109) Taylor, Inc. provided the following information:

  Month Budgeted Sales

June$194,000

July186,000

August172,000

September178,000

Budgeted Expenses per Month:

Wages$16,400

Advertising13,600

Amortization8,600

Rent10,200

Freight-out3 percent of sales

Other5 percent of sales

Note: All cash expenses are paid when incurred.

Required: Prepare a combined schedule of total operating expenses and cash disbursements for expensesfor July through September.

110) Johnson Company has gathered the following information:

April 30, cash balance, $90,000

Dividends paid in May, $24,000

Cash expenditures in May for operating expenses, $73,600

Amortization expense in May, $9,000

Cash collections in May, $178,000

Merchandise purchases paid in cash in May, $112,400

Purchased equipment for cash in May, $35,000

Johnson desires to keep a minimum cash balance of $20,000.

Required: Prepare a cash budget for May, and indicate whether or not Johnson meets minimum cash re



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