Prepare the september cash budget for pto manufacturing co
Course:- Accounting Basics
Reference No.:- EM131599401

Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Accounting Basics

Problem - Use the following information to prepare the September cash budget for PTO Manufacturing Co. The following information relates to expected cash receipts and cash disbursements for the month ended September 30.

a. Beginning cash balance. September 1, $45,000.

b. Budgeted cash receipts from sales in September, $263,000.

c. Raw materials are purchased on account. Purchase amounts are: August (Actual), $76.000, and September (budgeted), $102,000. Payments for direct materials are made as follows: 65% in the month of purchase and 35% in the month following purchase.

d. Budgeted cash disbursements for direct labor in September, $32,000.

e. Budgeted depreciation expense for September, $3,300.

f. Other cash expenses budgeted for September, $51,000.

g. Accrued income taxes payable in September, $10,800.

h. Bank loan interest payable in September, $1.400.

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
Compare and contrast start-up costs and organizational expenditures. Describe how the tax treatment of these expenditures differs from the treatment for financial accounting
Search the Internet for information on a MNC, publicly-traded company. Download the annual report for the most recent year reported; review the information contained on the
John Haven purchased a bond for $9,500. The bond pays $300 interest every six months. If John decides to sell the bond after 18 months for $10,000 what would be his:
On 12/31/09, the ABC Co. had Retained Earnings of $400,000. During 2010, dividends of $3,000 were paid. There was a net income of $4,000 for the year 2010. What should be th
1. CEOs. A business publication recently released a study on the total number of years of experience in industry among CEOs. The mean is provided in the article, but not the
Create a scatter chart that displays the variable total profit (and no other variables) as a function of the number of wardrobes produced and sold. At low production quantit
Your organization, located in Ontario, will be enhancing the group benefits plan offered to employees in two months by adding accidental death and dismemberment (AD&D) cover
The current tax law system in the United States has emerged over many years from statutory, administrative, and judicial sources. These sources are continually changing and