Dec Jan Feb Mar Total (Q1)

Sales 280000 400000 600000 300000 1300000

COGS (60%) 240000 360000 180000 780000
Apr
200000
120000
 1 Schedule of Cash Collection
Description Jan Feb
Cash Sales 80,000 120,000
Credit Sales 224,000 320,000
Total Collection 304,000 440,000

1 Schedule of Cash Collection

Description Jan Feb
From AR 224,000
From Jan Sale 80,000 320,000
From Feb Sale 120,000
From Mar Sale
Total 304,000 440,000

2.a. Merchandise Purchase Budget

Description Jan Feb
COGS 240,000 360,000
Add: Desired EI 90,000 45,000
Total Needs 330,000 405,000
Deduct: Beg Inv. 60,000 90,000
Required Purchase 270,000 315,000

2.b. Schedule of Cash Disbursements for Mer Purchase

Description Jan Feb
For AP 93,000
For Jan Purchase 135,000 135,000
For Feb Purchase 157,500
For Mar Purchase
Total 228,000 292,500

2.c. Schedule of Cash Disbursements for Selling & Admin. Exp.

Description Jan Feb
Salaries & Wages 27,000 27,000
Advertisement 70,000 70,000
Shipping Exp. 20,000 30,000
Others Exp. 12,000 18,000
Total 129,000 145,000

3. Cash Budget
Descrition Jan Feb
Beginning Balance 48,000 30,000
Add: Cash Collection 304,000 440,000
Total Cash Available 352,000 470,000
Cash Disbursements for Mer. Purchase 228,000 292,500
Cash Disbursements for S & A Exp. 129,000 145,000
Dividend Payment 45,000
Payment for Purchase of Equipment 1,700
Total Cash Disbursements 402,000 439,200
Surplus/(Defict) -50,000 30,800
(+) Borrowing 80,000
(-) Repayments (inclduing interest)
Ending Cash Balance 30,000 30,800

Income Statement
For the Quarter Ended on March 31, 2020
Description Amount
Total Sales Revenue 1,300,000
Less: COGS 780,000
Grosss Margin 520,000
Less:Operating Expenses (including Depr'n) 437,000
NOI 83,000
Less: Interest Expense 2,400
Net Income 80,600
Dividend 45,000
Retained Earning 35,600

Balance Sheet
31-Mar-20
Description Amount
Assets:
Cash 42,900
Inventory 30,000
AR 240,000
Buildings & Equipments (net) 414,200
Total Assets 727,100
Liabilities:
AP 82,500
Owner's Equity:
Capital Stock 500,000
Retained Earnings 144,600
Total Liab. & OE 727,100
h Collection Cash on Mar 31 42900
Mar Total (Q1) AR on Mar 31 240000
60,000 260,000 AP on Mar 31 82500
480,000 1,024,000 Inv. on Mar 31 30000
540,000 1,284,000 Interest Exp. 2400

h Collection
Mar Total (Q1)
224,000
400,000
480,000 600,000
60,000 60,000
540,000 1,284,000

urchase Budget
Mar Total (Q1)
180,000 780,000
30,000 30,000
210,000 810,000
45,000 60,000
165,000 750,000

Mar Total (Q1)

93,000
270,000
157,500 315,000
 82,500 82,500
240,000 760,500

Mar Total (Q1)

27,000 81,000
70,000 210,000
15,000 65,000
9,000 39,000
121,000 395,000

Mar Total (Q1)

30,800 48,000
540,000 1,284,000
570,800 1,332,000
240,000 760,500
121,000 395,000
45,000
84,500 86,200
445,500 1,286,700
125,300 45,300
80,000
-82,400 -82,400
42,900 42,900