CourseLover

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Teaching Since: May 2017
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    Devry University
    Sep-2004 - Aug-2010

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    NatSteel Holdings Pte Ltd
    Aug-2007 - Jul-2017

Category > Accounting Posted 19 Dec 2017 My Price 10.00

the equipment is new income or expense

In the followign spreadsheet I am using to help me on this homework several documents have different answers. This spreadsheet at the bottom has me questioning the end answers. It seems that at the bottom in the cash budget that there is a miscalculation because the rent is income but is subtracted from the ending balance. Should it not be added? The next question follows suit to the Equipment being a new income or a new expense. Dividends are an expense pay out. I want to make sure that there is not something that I have overlooked for the first tutor to have subtracted rent and if based on the case study the equipment is new income or expense 

 

Cash budget August Sales 750000.00 Cost of goods sold 525000.00 Gross profit 225000.00 Cash collection Same month with discount Same month without discount Next month Cash collections 0 Sellinga and administrative expenses $ 107,500.00 Advertisment expenses $ 22,500.00 Cash payments of selling and administrative expenses sam $ 64,500.00 Cash payments of selling and administrative expenses nex $ 43,000.00 Cash payments of adverisment - same month $ 13,500.00 Cash payment of advertisment next month $ 9,000.00 Cash payment to suppliers Ending inventory $ 137,812.50 Total purchases $ 662,812.50 Cash payment - same month $ 397,687.50 Cash payment - next month $ 265,125.00 Rent Equipment Dividends Cash budget October Opening balance $ 142,100.00 Cash collection $ 730,575.00 Cash payment to suppliers $ 584,556.00 Cash payment for selling and administrative expenses $ 111,340.00 Cash payment for advertisment $ 24,804.00 Rent $ 24,000.00 Equipment Dividend

 

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CourseLover
(12)
Status NEW Posted 19 Dec 2017 06:12 AM My Price 10.00

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