- 1 Jordan Company Is A Real Company That Specializes In Seting Outdoor Camping Equipment The Company Is Considering Open 1 (40.36 KiB) Viewed 24 times
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- 1 Jordan Company Is A Real Company That Specializes In Seting Outdoor Camping Equipment The Company Is Considering Open 3 (62.5 KiB) Viewed 24 times
- 1 Jordan Company Is A Real Company That Specializes In Seting Outdoor Camping Equipment The Company Is Considering Open 4 (60.71 KiB) Viewed 24 times
- 1 Jordan Company Is A Real Company That Specializes In Seting Outdoor Camping Equipment The Company Is Considering Open 5 (63.52 KiB) Viewed 24 times
- 1 Jordan Company Is A Real Company That Specializes In Seting Outdoor Camping Equipment The Company Is Considering Open 6 (35.9 KiB) Viewed 24 times
- 1 Jordan Company Is A Real Company That Specializes In Seting Outdoor Camping Equipment The Company Is Considering Open 7 (35.9 KiB) Viewed 24 times
- 1 Jordan Company Is A Real Company That Specializes In Seting Outdoor Camping Equipment The Company Is Considering Open 8 (44.86 KiB) Viewed 24 times
- 1 Jordan Company Is A Real Company That Specializes In Seting Outdoor Camping Equipment The Company Is Considering Open 9 (74.77 KiB) Viewed 24 times
- 1 Jordan Company Is A Real Company That Specializes In Seting Outdoor Camping Equipment The Company Is Considering Open 10 (58.49 KiB) Viewed 24 times
- 1 Jordan Company Is A Real Company That Specializes In Seting Outdoor Camping Equipment The Company Is Considering Open 11 (60.46 KiB) Viewed 24 times
- 1 Jordan Company Is A Real Company That Specializes In Seting Outdoor Camping Equipment The Company Is Considering Open 12 (56.19 KiB) Viewed 24 times
- 1 Jordan Company Is A Real Company That Specializes In Seting Outdoor Camping Equipment The Company Is Considering Open 13 (50.43 KiB) Viewed 24 times
Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F Required Grequired Jordan borrows funds, in increments of $1,000, and repays them on the last day of the month. Re any amount available. The company also pays its vendors on the last day of the month. It pays in month in cash on the last day of the month. To be prudent, the company desires to maintain a $2 a cash budget. (Any repayments should be indicated with a minus sign.) Cash Budget October November December 70.000 70.000 $ (306,400) 217500 (88,900) $ (253,590) 271,875 18,285 Section 1: Cash Receipts Beginning cash balance Add: Cash receipts Total cash available Section 2 Cash Payments For inventory purchases For selling and administrative expenses Interest expense Purchase of store factures 81,000 30,400 146,250 43,600 170,430 47,350 >>IX 0 0 O 0 O 0 0 0 0 111,400 189,850 2171780 Total budgeted disbursements Section 3: Financing Activities Surplus (shortage) Borrowing (repayment) Ending cash balance (41.400) (265,000) $ (306,400) (278,750) 25,160 % 5 (253,590) (199 495) (51,696) $ (251,191) < Required F Required H >
g. Jordan borrows funds, in increments of $1,000, and repays amount available. The company also pays its vendors on the last day of th the last day of the month. To be prudent, the company desires to maintain h. Prepare a pro forma income statement for the quarter. 1. Prepare a pro forma balance sheet at the end of the quarter. j. Prepare a pro forma statement of cash flows for the quarter. Answer is complete but not entirel- Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F Requ Prepare a pro forma income statement for the quarter. JORDAN COMPANY Pro Forma Income Statement For the Quarter Ended December 31, Year 1 Sales revenue $ 762,500 Cost of goods sold 457.500 Gross margin 305,000 Selling and administrative 153,575 expenses Operating income 151.425 Interest expense 7,699 Net income $ 143,726 < Required G Required
Complete this question by entering your answers in the tabs below. Requ Required A Required B Required C Required D Required E Required F Prepare a pro forma balance sheet at the end of the quarter. (Amounts to be de JORDAN COMPANY Pro Forma Balance Sheet December 31, Year 1 Assets Accounts receivable 20,000 203,125 Ⓡ 12,800 olololololo $ 200,800 (14.400) Cash Inventory Store fixtures Accumulated depreciation Book value of fixtures Total assets Liabilities Accounts payable Utilities payable Sales commissions payable Line of credit liability 186,400 422,325 $ OOO 72,620 2,200 15,625 188,154 3 0 Equity Retained earnings 143,726 0 422 325 Total liabilities and equity $ < Required H Required J
Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F. Required G Required H Prepare a pro forma statement of cash flows for the quarter. (Cash outflows should be indicated with SIS JORDAN COMPANY Pro Forma Statement of Cash Flows For the Quarter Ended December 31, Year 1 Cash flows from operating activities Cash receipts from customers 559,375 Cash payments for selling and administrative expenses (121 350) Cash payments for interest expense (7,699) Cash payments for inventory (397680) Net cash flows from operating activities Cash flows from investing activities Cash payment for store fixtures Cash flow from financing activities Net inflow from line of credit Net increase in cash Plus: Beginning cash balance Ending cash balance $ 32.646 > 200 80 188,154 20,000 0 20,000 $ < Required HE
1 Jordan Company areal company that specializes in selling outdoor camping equipment. The company considering opening a new store on October year the company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator, you have been assigned the following tasks Required October weited to be $200.000, of which 35 percent will be cash and 65 percent will be cred. The company expects was to more the rate of 25 percent per month Prepare a sales budget b. The company to collect 100 percent of the accounts receivable generated by create the month folowing the sale Prepare a schedule of cash recit The cost of goods so i 60 percent of the company desires to mananam ending inventory equal to 10 percent of the cost of goods sold However ending wiventory of December exected to be 512.000 Acume that all outchalet are made on account. Prepare an inventory purchases budget d. The comowy o percent of accounts payable in the month of purchase and the remaining 60 percent in the foowing month Prepare a cash payments budget for inventory purchases ..Budgeted sing and expenses per month follow 312, Sale of Sale www பாப்பா | prestitor S. The capta expenditures budget indicates that Jordan wil spend $200.800 on October 1 for store focures, which are expected to have $2.000 and three years of Use this wormation to prepare and administrative expenses budget indowed the month after they are incurred at the expenses we paid in the month in which they are incurred Prepare a cash payments toget for long and strative expenses Jondan bomow funds incremento Lo and repay them on the last day of the month Repayments may be made in any out the company is vendors on the last day of the montit pas interest of percent per month in cash on the last day of them to be prudent, the company desires to maintain a $20,000 cash cushion Prepare a cash budget Prepare a proforma income for the quarter Prepare a proforma balance sheet the end of the quartet Prepare a proforma statement of cash flows for the quarter
Jordan Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1 year 1 The company president formed a planning committee to prepare a master budget for the fiest three months of operation As budget coordinator, you have been assigned the following tasks Required a. October sales are estimated to be $200,000, of which 35 percent will be cash and 65 percent will be credit. The company expects sales to increase at the rate of 25 percent per month. Prepare a sales budget b. The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale Prepare a schedule of cash receipts c. The cost of goods sold is 60 percent of sales. The company desires to maintain a minimum ending inventory equal to 10 percent of the next month's cost of goods sold. However, ending inventory of December is expected to be $12.800 Assume that all purchases are made on account Prepare an inventory purchases budget d. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the following month Prepare a cash payments budget for inventory purchases .. Budgeted selling and administrative expenses per month follow Salary() 310.00 Sale conissions 5 of Sales Supplies expense 25 of sales utilities (red) 1 2.200 Depreciation or store Fixtures (ed 1.4, Rent (fixed) 15,600 Miscellaneous (d) The capital expenditures budget indicates that Jordan wil spend $200,800 on October 1 for store factures, which are expected to have a $28.000 salvage value and a three-year (36 month) useful life Use this information to prepare a selling and administrative expenses budget Utilities and sales commissions are paid the month after they are incurred all other expenses are paid in the month in which they are incurred. Prepare a cash payments budget for selling and administrative expenses Jordan borrows funds in increments of 51000, and repays them on the last day of the month Repayments may be made in any amount available. The company also pays its vendors on the last day of the month it pays interest of percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $20,000 cath cushion Prepare a cash budget h. Prepare a pro forma income statement for the quarter 1. Prepare a pro forma balance sheet at the end of the quarter - Prepare a pro forma statement of cash flows for the quarter Complete this question by entering your answers in the tabs below. Prev 1 of 1100 Naxd
Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required f Required Required H Jordan borrows funds, in increments of $1,000, and repays them on the last day of the month. Rep any amount available. The company also pays its vendors on the last day of the month. It pays inti month in cash on the last day of the month. To be prudent, the company desires to maintain a $20 a cash budget. (Any repayments should be indicated with a minus sign.) Cash Budget October November December 70,000 70,000 $ (306,400) 217.500 (88.900) $ (253,590) 271,875 18,285 Section 1 Cash Receipts Beginning cash balance Add Cash receipts Total cash available Section 2. Cash Payments For inventory purchases For selling and administrative expenses Interest expense Purchase of store fixtures 81,000 30,400 146,250 43.600 170.430 47 350 0 0 0 0 0 0 0 111,400 189 850 217 780 Total budgeted disbursements Section 3: Financing Activities Surplus (shortage) Borrowing (repayment) Ending cash balance (41.400) (265,000) $ (306,400) (278.750) (199.495) 25,160 3 (51696) $ (253,590) $ 251,191) < Required F Required H >
1 9. Jordan borrows funds, in increments of $1.000, and repays them on the last amount available. The company also pays its vendors on the last day of the the last day of the month. To be prudent, the company desires to maintain a h. Prepare a pro forma income statement for the quarter. L. Prepare a pro forma balance sheet at the end of the quarter. J. Prepare a pro forma statement of cash flows for the quarter. Answer is complete but not entirely Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F. Requir Prepare a pro forma income statement for the quarter. JORDAN COMPANY Pro Forma Income Statement For the Quarter Ended December 31, Year 1 Sales revenue 762,500 Cost of goods sold 457,500 Gross margin 305,000 Selling and administrative 153,575 expenses Operating income 151,425 Interest expense 7,699 Net income 143.726 < Required G Required
Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Required F Required G Requ. Prepare a pro forma balance sheet at the end of the quarter. (Amounts to be deducted shou X JORDAN COMPANY Pro Forma Balance Sheet December 31, Year 1 Assets Accounts receivable Cash Inventory Store foctures 200,800 Accumulated depreciation (14 400) Book value of fixtures 20.000 203.125 12,800 olololololo 186.400 $ 422,325 Total assets Liabilities Accounts payable Utilities payable Sales commissions payable Line of credit liability olololo 72,620 2.200 15.625 188,1543 0 Equity Retained earnings 143,726 X 0 $ 422,325 Total liabilities and equity < Required H Required J >
Check my work Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Rec Required A Required B Required C Required D Required E Required F Required G Required H Prepare a pro forma statement of cash flows for the quarter. (Cash outflows should be indicated with a JORDAN COMPANY Pro Forma Statement of Cash Flows For the Quarter Ended December 31, Year 1 Cash flow from operating activities Cash receipts from customers $ 559 375 Cash payments for selling and administrative expenses (121350) Cash payments for interest expense (7.699) Cash payments for inventory (397.680) Net cash flows from operating activities Cash flows from investing activities Cash payment for store födures Cash flow from financing activities Net Inflow from line of credit Net Increase in cash Plus Beginning cash balance Ending cash balance $ 32 646 (200.800) 188 154 $ 20.000 0 S 20,000 < Required I
Prepare a pro forma statement of cash flows for the quarter. (Cash outflows should be indicated with a minus sign 559,375 (121,350) (7.699) (397,680) JORDAN COMPANY Pro Forma Statement of Cash Flows For the Quarter Ended December 31, Yoar 1 Cash flows from operating activities Cash receipts from customers $ Cash payments for selling and administrative expenses Cash payments for interest expense Cash payments for inventory Net cash flows from operating activities Cash flows from investing activities Cash payment for store foctures Cash flow from financing activities Net inflow from line of credit Net increase in cash Plus: Beginning cash balance Ending cash balance $ 32,646 (200,800) 188,154 20,000 OOOO 0 $ 20,000 < Required Required