Complete problem P11.1

The following worksheet should help you with this problem: Assignment12Workbook.xlsx

please I need Complete problem p11.1 on Excel just I need complete on problem I need the problem on Excel.

Complete problem P11.1

The following worksheet should help you with this problem: Assignment12Workbook.xlsx

please I need the answer on Excel and just I need complete the problem.

Assignment12Workbook.xlsx B C D E 1 2 P11.1 - Prepare a cash budget for the month of December 1, 0007 3 4 Cash Budget 5 For December, Year 0007 6 Beginning cash 7 Cash receipts, operations 8 Sales revenue, cash 9 Credit card sales revenue 10 Previous month credit card sales revenue Total cash receipts 11 12 Total cash available, December 0007 13 14 Cash disbursements, operations 15 December cost of sales [$29,000 20%] November cost of sales [$30,000 80%] 16 17 Wages expense 18 Operating expenses 19 Total cash disbursements 20 Ending cash balance 21 22 23 24 25 26 27 28 29 30 31 32 33 21 $0 $0 $0 $0 $0 F P11.1 You have the following information about a restaurant in Year 0007: Actual sales revenue in November was $80,000. Actual purchases (cost of sales) in November was $30,000. Sales revenue will be 40% cash. Credit card sales revenue is 60% of sales, of which 96% is collected in the month of sales; the remaining 4% is collected early in the following month. Purchases of inventory, 20% is paid in the month of purchase and the remaing 80% is paid in the month following the purchases. The condensed budgeted income statement for December, Year 0007, follows: $75,000 Sales revenue Cost of sales $29,000 Wages expense 21,000 Operating expenses 14,000 Rent expense 5,500 Depreciation expense 2,500 Total expenses (72,000) $ 3,000 Operating income The wages and operating expenses included in the budgeted income statement will be paid in December, Year 0007. Rent was prepaid in January for the entire year. Prepare a cash budget for the month of December, Year 0007. November ending cash is $4,800. DIEREA 1 -234567 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 P11.1 - Prepare a cash budget for the month of December 1, 0007 Cash Budget For December, Year 0007 Beginning cash Cash receipts, operations Sales revenue, cash Credit card sales revenue Previous month credit card sales revenue Total cash receipts Total cash available, December 0007 Cash disbursements, operations December cost of sales [$29,000 20%] November cost of sales [$30,000 80%] Wages expense Operating expenses Total cash disbursements Ending cash balance $0 $0 $0 $0 $0