145. Use the following data to determine the company's cash disbursements for the month of August and September:
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|
July
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August
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September
|
Sales
|
|
$24,000
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$32,000
|
$36,000
|
Purchases
|
|
14,400
|
$19,200
|
$21,600
|
|
|
|
|
Payments for purchases
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One month after purchase
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|
|
Selling expenses
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15% of sales, paid in the month of sale
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|
|
Administrative expenses
|
10% of sales, paid in the month of sale
|
|
|
Rent expense
|
$2,400 per month
|
|
|
Equipment depreciation
|
$1,300 per month
|
|
|
|
|
|
|
|
146. Slim Corp. requires a minimum $8,000 cash balance. If necessary, loans are taken to meet this requirement at a cost of 1% interest per month (paid monthly). Loans are repaid at month's end from any excess cash. The cash balance on July 1 is $8,400. Cash receipts other than for loans received for July, August, and September are forecasted as $24,000, $32,000, and $40,000, respectively. Payments other than for loan or interest payments for the same period are planned at $28,000, $30,000, and $32,000, respectively. At July 1, there are no outstanding loans.
Required:
Prepare a cash budget for July, August, and September.
147. Del Carpio, Inc. sells two products, Widgets and Gadgets. The sales forecast in units for the first quarter of the coming year is:
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Widgets
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Gadgets
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January
|
20,000
|
36,000
|
February
|
28,000
|
60,000
|
March
|
36,000
|
64,000
|
Cash sales are 30% of each product's monthly sales. The remaining sales are credit sales that are collected as follows: 70% in the month of sale, 20% the next month, and 10% in the following month. Unit sale prices are $30 and $20 for Widgets and Gadgets, respectively.
Determine the company's cash receipts for March from its current and past sales.