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Free Essays Finance Accounting And Auditing Tax Preparation And Planning Schedule A And Total Collections

Essay About Schedule A And Total Collections

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Essay, Pages 1 (129 words)
Latest Update: July 10, 2021
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    • Accounting And AuditingInvestingBuying And Selling Homes
      • Tax Preparation And PlanningFunds

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Schedule A: Sales Budget
TOTAL
Recent and Forecasted Sales
62,000
75,000
38,000
175,000
Schedule B: Cash Collections
60% of current month sales
37,200
45,000
22,800
30% of previous month sales
7,500
18,600
22,500
10% of 2 months earlier
2,500
2,500
6,200
Total collections
47,200
66,100
51,500
Schedule C: Purchases
Desired ending inventory
6,000
6,000
6,000
Cost of goods sold
31,000
37,500
19,000
Total needed
37,000
43,500
25,000
less beginning inventory
-39,050
-8,050
-6,000
Total Purchases
(2050) or 0
35,450
19,000
Schedule D: Cash Disbursements
35,550
35,453
Cash receipts and disbursements:
Collections from customers
47,200
66,100
51,500
Cash disbursements for purchases
35,550
35,540
8,050
Wages and slaries
15,000
15,000
15,000
Miscellaneous
2,500
2,500
2,500
Fixtures
3,000
Dividends
1,500
Net cash receipts and disbursements
-15,400
48,350
-4,700
Excess of cash before financing
-15,400
48,450
27,890
Financing:
Borrowing
15,500
Repayments
-15,500
Interest
Total cash from financing
15,500
-15,758
Ending cash balance
5,100
37,692
32,992
Budgeted Income Statement
January-March 20X5
January-March Total
Sales
62,000
75,000
38,000
175,000
Cost of goods sold
31,000
37,500
19,000
87,500
Gross margin
31,000
37,500
19,000
87,500
Operating expenses:
Salaries and wages
15,000
15,000
15,000
45,000
16,750
17,250
Other (miscellaneous)
2,500
2,500
2,500
7,500
Insurance
Depreciation
Total operating expenses
18,125
18,125
34,625
70,875

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Schedule A And Total Collections. (July 10, 2021). Retrieved from https://www.freeessays.education/schedule-a-and-total-collections-essay/

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