You have been hired by the company LA PLANEACIÓN, S.A., for your track record in Cash Management and for being a CETYS student. With the following information, prepare a Cash Budget by the input-output method:
(IMAGE) (The image is in Spanish, but I think it is easy to understand, especially for a bartleby expert.)
What I am going to write, is the image, but in English, but please, look at the image in Spanish, so you can better understand the context:
CIA. PLANEACIÓN, S.A.
Balance Sheet as of December 31, 2020
Current Assets:
Cash - 130,000
Accounts receivable - 520,000
Inventory - 450000
Prepaid segment - 50800
Liabilities
Short-term:
Suppliers - 181,500
Commissions payable - 40,000
Taxes payable - 110,000
Short-term loan - 200,000
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Total A.C $1150800
Fixed Assets:
Eq., Furniture and other 370,000
Accumulated depreciation 128,000
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Total Liabilities: $531,500
Stockholders' equity:
Contributed capital $800,000
Earned capital $61,300
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Total Fixed Assets: 242,000
Total Assets: 1392800
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Total Stockholders' Equity: 971,300
Liabilities + equity: 1392,800
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The budgeted monthly sales for the following fiscal year are:
January - 500000
February - 600000
March - 725000
April - 650000
May - 700000
June - 600000
July - 500000
August - 550000
Sales are made: 35% cash and 65% on credit which are collected in the following month. The outstanding receivables from 2020 are on the balance sheet.
The amount of bad debts is insignificant.
Purchases are made two months in advance of what is to be sold. The purchase conditions with suppliers are: 40% of purchases are paid in cash, 30% in the month following the purchase and 30% after two months. The balance payable on the account at December 31 consists of credit purchases in November and credit purchases in December.
Cost of goods sold is 55% of sales.
Salaries and commissions are divided into two parts $35,500 of fixed monthly salaries and commissions of 5% of sales for the month. The commission is paid the following month.
The partners are expected to make a stock sale that would bring in $250,000 in April. There will be an extraordinary income in March of $18,000.
Provisional payments equal to 2.25% of the sales of a month are made, deferring the payment to the first 15 days of the following month. The balance of taxes payable at December 31 consists of 75% income tax and 25% employee profit sharing, payable in March and May, respectively.
On February 1, 2021, a new truck will be purchased for cash at a value of $280,000, which has a useful life of four years and a salvage value of $30,000.
Other monthly expenses are:
Rent is $58,000; miscellaneous expenses: 15% of cash sales. Depreciation excluding the new truck: $75,000 The company wants to maintain a minimum cash balance of $25,000 at the end of the month. The interest rate is 12% per annum for financing and 9% for investments. Loans are borrowed on the 1st of the month in which they are needed and repaid on the 30th of the month in which there is excess cash.
IT IS REQUESTED:
To carry out the six schedules that form the budget of inflows and outflows for the first half of 2021.
(Six schedules, i mean...):
-Cedula cobranza (Collection form)
-Cedula entrada (Incoming invoice)
-Cedula proveedores (Supplier spreadsheet)
-Cedulas salidas (Outgoing spreadsheets)
-Presupuesto efectivo (Cash budget)
-Presupuesto financiero (Financial budget)
IN THE OTHER IMAGE,
IS THE PROGRESS I HAVE OF THE EXERCISE IN EXCEL, SO YOU CAN GUIDE YOURSELF
(Please understand, if you know finance, you know what I am doing in excel.)
Note:
I want to send more images, so you can better understand what I want you to get (more organized I mean), but bartleby won't allow me to...
If you like you can reject this question to send you more images by posting the same question, what do you think bartleby expert :)?
Extracted text: CIA. PLANEACIÓN, S.A. Balance General al 31 de diciembre de 2020 Activo: Pasivo: Circulante: A corto plazo: Caja Ctas. por cobrar Inventario Seg. pag. x anticipado $130,000 520,000 450,000 50,800 $1'150,800 Proveedores Comisiones por pagar Impuestos por pagar $181,500 40,000 110,000 Préstamo a corto plazo 200,000 $531,500 Total de pasivo: Capital Contable: Capital aportado Capital ganado Total Capital contable: PASIVO + CAPITAL Total de A.C. Fijo: Eg., Muebles y otros Depreciación acum. $370,000 128,000 $242,000 $1'392,800 $800,000 61,300 $971,300 $1'392,800 Total Activo Fijo: ACTIVO TOTAL
Extracted text: B49 v ! XV fx =B16*B11 A B G 25 330,000.00 <-diciembre 26="" 275,000.00=""><-noviembre 27 a) cédula cobranza: 28 ventas contado enero febrero marzo abril mayo junio 175,000.00 520,000.00 210,000.00 325,000.00 210,000.00 455,000.00 253,750.00 227,500.00 471,250.00 245,000.00 29 crédito 30 días 390,000.00 422,500.00 30 31 total cobros 695,000.00 535,000.00 643,750.00 698,750.00 667,500.00 665,000.00 32 33 b) cédula entradas: enero febrero marzo abril junio mayo 667,500.00 $0.00 34 cobranza 535,000.00 $0.00 643,750.00 $18,000.00 695,000.00 698,750.00 $0.00 $250,000.00 665,000.00 $0.00 35 otros ingresos $0.00 36 venta de acciones 37 total entradas 695,000.00 535,000.00 661,750.00 698,750.00 667,500.00 665,000.00 38 39 c) cédula proveed: enero febrero marzo abril mayo junio 40 compras contado 159,500.00 99,000.00 143,000.00 154,000.00 132,000.00 115,500.00 107,250.00 110,000.00 121,000.00 41 compras crédito (30dias) 119,625.00 107,250.00 99,000.00 82,500.00 42 compras credito (60dias) 99,000.00 262,61as00 82,500.00 119,625.00 115,500.00 209,000.00 99,000.00 43 pago proveedor 258,500.00 261,250.00 247,500.00 203,500.00 44 45 d) cédula salidas: 46 compras 47 sueldos y salarios febrero marzo abril mayo 209,000.00 35,500.00 junio enero 258,500.00 35,500.00 58,000.00 262,625.00 35,500.00 261,250.00 247,500.00 35,500.00 203,500.00 35,500.00 58,000.00 35,500.00 58,000.00 13,500.00 58,000.00 16,312.50 58,000.00 14,625.00 32,500.00 48 rentas 58,000.00 11,250.00 25,000.00 280000 49 pagos provisionales 15,750.00 35,000.00 50 comisones 40,000.00 30,000.00 36,250.00 51 gastos extraord. 52 pago anual isr sheet1 27="" a)="" cédula="" cobranza:="" 28="" ventas="" contado="" enero="" febrero="" marzo="" abril="" mayo="" junio="" 175,000.00="" 520,000.00="" 210,000.00="" 325,000.00="" 210,000.00="" 455,000.00="" 253,750.00="" 227,500.00="" 471,250.00="" 245,000.00="" 29="" crédito="" 30="" días="" 390,000.00="" 422,500.00="" 30="" 31="" total="" cobros="" 695,000.00="" 535,000.00="" 643,750.00="" 698,750.00="" 667,500.00="" 665,000.00="" 32="" 33="" b)="" cédula="" entradas:="" enero="" febrero="" marzo="" abril="" junio="" mayo="" 667,500.00="" $0.00="" 34="" cobranza="" 535,000.00="" $0.00="" 643,750.00="" $18,000.00="" 695,000.00="" 698,750.00="" $0.00="" $250,000.00="" 665,000.00="" $0.00="" 35="" otros="" ingresos="" $0.00="" 36="" venta="" de="" acciones="" 37="" total="" entradas="" 695,000.00="" 535,000.00="" 661,750.00="" 698,750.00="" 667,500.00="" 665,000.00="" 38="" 39="" c)="" cédula="" proveed:="" enero="" febrero="" marzo="" abril="" mayo="" junio="" 40="" compras="" contado="" 159,500.00="" 99,000.00="" 143,000.00="" 154,000.00="" 132,000.00="" 115,500.00="" 107,250.00="" 110,000.00="" 121,000.00="" 41="" compras="" crédito="" (30dias)="" 119,625.00="" 107,250.00="" 99,000.00="" 82,500.00="" 42="" compras="" credito="" (60dias)="" 99,000.00="" 262,61as00="" 82,500.00="" 119,625.00="" 115,500.00="" 209,000.00="" 99,000.00="" 43="" pago="" proveedor="" 258,500.00="" 261,250.00="" 247,500.00="" 203,500.00="" 44="" 45="" d)="" cédula="" salidas:="" 46="" compras="" 47="" sueldos="" y="" salarios="" febrero="" marzo="" abril="" mayo="" 209,000.00="" 35,500.00="" junio="" enero="" 258,500.00="" 35,500.00="" 58,000.00="" 262,625.00="" 35,500.00="" 261,250.00="" 247,500.00="" 35,500.00="" 203,500.00="" 35,500.00="" 58,000.00="" 35,500.00="" 58,000.00="" 13,500.00="" 58,000.00="" 16,312.50="" 58,000.00="" 14,625.00="" 32,500.00="" 48="" rentas="" 58,000.00="" 11,250.00="" 25,000.00="" 280000="" 49="" pagos="" provisionales="" 15,750.00="" 35,000.00="" 50="" comisones="" 40,000.00="" 30,000.00="" 36,250.00="" 51="" gastos="" extraord.="" 52="" pago="" anual="" isr="">