60.1K

Verified Solution

Link Copied!

can you show the correct cell formulas for each yellow blank ? :)

1. Use the Budget Data tab to complete the Schedules and Cash Budget tab. Formulas must be entered so that all cash flow amounts are positive numbers X -- 5 FILE X Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel ? HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri -11 - A A BTU- Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Font Styles fu S&P Enterprises needs a cash budget for March. The following information is Paste Clipboard B C D E S&P Enterprises needs a cash budget for March. The following information is available. 2 3 Data January February March $ 1.600 $ 3,750 $ 5,100 25,000 30,000 40.000 S26,600 33.750 $45.100 4 Actual January and February and expected March sales: 5 Cash sales 6 Sales on account 7 Total Sales 8 9 Accounts Receivable Collections: 10 Month of sale 11 Month following sale 12 Second month following sale 13 Uncollectible 14 1596 60% 22% 3% 13 Uncollectible 3% 14 15 Accounts payable for inventory purchases, March 1 balance $10.500 16 Budgeted inventory purchases in March $23,500 17 Inventory payments 18 Month of purchase 60% 19 Month following purchase 40% 20 21 Total budgeted selling & administrative expenses in March $12.500 22 Budgeted selling & administrative depreciation in March $3.200 23 24 Other budgeted cash disbursements in March 25 Equipment purchases $14.000 26 Dividends to be paid $2,000 27 28 Minimum cash balance to be maintained $10,000 29 March 1 cash balance $11,500 30 March 1 outstanding borrowings SO 31 March 1 interest due SO 32 33 The company has a line of credit available to bolster the cash balance as needed. 34 35 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. 36 Budget Data Schedules and Cash Budget READY Attempt(s) 100% 21 Total budgeted selling & administrative expenses in March 22 Budgeted selling & administrative depreciation in March $12,500 $3,200 23 24 Other budgeted cash disbursements in March 25 Equipment purchases Dividends to be paid 26 27 $14,000 $2,000 28 Minimum cash balance to be maintained 29 March 1 cash balance 30 March 1 outstanding borrowings 31 March 1 interest due $10,000 $11,500 $0 $0 32 36 33 The company has a line of credit available to bolster the cash balance as needed. 34 35 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. 37 Click the Schedules and Cash Budget tab to prepare the following: 38 1. Schedule of expected cash collections for March. 2. Schedule of expected cash disbursements for inventory purchases for March. 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume it any interest will not be paid until the following month. 39 40 42 43 44 45 - ++ Budget Data Schedules and Cash Budget *** + E READY Attempt(s) 100% Hint . B D E A 1 Expected cash collections: 2 March cash collections 3 March collections on account: 4 January sales 5 February sales 6 March sales 7 Total cash collections 8 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance 11 March purchases 12 Total cash payments 13 14 S&P Enterprises 15 Cash Budget 16 For the Month of March 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses Budget Data Schedules and Cash Budget M EI 100% READY 15 Cash Budget 16 For the Month of March 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses 25 Equipment purchases 26 Dividends paid 27 Total disbursements 28 Cash balance before financing 29 Financing: 30 Borrowings/Repayments 31 Cash balance, March 31 32 33 34 + 35 36 37 38 Budget Data Schedules and Cash Budget READY Attempt(s) 5/5 100% Hint

Answer & Explanation Solved by verified expert

See Answer