Solution-Important figures from the budget of nashville

Important figures from the budget of nashville nougats

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Reference no: EM131412871

Calculating the Cash Budget [LO3] Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2015:

	APRIL	MAY	JUNE
Credit sales	$374,400	$349,500	$420,500
Credit purchases	148,900	169,300	200,300
Cash disbursements
Wages, taxes, and expenses	54,340	70,300	75,170
Interest	12,580	12,580	12,580
Equipment purchases	88,800	135,000	0

The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2015, credit sales were $235,000 and credit purchases were $161,300. Using this information, complete the following cash budget:

	APRIL	MAY	JUNE
Beginning cash balance	$135,000
Cash receipts
Cash collection from credit sales
Total cash available
Cash disbursements
Purchases
Wages, taxes, and expenses
Interest
Equipment purchases
Total cash disbursements
Ending cash balance

Reference no: EM131412871

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Important figures from the budget of nashville nougats : Calculating the Cash Budget [LO3] Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2015:

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Important figures from the budget of nashville nougats

Reference no: EM131412871

Reference no: EM131412871

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