Use the data provided and the budgets you prepared for JKL Corporation ^^^^^(above) so that you can develop the following projected financial statements:

1- Proforma statement of situation as of June 30, 20xx.

2- Proforma income and expense statement for the quarter ended June 30, 20xx.

3- Proforma statement of cash flows for the quarter ended June 30, 20xx.

Then complete the following table of financial analysis rates. Show the calculation to obtain each rate.

ratios	June 20xx	Calculation
current ratio
Acid-test ratio
accounts receivable turn-over
average collection period
inventory turn-over
average sales period
Debt/Assets
(debt-equity ratio)
Times interest earned ratio
gross margin percentage
Net Margin
ROI: return on investment

 

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JKL Corporation Sales Budget Reg A Cash sales Sales on account Total budgeted sales Schedule of cash receipts Req B Cash sales Credit sales collections Total collections Inventory Purchase budget Reg C Budgeted cost of goods sold Add Desired Ending Inventory Inventory Needed Less Beginning Inventory Required Purchases Admin & Sales Expenses Budget Req E Salaries Advertising Miscellaneous Total Payments for Admin & sales exps Cash budget Req F Beginning Cash balance Cash collections Cash available Less Outlays Shoppings Admin & sales expenses Purchase of equipment Dividends Total disbursements Cash excess (deficiency) Financing Loan Loan Payments Interest April Total Financing Ending Cash balance 15,700 14,900 62,800 59,600 74,500 78,500 April Schedule of cash payments budget for Inventory Purchases Req D April May Payment of current months purchases Payment of prior months purchases Total disbursements for purchases 15,700 64,000 79,700 April 21,812 23,400 45,212 April 56,520 13,410 69,930 68,058 15,400 13,410 54,530 54,648 9,100 4,350 7,065 20,515 April May 20,000 79,700 May 87,827 11,873 May 11,873 14,900 16,020 62,800 59,600 77,700 75,620 May 53,640 57,672 14,418 9,594 9,100 4,350 6,705 20,155 May June June 21,859 21,139 32,718 32,789 54,577 87,432 2,141 16,020 46,620 78500*20% 64,080 186,480 78500*80% 80,100 233,100 6,000 June 6,000 8,141 June 11,873 8,141 77,700 75,620 99,700 89,573 83,761 45,212 54,577 53,928 20,515 20,155 20,659 22,100 12,700 June 67,266 177,426 14,418 15,400 52,848 162,026 9,100 4,350 7,209 20,659 June 2,700 77,287 6,474 Quarter 53,928 153,717 2,000 (60) Quarter 1,940 8,414 46,620 186,400 233,020 Quarter 167,832 9,594 Quarter Quarter April 54530*40% 64,810 88,907 Given in Bal Sheet 27,300 13,050 20,979 61,329 Quarter 20,000 233,020 253,020 153,717 61,329 34,800 2,700 252,546 474 Calculation April 8,000 (60) 7,940 8,414 Calculation April April 78500*(1-28 %) 53640*25% Given in Bal Sheet April 78500*9% April May 74500*20% 74500*80% May May 74500*(1-28%) 57672 25% May 54648*40% 54530 60% May 74500*9% May June 80100 20% 80100 80% June End Inv of April End Inv of May June FILMENTE 80100*(1-28%) -53300*(1-28%) *25% June 52848*40% 54648 60% June 8000-2000 Rounded off 2,141 to 2,000 for borrowings June 80100*9% 8000-6000 JKL Corporation Sales Budget Reg A Cash sales Sales on account Total budgeted sales Schedule of cash receipts Req B Cash sales Credit sales collections Total collections Inventory Purchase budget Reg C Budgeted cost of goods sold Add Desired Ending Inventory Inventory Needed Less Beginning Inventory Required Purchases Admin & Sales Expenses Budget Req E Salaries Advertising Miscellaneous Total Payments for Admin & sales exps Cash budget Req F Beginning Cash balance Cash collections Cash available Less Outlays Shoppings Admin & sales expenses Purchase of equipment Dividends Total disbursements Cash excess (deficiency) Financing Loan Loan Payments Interest April Total Financing Ending Cash balance 15,700 14,900 62,800 59,600 74,500 78,500 April Schedule of cash payments budget for Inventory Purchases Req D April May Payment of current months purchases Payment of prior months purchases Total disbursements for purchases 15,700 64,000 79,700 April 21,812 23,400 45,212 April 56,520 13,410 69,930 68,058 15,400 13,410 54,530 54,648 9,100 4,350 7,065 20,515 April May 20,000 79,700 May 87,827 11,873 May 11,873 14,900 16,020 62,800 59,600 77,700 75,620 May 53,640 57,672 14,418 9,594 9,100 4,350 6,705 20,155 May June June 21,859 21,139 32,718 32,789 54,577 87,432 2,141 16,020 46,620 78500*20% 64,080 186,480 78500*80% 80,100 233,100 6,000 June 6,000 8,141 June 11,873 8,141 77,700 75,620 99,700 89,573 83,761 45,212 54,577 53,928 20,515 20,155 20,659 22,100 12,700 June 67,266 177,426 14,418 15,400 52,848 162,026 9,100 4,350 7,209 20,659 June 2,700 77,287 6,474 Quarter 53,928 153,717 2,000 (60) Quarter 1,940 8,414 46,620 186,400 233,020 Quarter 167,832 9,594 Quarter Quarter April 54530*40% 64,810 88,907 Given in Bal Sheet 27,300 13,050 20,979 61,329 Quarter 20,000 233,020 253,020 153,717 61,329 34,800 2,700 252,546 474 Calculation April 8,000 (60) 7,940 8,414 Calculation April April 78500*(1-28 %) 53640*25% Given in Bal Sheet April 78500*9% April May 74500*20% 74500*80% May May 74500*(1-28%) 57672 25% May 54648*40% 54530 60% May 74500*9% May June 80100 20% 80100 80% June End Inv of April End Inv of May June FILMENTE 80100*(1-28%) -53300*(1-28%) *25% June 52848*40% 54648 60% June 8000-2000 Rounded off 2,141 to 2,000 for borrowings June 80100*9% 8000-6000

Answer rating: 100% (QA)

JKL Corporation Sales Budget Req A Cash sales Sales on account Total budgeted sales Schedule of cash ... View the full answer