ACCOUNTING-Assume actual cash receipts and disbursements will follow the pattern

8Cash BudgetAssume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables and Payables of 12/31/x1 will have a cash impact in 20×2.)1. 18.00% of sales for the year are made in November and December. Since our customers have 60 day termsthose funds will be collected be collected in January and February.2. 83.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February.3. All other manufacturing and operating costs are paid for when incurred.4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses.5. Minimum Cash Balance needed for 20×2, $140,000 .I See The LightProjected Cash BudgetFor the Year Ending December 31, 20x2Round dollars to two places, $##.##Beginning Cash Balance $34,710.000 Cash Inflows:Sales Collections:Account Receivable (Sales last year not collected)$67,500.00 Sales made and collected in 20x2Cash AvailableCash Outflows:PurchasesAccounts Payable (Purchases last year)Purchases made and paid for in 20x2Other Manufacturing CostsDirect LaborTotal Manufacturing OverheadSelling and AdministrativeLess: DepreciationTotal Cash OutflowsBudgeted Cash Balance before financingNeeded Minimum BalanceAmount to be borrowed (if any)Budgeted Cash BalanceSindhya K:Hey i would have helped but i m out right now. Send me a lesson request for tomorrow if its not urgent.InstaEDU Messages &..=@mg.instaedu.com> wrote:20 hours ago you sent [https://instaedu.com/tutors/publish/static/img/5adab12324.png]“sure :)” See the whole conversation[https://instaedu.com/tutors/publish/static/img/6ccaff70fe.png][https://instaedu.com/tutors/publish/static/img/6ccaff70fe.png]Antionette sent:8 Cash BudgetAssume actual cash receipts and disbursements will follow the pattern below: (Note: Receivables andPayables of 12/31/x1 will have a cash impact in 20×2.)1. 18.00% of sales for the year are made in November and December. Since our customers have 60 day termsthose funds will be collected be collected in January and February.2. 83.00% of material purchases will be paid during the year, the remaining portion will be paid in Januay or February.3. All other manufacturing and operating costs are paid for when incurred.4. The budgeted depreciation expense is equal to 0.6% of the fixed manufacturing, selling and administrative expenses.5. Minimum Cash Balance needed for 20×2, $140,000 .I See The LightProjected Cash BudgetFor the Year Ending December 31, 20x2Round dollars to two places, $##.##Beginning Cash Balance $34,710.000Cash Inflows:Sales Collections:Account Receivable (Sales last year not collected) $67,500.00Sales made and collected in 20x2Cash AvailableCash Outflows:PurchasesAccounts Payable (Purchases last year)Purchases made and paid for in 20x2Other Manufacturing CostsDirect LaborTotal Manufacturing OverheadSelling and AdministrativeLess: DepreciationTotal Cash OutflowsBudgeted Cash Balance before financingNeeded Minimum BalanceAmount to be borrowed (if any)Budgeted Cash Balance

 

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