Question: No explanation is required. Please just answer the empty boxs in following table. Here are some important figums from the budget of Ludwig Inc., for
Here are some important figums from the budget of Ludwig Inc., for the second quarter of 2017 ay June $330,000 $370,000 $431,000 Credit sales $131,000 $150,000 $188,000 Credit purchases Cash disbursements Wages, taxes, and expenses $20,200 $22,300 $25,100 Interest $9,600 $9,600 $9,600 Equipment purchases $76,000 $85,000 $64,000 The company predicts that 5 percent of its credit sales will never be collected, 35 percent (40% -5%) of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2017, credit sales were $200,000, and credit purchases were $151,000. Using this information, complete the following cash budget: April May June Beginning cash balance 290,000 Cash receipts Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance
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