ACCT505 Course Project A: Course Project Part A is due this week. Please see the instructions in the Course Project item under Course Home, as well as the Excel spreadsheet located in Doc Sharing. Also, please visit the related discussion area in Week 5.
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copy_of_project_a_excel_template.xlsxHome>Business & Finance homework help>Accounting homework help>ACCT505 Course Project A: Course Project Part A is due this week. Please see the instructions in the Course Project item under Course Home, as well as the Excel spreadsheet located in Doc Sharing. Also, please visit the related discussion area in Week 5.
Project A Case 9-30
| PROJECT A - Case 9-30 | ||||||
| Student Name: | ||||||
| SALES BUDGET: | ||||||
| April | May | June | Quarter | |||
| Budgeted unit sales | ||||||
| Selling price per unit | ||||||
| Total Sales | ||||||
| SCHEDULE OF EXPECTED CASH COLLECTIONS: | ||||||
| April | May | June | Quarter | |||
| February sales | ||||||
| March sales | ||||||
| April sales | ||||||
| May sales | ||||||
| June sales | ||||||
| Total Cash Collections | ||||||
| MERCHANDISE PURCHASES BUDGET: | ||||||
| April | May | June | Quarter | |||
| Budgeted unit sales | ||||||
| Add desired ending inventory | ||||||
| Total needs | ||||||
| Less beginning inventory | ||||||
| Required purchases | ||||||
| Cost of purchases @ $4 per unit | ||||||
| BUDGETED CASH DISBURSEMENTS FOR MERCHANDISE PURCHASES: | ||||||
| April | May | June | Quarter | |||
| Accounts payable | ||||||
| April purchases | ||||||
| May purchases | ||||||
| June purchases | ||||||
| Total cash payments | ||||||
| EARRINGS UNLIMITED | ||||||
| CASH BUDGET | ||||||
| FOR THE THREE MONTHS ENDING JUNE 30 | ||||||
| April | May | June | Quarter | |||
| Cash balance | ||||||
| Add collections from customers | ||||||
| Total cash available | ||||||
| Less Disbursements | ||||||
| Merchandise purchases | ||||||
| Advertising | ||||||
| Rent | ||||||
| Salaries | ||||||
| Commissions | ||||||
| Utilities | ||||||
| Equipment purchases | ||||||
| Dividends paid | ||||||
| Total Disbursements | ||||||
| Excess (deficiency) of receipts | ||||||
| over disbursements | ||||||
| Financing: | ||||||
| Borrowings | ||||||
| Repayments | ||||||
| Interest | ||||||
| Total financing | ||||||
| Cash balance, ending | ||||||
| EARRINGS UNLIMITED | ||||||
| BUDGETED INCOME STATEMENT | ||||||
| FOR THE THREE MONTHS ENDED JUNE 30 | ||||||
| Sales | - 0 | |||||
| Variable expenses: | ||||||
| Cost of goods sold | - 0 | |||||
| Commissions | - 0 | - 0 | ||||
| Contribution Margin | - 0 | |||||
| Fixed expenses: | ||||||
| Advertising | - 0 | |||||
| Rent | - 0 | |||||
| Salaries | - 0 | |||||
| Utilities | - 0 | |||||
| Insurance | - 0 | |||||
| Depreciation | - 0 | - 0 | ||||
| Net operating income | - 0 | |||||
| Interest expense | - 0 | |||||
| Net income | - 0 | |||||
| EARRINGS UNLIMITED | ||||||
| BUDGETED BALANCE SHEET | ||||||
| JUNE 30 | ||||||
| Assets: | ||||||
| Cash | ||||||
| Accounts receivable (see below) | ||||||
| Inventory | ||||||
| Prepaid insurance | ||||||
| Property and equipment, net | ||||||
| Total assets | ||||||
| Liabilities and Stockholders' Equity | ||||||
| Accounts payable, purchases | ||||||
| Dividends payable | ||||||
| Capital stock | ||||||
| Retained earnings (see below) | ||||||
| Total liabilities and stockholders' equity | ||||||
| Accounts receivable at June 30: | ||||||
| May sales x ?% | ||||||
| June sales x ?% | ||||||
| Total | ||||||
| Retained earnings at June 30: | ||||||
| Balance, March 31 | ||||||
| Add net income | ||||||
| Total | ||||||
| Less dividends declared | ||||||
| Balance, June 30 | ||||||
