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    Book 1

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    yuhazelmae
    Lucky Merchandising's cash budget for 2010 projected quarterly cash balances, receipts from accounts receivable collections, cash payments for expenses and equipment, and financing activities. The budget projected a total cash surplus of $26,669 for the year, with cash balance ending at $25,229. Cash receipts were projected to be $537,750 for the year while cash payments like expenses, dividends and taxes were projected to be $521,081, leaving a cash surplus. Financing activities like borrowing and repayments were projected to net to $-1,440 for the year.

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    Book 1

    Uploaded by

    yuhazelmae
    3 views1 page
    Lucky Merchandising's cash budget for 2010 projected quarterly cash balances, receipts from accounts receivable collections, cash payments for expenses and equipment, and financing activities. The budget projected a total cash surplus of $26,669 for the year, with cash balance ending at $25,229. Cash receipts were projected to be $537,750 for the year while cash payments like expenses, dividends and taxes were projected to be $521,081, leaving a cash surplus. Financing activities like borrowing and repayments were projected to net to $-1,440 for the year.

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    Lucky Merchandising's cash budget for 2010 projected quarterly cash balances, receipts from accounts receivable collections, cash payments for expenses and equipment, and financing activities. The budget projected a total cash surplus of $26,669 for the year, with cash balance ending at $25,229. Cash receipts were projected to be $537,750 for the year while cash payments like expenses, dividends and taxes were projected to be $521,081, leaving a cash surplus. Financing activities like borrowing and repayments were projected to net to $-1,440 for the year.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    3 views1 page

    Book 1

    Uploaded by

    yuhazelmae
    Lucky Merchandising's cash budget for 2010 projected quarterly cash balances, receipts from accounts receivable collections, cash payments for expenses and equipment, and financing activities. The budget projected a total cash surplus of $26,669 for the year, with cash balance ending at $25,229. Cash receipts were projected to be $537,750 for the year while cash payments like expenses, dividends and taxes were projected to be $521,081, leaving a cash surplus. Financing activities like borrowing and repayments were projected to net to $-1,440 for the year.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 1

    Lucky Merchandising

    Cash Budget
    For the year Ended Dec. 31, 2010
    Quarter
    1 2 3 4 Total
    Cash balance, beg 10,000 10,238 12,357 10,335 10,000
    add: Cash recipts
    Accounts Receivable collection 107,850 125,100 143,100 161,700 537,750
    Total cash available 117,850 135,338 155,457 172,035 547,750
    less: cash payments
    DM 11,165 10,286 11,837 12,663 45,951
    DL 56,250 52,560 65,520 68,760 243,360
    Factory Overhead 27,228 25,495 31,165 32,583 116,470
    Selling and administrative expense 19,200 18,300 20,100 20,700 78,300
    Purchase of equipment 25,000 25,000
    Cash dividend 1,500 1,500 1,500 1,500 6,000
    Income tax payment 6,000 6,000
    121,612 108,141 155,122 136,206 521,081
    Cash surplus (deficit) -3,762 27,197 335 35, 829 26,669
    Financing
    Borrowing 14,000 10,000 24,000
    Repayment -14,000 10,000 -24,000
    Interest -840 -600 -1,440
    Total financing 14,000 -14,480 10,000 -10,600 -1,440
    Cash balance, ending 10,238 12,357 10,335 25,229 25,229

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