Group Project - Budgeting Universal Electronics is a small, rapidly growing wholesaler of consumer electronic products. The firm’s main product...

2000

December January February March Quarter

Total Sales -

Cash Sales -

Sales on Account -

January February March Quarter

Cash sales -

Credit sales: current month -

Credit sales: previous month -

Total Cash Receipts - - - -

2000

December January February March Quarter

Budgeted COGS

Add desired End Inv

Total Needs

Less Beg Inv

Required Purchases - - - - -

January February March Quarter

Inventory Purchases:

$ Payments: current month

$ Payments: previous month

Total $ Payments for Inventory

Other Expenses:

Sales salaries

Advertising & Promotion

Administrative Salaries

Interest on Bonds

Property Taxes

Sales commissions

Total $ Paid for Other Expenses - - - -

Total Cash Disbursements - - - -

Universal Electronics Sales Budget

2001

Cash Receipts Budget

2001

Purchases Budget

2001

Cash Disbursements Budget

2001

January February March Quarter

Cash Receipts

Less: Cash Disbursements

Change in cash balance from operations

Sale of Marketable Securities (1/2/01)

Proceeds from bank loan (1/2/01)

Purchase of Equipment

Repayment of Bank Loan (3/31/01)

Interest on bank loan

Payment of Dividends

Change in cash balance during 1st Quarter

Cash balance, 1/1/01

Cash balance, 3/31/01 -

Projected cash balance as of 12/31/00

Less: Minimum Cash balance

Cash available for Equipment purchase

Projected proceeds from sale of marketable securities

Cash available

Less: Cost of investment in Equipment

Required ST borrowing -

Sales

Less: COGS

Gross Margin

Less: Operating Expenses

Sales salaries

Advertising & Promotion

Administrative Salaries

Interest on Bonds

Property Taxes

Sales commissions

Depreciation

Interest on ST Loan

Total Operating Expenses -

Net Income -

Universal Electronics

Budgeted Income Statement

For the Quarter Ending March 31, 2001

Cash Budget

2001

Analysis of ST financing needs:

Beginning Retained Earnings

Plus: Net Income

Less: Dividends

Ending Retained Earnings -

Cash

Accounts Receivable

Inventory

Buildings & Equipment (net of accum depr)

Total Assets -

Accounts Payable

Bond Interest Payable

Property Taxes Payable

Bonds Payable (10%; due in 2006)

Common Stock

Retained Earnings

Total Liabilities & Stockholders' Equity -

Universal Electronics

Budgeted Statement of Retained Earnings

For the Quarter Ending March 31, 2001

Universal Electronics

Budgeted Balance Sheet

March 31, 2001