You must submit your work using excel files (with .xls or .xlsx for credit).

PLEASE EMAIL THE EXCEL WORKSHEET WITH THE FORMULAS INCLUDED TO porterjbbleb@yahoo.com

This assignment will require you to prepare the cash budget and determine the cash surplus and shortage each month.

The management estimates total sales for the period January through July based on actual sales from the immediate past quarter. The following assumptions are made:

Sales: PAST AND EXPECTED:

HISTORICAL:

October $300,000

November $350,000 December $400,000

FORECAST:

January $150,000

February $200,000

March $200,000 April $300,000 May $250,000 June $200,000 July $300,000 a. 25% of the Sales will be collected in the same month of the Sale. 60% of the Sales will be collected one month following the sale. 10% will be collected two months following the sale. The remainder will be collected three months following the sale. Bad debts are insignificant. b. Purchases are 80% of sales and are paid in the same month. c. Wages and salaries are as follows: January $30,000 February $40,000 March $50,000 April $50,000 May $40,000 June $35,000 Wages and salaries are paid in the same month. d. Rent is $10,000 per month. Rent is paid in the same month. e. The company issued $500,000 bonds, paying annual coupon rate of 5%. Interest on these bonds is paid at the end of each calendar quarter. Hint: Firsts, calculate the coupon interest amount for each quarter. Then, this quarterly interest amount will be paid at the end of each calendar quarter. f. A tax prepayment of $75,000 is paid in April. g. Machinery worth $35,000 will be purchased in March. h. Cash on hand on January 1st will amount to $100,000 and a minimum cash balance of $100,000 each month will be maintained throughout the period.

EXCEL MUST BE USED TO SHOW WORK FOR THE FOLLOWING:

1. Prepare cash budget from January to June. 2. Determine the cash surplus and shortages for each month from January to June

PLEASE EMAIL THE EXCEL WORKSHEET WITH THE FORMULAS INCLUDED TO porterjbbleb@yahoo.com

I NEED THE EXCEL WORKSHEET WITH THE FORMULAS INCLUDED. IF THE EXCEL SHEET CANNOT BE ATTACHED HERE WITH FORMULAS INCLUDED, PLEASE EMAIL IT TO ME AT THE EMAIL ADDRESS ABOVE. I WILL NOT USE YOUR EMAIL ADDRESS AGAIN. I HAVE TO HAVE THIS ASSIGNMENT COMPLETE ON THE EXCEL SHEET FOR SUBMISSION TODAY.

THANK YOU SO MUCH :-)