Question

please leave notes on where the calculation came from. much appreciated.

1. Bocade Company, a retailer of camping supplies has budgeted activity for January using the following data: Cash sales $25,000 Credit sales (60% collected in month of 380,000 sale) Selling and administrative costs (including 50,000 depreciation) Depreciation expense 5,000 Merchandise Inventory, January 1 21,000 Merchandise Inventory, January 31 20,000 Beginning cash balance 3,000 Minimum cash balance required 2,500 Cost of goods sold is 55% of Cooper's selling price All purchases are paid in cash Selling and administrative costs are paid in month of purchase Required Prepare a cash budget for January

Answer 1

AnSw er In the baaks 0f Bocade Company Cash Bldget ferJanyay 2xxx Amt(f Amt fgwit furslgs Speniog Cuh ealag.c + Inflou dw Ta cy Cquh Sale 2 allection fom Accauotr Recevabl 228000 C60% of Gelit Sales) (60% of 3Po BO00 25000 380000 253000 2256000 Outflows delaythe yee ) Selling Adminsktu (st t000-So00 ం (256350 (100 Loan token to ogiatgin mim Carh balsgce 132 50 Closing Cah Balance 2500

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