Use the following information to prepare the September cash budget for PTO Company. Ignore the “Loan activity” section o
Posted: Sun Jul 03, 2022 3:54 pm
Use the following information to prepare the September cashbudget for PTO Company. Ignore the “Loan activity” section of thebudget.
Fortune Incorporated is preparing its master budget for thefirst quarter. The company sells a single product at a price of $25per unit. Sales (in units) are budgeted at 153,000 for the firstquarter. Cost of goods sold is $12 per unit. Other expenseinformation for the first quarter follows.
Beginning cash balance Add: Cash receipts from sales Total cash available Less: Cash payments for Direct materials Direct labor Dividends Income taxes Interest on loan PTO COMPANY Cash Budget Total cash payments Ending cash balance September $ $ 48,000 264,000 312,000 0 312,000
FORTUNE, INCORPORATED Budgeted Income Statement For Quarter Ended March 31 Selling, general and administrative expenses $ 0 O
- Use The Following Information To Prepare The September Cash Budget For Pto Company Ignore The Loan Activity Section O 1 (143.83 KiB) Viewed 18 times
- Use The Following Information To Prepare The September Cash Budget For Pto Company Ignore The Loan Activity Section O 2 (132.96 KiB) Viewed 18 times
FORTUNE, INCORPORATED Budgeted Income Statement For Quarter Ended March 31 Selling, general and administrative expenses $ 0 O