expense)
Rent
$35,000
Amortization expense
$7,000
REQUIRED: (1) Prepare a schedule of BUDGETED CASH RECEIPTS FOR AUGUST
and (2) Prepare a CASH BUDGET FOR THE MONTH OF AUGUST, Assume total cash
receipts (collected) for Part (1) was $70,000


Gina's company, Daisy's Delights Barkery & Boutique (DDB&B) is in the process of preparing

answer
Answers: 1

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 18:30, nativebabydoll35
How do you solving the solution of each system using elimination?
Answers: 2
image
Mathematics, 21.06.2019 19:30, jrassicworld4ever
Need now max recorded the heights of 500 male humans. he found that the heights were normally distributed around a mean of 177 centimeters. which statements about max’s data must be true? a) the median of max’s data is 250 b) more than half of the data points max recorded were 177 centimeters. c) a data point chosen at random is as likely to be above the mean as it is to be below the mean. d) every height within three standard deviations of the mean is equally likely to be chosen if a data point is selected at random.
Answers: 1
image
Mathematics, 21.06.2019 20:30, alexialiles19
Max recorded the heights of 500 male humans. he found that the heights were normally distributed around a mean of 177 centimeters. which statements about max’s data must be true? a) the median of max’s data is 250 b) more than half of the data points max recorded were 177 centimeters. c) a data point chosen at random is as likely to be above the mean as it is to be below the mean. d) every height within three standard deviations of the mean is equally likely to be chosen if a data point is selected at random.
Answers: 2
image
Mathematics, 21.06.2019 23:30, JayceMeyers06
Arational number that is equivalent to -20/4?
Answers: 1
Do you know the correct answer?
Gina's company, Daisy's Delights Barkery & Boutique (DDB&B) is in the process of preparing...

Questions in other subjects:

Konu
Biology, 04.04.2020 07:36
Konu
Mathematics, 04.04.2020 07:36