Budget Assignment

MBA6203-P9-39-Template1.xlsx

Balance Sheet - 03312017

DILS BROTHERS DEPARTMENT STORE
Balance Sheet
March 31, 2017
Assets		Liabilities and Stockholders' Equity
Cash	4,000	Accounts payable	31,000
Accounts receivable	31,000	Dividends payable	15,000
Inventory	36,000	Rent payable	3,000
Prepaid insurance	3,000	Stockholders' equity	50,000
Fixtures	25,000
Total assets	$ 99,000	Total liabilities and equity	$ 99,000

MBA 6203 - Problem 9-39 &F

	January	February	March	April	May	June	July	August
Revenue	$ 70,000	$ 60,000	$ 50,000	$ 60,000	$ 70,000	$ 80,000	$ 100,000	$ 90,000
Dividends	$ 15,000	Declared in 3rd month and paid during 1st month of following qtr
Operating Expenses		Paid as incurred
Rent		Paid in following month
Prepaid Insurance		For 5 months
COGS	50%	of sales
Ending inventory	120%	of next month's COGS
Purchases		Paid in full during following month
Sales		All on account
	50%	collected in month of sale
	40%	collected in following month
	10%	second month following sales
Interest	12%	per year
Borrowing/Repayment		In even $1,000 increments
Borrowing		At beginning of month
Repayment		At end of month
Minimum Cash balance	$ 4,000
Monthly operating expenses
Wages and salaries	$ 27,000
Depreciation	$ 100
Utilities	$ 1,500
Rent	$ 3,000
Insurance	$ 600

MBA 6203 - Problem 9-39 &F

MBA 6203 - Problem 9-39 &F

Cash Sales		All sales on account		Minimum Cash
				Annual Interest
				Monthly Interest	0.0%
Credit Sales		Current Month	Next Month	2nd Month
Payment for Merchandise Purchases		Current Month	Next Month	2nd Month
		April	May	June	Total Qtr 2
Beginning Balance, Cash					$0.00
Cash Receipts:
February Sales					$0.00
March Sales					$0.00
April Sales					$0.00
May Sales					$0.00
JuneSales					$0.00
Total Cash Receipts		$0.00	$0.00	$0.00	$0.00
Total Cash Available		$0.00	$0.00	$0.00	$0.00
Cash Disbursements:
March Purchases					$0.00
April Purchases					$0.00
May Purchases					$0.00
June Purchases					$0.00
Dividends Paid
Wages and salaries					$0.00
Utilities					$0.00
Rent					$0.00
Interest					$0.00
Total Cash Disbursements		$0.00	$0.00	$0.00	$0.00
Minimum Cash Balance		$0.00	$0.00	$0.00	$0.00
Total cash needed		$0.00	$0.00	$0.00	$0.00
Cash excess (deficit)		$0.00	$0.00	$0.00	$0.00
Financing
Borrowing		$0.00	$0.00	$0.00	$0.00
Repayments		$0.00	$0.00	$0.00	$0.00
Total cash from financing		$0.00	$0.00	$0.00	$0.00
Ending cash balance		$0.00	$0.00	$0.00	$0.00
Line-of-Credit Balance	$0.00	$0.00	$0.00	$0.00	$0.00

MBA 6203 - Problem 9-39 &F

DILS BROTHERS DEPARTMENT STORE
Income Statement
For the period ending March 31, 2017
	April	May	June	2nd Qtr
Sales
- COGS
= Gross Margin
Operating Expenses
Wages and salaries
Depreciation
Utilities
Rent
Total Operating Expenses
Net Operating Income

MBA 6203 - Problem 9-39 &F

DILS BROTHERS DEPARTMENT STORE
Balance Sheet
As of June 30, 2017
Assets			Liabilities and Stockholders' Equity
Cash			Accounts payable
Accounts receivable			Dividends payable
Inventory			Rent payable
Prepaid insurance			Stockholders' equity
Fixtures
Total assets			Total liabilities and equity
DILS BROTHERS DEPARTMENT STORE
Statement of Retained Earnings
As of June 30, 2017
Beginning Balance, Retained Earnings
Plus: Net Income (Loss)
Less: Dividends
Ending Balance, Retained Earnings

MBA 6203 - Problem 9-39 &F