с 1 5 8 А B D E F G H 1 S&P Enterprises needs a cash budget for March. The following information is available! 2 2 3 Data January February March 4 Actual January and February and expected March sales: Cash sales $1,600 $3,750 $5,100 6 Sales on account 25,000 30,000 40,000 7 Total Sales $26,600 $33,750 $45,100 8 9 Accounts Receivable Collections: 10 Month of sale 15% 11 Month following sale 60% 12 Second month following sale 22% 13 Uncollectible 3% 14 Accounts payable for inventory purchases, March 1 balance $ 10,500 15 Budgeted inventory purchases in March $23,500 16 Inventory payments: 17 Month of purchase 60% 18 Month following purchase 40% 19 20 Total budgeted selling & administrative expenses in March (including depreciation) $12,500 21 Budgeted depreciation in March (included in total selling and admin exp) $3,200 22 23 Other budgeted cash disbursements in March 24 Equipment purchases $14,000 25 Dividends to be paid $2,000 26 27 Minimum cash balance to be maintained $10,000 28 March 1 cash balance 1 $11,500 29 March 1 outstanding borrowings 0 SO 30 March 1 interest due SO 31 32 The company has a line of credit available to bolster the cash balance as needed. 33 34 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. 35 36 Required: 37 Click the Schedules and Cash Budget tab to prepare the following: 38 1. Schedule of expected cash collections for March. 39 2. Schedule of expected cash disbursements for inventory purchases for March. 40 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that any interest will not be paid until the following 41 month. 42 43 (Use cells A4 to B31 from the given information to complete this question.) 44
Excel McGraw Hill Excel Question - Saved Data A1 B D E F File Home Insert Draw Formulas Review View Help Editing bv º Calibri ~11 Α' Α' Β 1 U av Arab Align XV fx Accessibility tab summary: Financial information for S and P enterprises, is presented in cells A3 to D7 and А с 1 2 Expected cash collections: 3 March cash collections March collections on account: January sales February sales 7 March sales Total cash collections 4 5 6 8 | 9 11 10 Payments to suppliers: Accounts payable for inventory purchases, beginning balance 12 March purchases 13 Total cash payments 14 17 15 S&P Enterprises 16 Cash Budget For the Month of March 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 Preliminary cash balance 29 Financing: 30 Additional loan 31 Loan repayments 32 Interest 33 Total financing 34 Cash balance, March 31 35 36
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