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- A4) Create a budget on a spreadsheet supposing you earn $45,000 a yearA company has completed the operating budget and the cash budget. It is now preparing the budgeted balance sheet. Please use the below image as your guide for the next 5 questions. )dentify the document that contains accounts receivable A B C D EA company has completed the operating budget and the cash budget. It is now preparing the budgeted balance sheet. Please use the below image as your guide for the next 5 questions. Identify the document that contains cash balance.* A B C D E
- A company has completed the operating budget and the cash budget. It is now preparing the budgeted balance sheet. Please use the below image as your guide for the next 5 questions. Identify the document that contains accounts payable A B C D EGood day . can you please assist on the attached photo below. Q.1 prepare the schedule of budgeted receipts from debtors for the quarter ending 30 november 2019. Show all the calculations . round to the two decimal places.Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter: a. As of December 31 (the end of the prior quarter), the company's general ledger showed the following account balances: Cash Accounts receivable Inventory Buildings and equipment (net) Accounts payable Common stock Retained earnings $ 47,000 205,600 58,800 357,000 $ 87,225 500,000 81,175 $ 668,400 $ 668,400 b. Actual sales for December and budgeted sales for the next four months are as follows: December(actual) January February March $ 257,000 $ 392,000 $ 589,000 $ 303,000 $ 200,000 April c. Sales are 20% for cash and 80% on credit. All payments on credit sales are collected in the month following sale. The accounts receivable at December 31 are a result of December credit sales. d. The company's gross margin is 40% of sales. (In other words, cost of goods sold is 60% of sales.) e.…
- are available for the months April through June, during which the loan will be used: a. On April 1, the start of the loan period, the cash balance will be $26,800. Accounts receivable on April 1 will total $193,200, of which $165,600 will be collected during April and $22,080 will be collected during May. The remainder will be uncollectible. b. Past experience shows that 30% of a month's sales are collected in the month of sale, 60% in the month following sale, and 8% in the second month following sale. The other 2% is bad debts that are never collected. Budgeted sales and expenses for the three- month period follow: Sales (all on account) Merchandise purchases Payroll Lease payments Advertising Equipment purchases Depreciation April $360,000 $ 275,000 $32,000 $ 38,400 $ 73,000 $0 $ 15,400 Required 1 Required 2 May $ 582,000 $ 227,000 $ 32,000 $ 38,400 $ 73,000 $0 $ 15,400 c. Merchandise purchases are paid in full during the month following purchase. Accounts payable for merchandise…Part D Ken has created a budget, but he wonders if the budget fits his needs. Why would it be useful for Ken to keep records of his expenses and examine them at the end of the year? BIUX² X₂ 15px Space used (includes formatting): 0/15000 O A 2 6 13 8 19 Apr 3 11:36 OQ. Prepare a revenues budget for the year, assuming that Ever Clean charges customers $0.60 per square foot.
- 1.Prepare a tuition revenue budget for the upcoming academic year. 2. Determine the number of faculty members needed to cover classes.2: Company B also uses the Analysis of Receivables method. However, Management has asked us to take a look at the Income Statement Impact if we change the Uncollectible Percentages for Each Budget of Aging. The aging schedule looks like the following: Customer Total Due Curent 1-60 Past Due 61+Past Due A 1,000 1,000 B 1,500 1,500 C 800 800 2,000 2,000 E 500 500 Total: 5,800 2,800 1,000 2,000 Aging Category Current (Not past due) As Is Proposed 3% 2% 1- 60 past due 61+ days past due 5% 4% 9% 8% The balances in the accounts before any adjustments are as follows: current Sales are $400,000, Allowance for Doubtful Accounts has a Credit balance of $250, and bad debt expense has a debit balance of $2,000. If the Company changes from the As Is percentages to the Proposed Percentages, what happens to Net Income on the Income Statement?A company has completed the operating budget and the cash budget. It is now preparing the budgeted balance sheet. Please use the below image as your guide for the next 5 questions. Identify the document that contains equipment purchases A B C D E