Jasmine Company provided the following sales information for the month of December: November December Budget Cash...

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Jasmine Company provided the following sales information for the month of December: November December Budget Cash sales $ 20,500.00 $ 40,000.00 Actual Credit sales 100,000.00 130,000.00 Total sales $120,500.00 $170,000.00 For credit sales, the collection pattern is as follows: 70% 25% Month of sales Month following sales Based on past experience, the company estimates the remaining credit sales are uncollectible. Inventory purchases average 75% of current month's total sales. Payments for inventory are made as follows: Month of purchase Month following purchase 60% 40% Other expenses are as follows: $ 12,500.00 $24 Wages and benefits per month Rent and Utilities per month Gift baskets and ribbons Tax payment per quarter to be paid in December $ Depreciation expenses per month 5,800.00 1,200.00 1,500.00 24 1,000.00 December 1 cash balance is $4,580.00. Prepare a cash budget for the month of December. Question 33 (2 points) What is the budgeted cash receipts for the month of December? Question 34 (2 points) What is the budgeted cash disbursements for inventory purchases for the month of December? Question 35 (2 points) What is the budgeted cash disbursements for other expenses for the month of December? Question 36 (1 point) What is the ending cash balance in the cash budget for the month of December? Jasmine Company provided the following sales information for the month of December: November December Budget Cash sales $ 20,500.00 $ 40,000.00 Actual Credit sales 100,000.00 130,000.00 Total sales $120,500.00 $170,000.00 For credit sales, the collection pattern is as follows: 70% 25% Month of sales Month following sales Based on past experience, the company estimates the remaining credit sales are uncollectible. Inventory purchases average 75% of current month's total sales. Payments for inventory are made as follows: Month of purchase Month following purchase 60% 40% Other expenses are as follows: $ 12,500.00 $24 Wages and benefits per month Rent and Utilities per month Gift baskets and ribbons Tax payment per quarter to be paid in December $ Depreciation expenses per month 5,800.00 1,200.00 1,500.00 24 1,000.00 December 1 cash balance is $4,580.00. Prepare a cash budget for the month of December. Question 33 (2 points) What is the budgeted cash receipts for the month of December? Question 34 (2 points) What is the budgeted cash disbursements for inventory purchases for the month of December? Question 35 (2 points) What is the budgeted cash disbursements for other expenses for the month of December? Question 36 (1 point) What is the ending cash balance in the cash budget for the month of December?

Answer rating: 100% (QA)

33 Cash Sales of December 40000 Add Collection of December Credit Sales Sales x Collectio... View the full answer