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

No explanation is required. Please just answer the empty boxs in following table.  No explanation is required. Please just answer the empty boxs in

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

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!