| Total cash receipts
QS 23 16 Cash disbursements for merchandise L.O. P1
|
T Mart purchased $100,000 of merchandise in August and expects to purchase $120,000 in September. Merchandise purchases are paid as follows: 25% in the month of purchase and 75% in the following month.
|
| Compute cash disbursements for merchandise for September. (Input all amounts as positive values. Omit the “$” sign in your response.) |
T MART
Cash Disbursements for Merchandise (Budgeted)
For The Month Ended September 30 |
| Cash disbursements for September purchases |
$ |
| Cash disbursements for August purchases |
$ |
|
|
| Total cash disbursements |
$ |
QS 23 23 Sales budget L.O. P1
|
Shay, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $25 per unit. Budgeted sales for the next four months follow.
|
| |
January |
February |
March |
April |
| Sales in units |
1,200 |
|
1,000 |
|
1,600 |
|
1,400 |
|
|
|
Prepare a sales budget for the months of January, February, and March. (Omit the “$” sign in your response.)
|
SHAY INC.
Sales Budget
For January, February, and March |
| |
Budgeted Unit Sales |
Budgeted Unit Price |
Budgeted Total Sales |
| January |
|
$ |
$ |
| February |
|
|
|
| March |
|
|
|
|
|
|
|
| Totals for the quarter |
|
|
$ |
QS 23 24 Cash receipts budget L.O. P1
|
Shay, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $25 per unit. Budgeted sales for the next four months follow.
|
|
January |
February |
March |
April |
| Sales in units |
1,200 |
|
1,000 |
|
1,600 |
|
1,400 |
|
|
|
In addition, sales are 40% cash and 60% on credit. All credit sales are collected in the month following the sale. The January 1 balance in accounts receivable is $10,000. Prepare a schedule of budgeted cash receipts for January, February, and March. (Input all amounts as positive values. Omit the “$” sign in your response.)
|
SHAY INC.
Cash Receipts Budget
For January, February, and March |
|
January |
February |
March |
|
$ |
$ |
$ |
|
|
|
|
|
|
|
|
| Cash receipts from |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total cash receipts |
$ |
$ |
$ |
|
|
|
|
QS 23 25 Selling expense budget L.O. P1
|
Shay, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $25 per unit. Budgeted sales for the next four months follow.
|
| |
January |
February |
March |
April |
| Sales in units |
1,200 |
|
1,000 |
|
1,600 |
|
1,400 |
|
|
|
In addition, sales commissions are 10% of sales and the company pays a sales manager a salary of $5,000 per month. Sales commissions and salaries are paid in the month incurred.
|
|
Prepare a selling expense budget for January, February, and March. (Omit the “$” & “%” signs in your response.)
|
SHAY INC.
Selling Expense Budget
For January, February, and March |
| |
January |
February |
March |
|
$ |
$ |
$ |
|
% |
% |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total selling expenses |
$ |
$ |
$ |
|
$
|
