Reference no: EM13972973
1. Prepare a budget for this year for the Administrative Department at Tom's Toyota Company based on the following information:
![435_68-B-M-A-C-M (470)-1.png](https://secure.expertsmind.com/CMSImages/435_68-B-M-A-C-M (470)-1.png)
2. Big Bob's Discount Appliances expects sales of $5,000, $5,000, and $10,000 during April, May, and June (big sale in June). To build business, BigBob lets all customers buy on credit, and all do so. In the past, 50% of Big Bob's sales have been collected during the month of sale, 40% are collected the following month, and 10% the month after that. If this trend continues, what will be Big Bob's total cash collections in the month of June?
3. Little Louie's expects to have $100 in cash on hand at the beginning of June, and the company's target cash balance is $100. Net cash flow for June is minus $300. Assuming that Little Louie's borrows to meet short-term cash needs and pays back as soon as surplus cash is available, what will be the company's ending cash balance after financing at the end of June?
4. Ma & Pa Kettle's Chili Company has begun selling a new chili recipe and they want you to help them with next year's budgeted financial statements.Using the worksheet below, complete Ma & Pa's forecast and answers the questions which follow.
Assumptions:
To begin with, Ma & Pa are sure sales will grow 50% next year. Assume that is true. Then assume that COGS, Current Assets, and Current Liabilities all vary directly with Sales (that means if sales grows a certain percentage, then the account in question will grow by that same percentage). Assume that fixed expenses will remain unchanged and that $1,000 worth of new Fixed Assets will be obtained next year. Lastly, the current dividend policy will be continued next year.Ma & Pa Kettle Chili Company, Inc.Financial Forecast
![2094_68-B-M-A-C-M (470)-2.png](https://secure.expertsmind.com/CMSImages/2094_68-B-M-A-C-M (470)-2.png)
If this number is positive it means Ma & Pa need additional external funding to finance their projected asset growth. If this number is negative it means Ma & Pa have programmed too much financing for the amount of assets they project.
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