Draw a schedule of cash disbursements for April and May

Assignment Help Accounting Basics
Reference no: EM132750559

Question - Cash Disbursement - Timber Company is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 70 percent of sales. Lumber purchases and payments are to be made during the month preceding the month of sale. Wages are estimated at 15 percent of sales and are paid during the month of sale. Other operating costs amounting to 10 percent of sales are to be paid in the month following the month of sale. Additionally, a monthly lease payment of $64,000 is paid for computer services. Sales revenue is forecast as follows:

Month Sales Revenue

February $220,000

March 260,000

April 270,000

May 310,000

June 290,000

July 330,000

Required - Draw a schedule of cash disbursements for April, May, and June. Do not use a negative sign with your answers.

Reference no: EM132750559

Questions Cloud

Which political tactics were described in the case : Which political tactics were described in the case? What are the sources of power for Jack Ma's leadership style? In what ways are indirect ties, as powerful.
Workplace and its interconnectivity to diversity : Briefly discuss the Practical Steps for Creating an Inclusive Workplace and its interconnectivity to Diversity - specifically within the workplace.
Case modeling : Outline the primary ways in which the traditional approach to modeling a use case differs from an object-oriented approach
What are three public relations risks : What are three Public Relations risks in reporting ethical and legal incidents in a healthcare organization, or choosing not to report them? Provide References.
Draw a schedule of cash disbursements for April and May : A monthly lease payment of $64,000 is paid for computer services. Draw a schedule of cash disbursements for April and May
Cache memory and multicore processors : From the e-Activity, determine the type of cache memory (i.e., Level 1, Level 2, or another type) that resides on a computer that you own or on a computer
Identify strategic steps air new zealand can take : Identify strategic steps Air New Zealand can take to ensure it is effective and explain how the New Zealand workplace context informs your recommendations.
Data does facebook and twitter generate : How much data can you store on a typical hard drive today? How much data does Facebook and Twitter generate?
What was the sales-volume variance for the current period : The actual sales for the period were 10,000 units of TS at $19 per unit. What was the sales-volume variance for the current period

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd