- X y In = Bo Assignments – Accounting for X new doc 2017-11-19 09.10.13 - Ex&X;

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- X y In = Bo Assignments – Accounting for X new doc 2017-11-19 09.10.13 - Ex&X; C Chegg Study | Guided Solution: X CN Netflixe BAssignments – Acco X C Netfl x D, Assignments-Accour x + E C O A https://elearning.sharjah.ac.ae/bbcswebdav/pid-1029604-dt-content-rid-1514707_1/courses/0301215 ... O AQ Search e Getting Started ¢ Most Visited @ TripAdvisor TV / Events spread the word > Watch Friends Online... e Kris Gethin's 12-Week .. O Mail - Salaheddin Abd. Blackboard Learn t|1 1 of 1 + Automatic Zoom : $29 D 3 e6 | » Problems 7-36 Cash Budget Daniel Merrill is the manager of an airport gift shop. Merrill News and Gifts. From the following data, Mr. Merrill wants a cash budget showing expected cash receipts and disbursements for the month of April, and the cash balance expected as of April 30, 20X7. • Planned cash balance, March 31, 20X7: ST00,000 Customer receivables as of March 31: $530,000 total, where S80,000 from February sales, $450,000 from March sales · Accounts payable, March 31: $460,000 Merchandise purchases for April: $450,000, 40% paid in month of purchase, 60% paid in next month Payrolls due in April: $90,000 Other expenses for April, payable in April: $45,000 · Accrued taxes for April, payable in June: $7,500 Bank note due April 10: $90,000 plus $7,200 interest · Depreciation for April: $2,100 Two-year insurance policy due April 14 for renewal: $1,500, to be paid in cash · Sales for April: $1,000,000, half collected in month of sale, 40% in next month, 10% in third month Prepare the cash budget for the month ending April 30, 20x7. 7-37 Cash Budget Prepare a statement of estimated cash receipts and disbursements for October 20x7 for the Botanica Company, which sells one product, herbal soap, by the case. On October 1, 20X7, part of the trial bal- ance showed DR Cash $ 4,800 _CR

Explanation / Answer

Answer:-

Cash Budget Month ending April 30 2017 Particluars Amount $ Opening cash balance (A) 100000 Cash Collections:- Receipts from Debtors 530000 Cash Sales 500000 Total Collections (B) 1030000 Cash Disbursements:- Accounts payable 460000 Merchandise purchase $450000*40% 180000 Payrolls 90000 Other expenses 45000 Accrued Taxes 7500 Bank note 97200 Insurance 1500 Total Payments (C) 881200 Closing Cash Balance (A+B-C) 248800

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