Answered » You can buy a ready-made answer or pick a professional tutor to order an original one.
CHAPTER 23
QS 23-14 Cash receipts L.O. P1
|
The Candy Shoppe reports the following sales forecast: August, $110,000; September, $120,000. Cash sales are normally 25% of total sales and
all credit sales are expected to be collected in the month following the date of sale. Prepare a schedule of cash receipts for September.
(Omit the “$” sign in your response.)
|
CANDY SHOPPE
Cash Receipts Budget
For The Month Ended September 30
|
|
$
|
|
|
|
|
|
Total cash receipts
QS 23-16 Cash disbursements for merchandise L.O. P1
|
T-Mart purchased $100,000 of merchandise in August and expects to purchase $120,000 in September. Merchandise purchases are
paid as follows: 25% in the month of purchase and 75% in the following month.
|
Compute cash disbursements for merchandise for September. (Input all amounts as positive values. Omit the “$”
sign in your response.)
|
T-MART
Cash Disbursements for Merchandise (Budgeted)
For The Month Ended September 30
|
|
Cash disbursements for September purchases
|
$
|
|
Cash disbursements for August purchases
|
$
|
|
|
|
Total cash disbursements
|
$
|
QS 23-23 Sales budget L.O. P1
|
Shay, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $25 per unit.
Budgeted sales for the next four months follow.
|
|
|
January
|
February
|
March
|
April
|
|
Sales in units
|
1,200
|
|
1,000
|
|
1,600
|
|
1,400
|
|
|
|
Prepare a sales budget for the months of January, February, and March. (Omit the “$” sign in your
response.)
|
SHAY INC.
Sales Budget
For January, February, and March
|
|
|
Budgeted Unit Sales
|
Budgeted Unit Price
|
Budgeted Total Sales
|
|
January
|
|
$
|
$
|
|
February
|
|
|
|
|
March
|
|
|
|
|
|
|
|
|
Totals for the quarter
|
|
|
$
|
QS 23-24 Cash receipts budget L.O. P1
|
Shay, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $25 per unit.
Budgeted sales for the next four months follow.
|
|
January
|
February
|
March
|
April
|
|
Sales in units
|
1,200
|
|
1,000
|
|
1,600
|
|
1,400
|
|
|
|
In addition, sales are 40% cash and 60% on credit. All credit sales are collected in the month following the sale. The January
1 balance in accounts receivable is $10,000. Prepare a schedule of budgeted cash receipts for January, February, and March.
(Input all amounts as positive values. Omit the “$” sign in your response.)
|
SHAY INC.
Cash Receipts Budget
For January, February, and March
|
|
January
|
February
|
March
|
|
$
|
$
|
$
|
|
|
|
|
|
|
|
|
|
Cash receipts from
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash receipts
|
$
|
$
|
$
|
|
|
|
|
QS 23-25 Selling expense budget L.O. P1
|
Shay, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $25 per unit.
Budgeted sales for the next four months follow.
|
|
|
January
|
February
|
March
|
April
|
|
Sales in units
|
1,200
|
|
1,000
|
|
1,600
|
|
1,400
|
|
|
|
In addition, sales commissions are 10% of sales and the company pays a sales manager a salary of $5,000 per month. Sales
commissions and salaries are paid in the month incurred.
|
|
Prepare a selling expense budget for January, February, and March. (Omit the “$” & “%” signs in your
response.)
|
SHAY INC.
Selling Expense Budget
For January, February, and March
|
|
|
January
|
February
|
March
|
|
$
|
$
|
$
|
|
%
|
%
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total selling expenses
|
$
|
$
|
$
|
|
$
|
