Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. use the following information to prepare the septe

Use the following information to prepare the September cash budget for PTO Co. The following...

50.1K

Verified Solution

Question

Accounting

imageimage

Use the following information to prepare the September cash budget for PTO Co. The following information relates to expected cash receipts and cash payments for the month ended September 30. a. Beginning cash balance, September 1, $49,000. b. Budgeted cash receipts from sales in September, $259,000. c. Raw materials are purchased on account. Purchase amounts are August (actual), $78,000, and September (budgeted), $108,000. Payments for direct materials are made as follows: 70% in the month of purchase and 30% in the month following purchase. d. Budgeted cash payments for direct labor in September, $37,000. e. Budgeted depreciation expense for September, $3,800. f. Other cash expenses budgeted for September, $58,000. g. Accrued income taxes payable in September, $10,800. h. Bank loan interest payable in September, $1,500. PTO MANUFACTURING COMPANY Cash Budget For Month Ended September 30 Beginning cash balance $ 49,000 Cash receipts from sales 259,000 Total cash available $ 308,000 Cash payments for: Direct materials 99,000 37,000 Direct labor Other expenses Accrued taxes Interest on bank loan 58,000 10,800 1,500 Total cash payments 206,300 $ 101,700 Ending cash balance

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Describe the different type of transformations that can be carried out using enzymes

Psychology
1.2K views

Discussion Question: Recall three on-the-job incidents in which you had difficulty listening effectively. For each incident, describe...

Psychology
1.2K views

Create your own care plan as if you were a person living in a nursing home....

Mechanical Engineering
1.2K views

Consider an axisymmetric pipe flow simulation. The pipe is 40 m long in axial direction and...

Basic Math
1.2K views

15 4 16 17 18 19 20 a Find the interest that will be owed...

Basic Math
1.2K views

A person with the antigens A B or both A and B has the respective...

Basic Math
1.2K views

Question 13 T Given f x 4x 40z 105 write the function in vertex form...

Algebra
1.2K views

Solve the problem below Show all your work You must solve each part completely and...

Accounting
1.2K views

Required information On January 1,2024, the general ledger of Big Blast Fireworks includes the...

Accounting
1.2K views

If $5000 is invested at an interest rate of 6% per year, find the amount...

Accounting
1.2K views

Kohler Corporation reports the following components of stockholders equity at December 31 of the prior...

Finance
1.2K views

Suppose that in January 2006, Kenneth Cole Productions had sales of $518 million, EBITDA of...