help Prepare a "Cash Flow Budget" for the Too Bicycle...
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Prepare a "Cash Flow Budget" for the Too Bicycle Manufacturing Company. The owner will be withdrawing $ 4,500.00 per month for personal expenses. Plus, you get a $10,000 loan in January. It is expected to have a cash balance of 20,000 monthly Projected sales December - 70,000.00 January - 50,000.00 February - 50,000.00 March - 60,000.00 April - 50,000.00 80% of sales are on credit and will be charged; 20% at 30 days, 50% at 60 days and 30% at 90 days . Cost of what is sold is 20% of monthly sales and is paid in full after thirty days Salaries represent 5% of sales Profits represent a monthly expense of $ 3,000.00 The capital gain represents an expense of 1,500.00 dollars per year Rent is equivalent to 6,000.00 dollars per year Payment of tax of 5000.00 in April A) Income received December, January, February, March, April Cash 30 60 90 Total B) (Flujos de efectivos) Cash flow JANUARY, FEBRUARY, MARCH, APRIL Previous balance Income C.G.S Cash available Total expenditures Tax Cash flow
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