Eastmark Stores wants to estimate cash disbursements for cash budgeting purpose
6.9Â Â Â Eastmark Stores wants to estimate cash disbursements for cash budgeting purpose three months of 19B from the data given below.
(a)Â Â Â Â Â Cost of merchandise sold, Â estimated:
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19A, Decem ber
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$225,000
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19B, January
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250,000
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February
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280,000
|
|
March
|
210,000
|
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Thirty-five percent of the cost of merchandise is to be paid for in the month 65 percent of the cost is to be paid for in the month following the month   of
( b )        Wages for each month  are estimated  as follows:
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19A, December
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$23,000
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19B, January
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26,000
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February
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31,000
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March
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25,000
|
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Wages are all paid as incurred.
(c)       Utilities are to be paid every other month at the amount of $320 per  mon payment is to be made in February.
(d )Â Â Â Â Â Six months' rent and insurance amounting to a total of $9,700 is to be paid
( e)        An income tax of $12,500 is to be paid in March.
(!)Â Â Â Â Â Â Â Â Â Â Â Depreciation on office equipment has been estimated at $7,500 for the year
(g)      New equipment costing $50,000 is to be acquired in February with a  down
$4,000 required at date of purchase.
(h)     Other operating expenses have been estimated at $2,250 per month,  which each month.
Prepare a cash disbursement budget for each of the first three months of   19B.
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Answers
Status NEW
Posted 01 Jun 2017 12:06 PM
My Price 5.00
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Attachments
file 1496319687-1368067_1_636318720562933393_Cash-disbursement-budget.xlsx preview (256 words )
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