Cash disbursements schedule Maris Brothers, Inc., needs a cash disbursement schedule for the months of...
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Cash disbursements schedule
Maris Brothers, Inc., needs a cash disbursement schedule for the months of April, May, and June. Use the format given here and the following information in its preparation.
Sales: February 520,000 ; March 500,000 ; April 571,000; May 600,000 ; June 626,000 ; July 635,000
Purchases: Purchases are calculated as 59% of the next month's sales, 10% of purchases are made in cash, 51%of purchases are paid for 1 month after purchase, and the remaining 39% of purchases are paid for 2 months after purchase.
Rent: The firm pays rent8,020 per month.
Wages and salaries: Base wage and salary costs are fixed at 6,200 per month plus a variable cost of 7.2% the current month's sales.
Taxes: A tax payment of 54,200 is due in June.
Fixed asset outlays: New equipment costing 74,500 will be bought and paid for in April.
Interest payments: An interest payment of 29,600 is due in June.
Cash dividends: Dividends of 12,100 will be paid in April.
Principal repayments and retirements: No principal repayments or retirements are due during these months.
Complete the cash disbursements schedule for Maris Brothers, Inc. below: (Round to the nearest dollar.)
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