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Maris Brothers, Inc., needs a cash disbursement schedule for the months of April, May, and June....
Maris Brothers, Inc., needs a cash disbursement schedule for the months of April, May, and June. Use the format given here LOADING... and the following information in its preparation. Sales: February $ 514 comma 000 $514,000; March $ 514 comma 000 $514,000; April $ 555 comma 000 $555,000; May $ 595 comma 000 $595,000; June $ 648 comma 000 $648,000; July $ 655 comma 000 $655,000 Purchases: Purchases are calculated as 57 % 57% of the next month's sales, 9 % 9% of purchases are made in cash, 45 % 45% of purchases are paid for 1 month after purchase, and the remaining 46 % 46% of purchases are paid for 2 months after purchase. Rent: The firm pays rent of $ 8 comma 010 $8,010 per month. Wages and salaries: Base wage and salary costs are fixed at $ 5 comma 800 $5,800 per month plus a variable cost of 6.7 % 6.7% of the current month's sales. Taxes: A tax payment of $ 54 comma 700 $54,700 is due in June. Fixed asset outlays: New equipment costing $ 75 comma 300 $75,300 will be bought and paid for in April. Interest payments: An interest payment of $ 30 comma 500 $30,500 is due in June. Cash dividends: Dividends of $ 12 comma 400 $12,400 will be paid in April. Principal repayments and retirements: No principal repayments or retirements are due during these months.
Complete the cash disbursements schedule for Maris Brothers, Inc. below: (Round to the nearest dollar.)
Solutions
jeff jeffy answered 3 months agoRelated Solutions
Maris Brothers, Inc., needs a cash disbursement schedule for the months of April, May, and June....
Maris Brothers, Inc., needs a cash disbursement schedule for
the months of April, May, and June. Use the format given here
and the following information in its preparation.
Sales: February
$514,000;
March
$489,000;
April
$550,000;
May
$586,000;
June
$663,000;
July $668,000Purchases: Purchases are calculated as
57%
of the next month's sales,
11%
of purchases are made in cash,
46%
of purchases are paid for 1 month after purchase, and the
remaining
43%
of purchases are paid for 2 months after...
Cash disbursements schedule Maris Brothers, Inc., needs a cash disbursement schedule for the months of April,...
Cash disbursements schedule Maris Brothers, Inc., needs a
cash disbursement schedule for the months of April, May, and June.
Use the format given here
and the following information in its preparation.
Sales:
February $505,000;
March $518,000;
April $572,000;
May $617,000;
June $670,000;
July $665,000
Purchases: Purchases are calculated as
55%
of the next month's sales,
9%
of purchases are made in cash, 52% of purchases are paid for 1
month after purchase, and the remaining 39% of purchases are paid...
Cash disbursements scheduleMaris Brothers, Inc., needs a cash disbursement schedule for the months of April, May,...
Cash disbursements scheduleMaris Brothers, Inc., needs a cash
disbursement schedule for the months of April, May, and June and
the following information in its preparation.Sales:February
March $481,000;
April $535,000;
May $588,000;
June $656,000;
July $625,000
Purchases are calculated as 57% of the next month's sales,12%
of purchases are made in cash, 48%
of purchases are paid for 1 month after purchase, and the
remaining 40%
of purchases are paid for 2 months after purchase.Rent: The
firm pays rent of $7,970...
P4-9 (similar to) Cash disbursements schedule Maris Brothers, Inc., needs a cash disbursement schedule for the...
P4-9 (similar to)
Cash disbursements schedule Maris Brothers, Inc., needs a
cash disbursement schedule for the months of April, May, and June.
Use the format given here
LOADING...
and the following information in its preparation.Sales:
February
$ 520 comma 000
;
March
$ 508 comma 000
;
April
$ 555 comma 000
;
May
$ 586 comma 000
;
June
$ 651 comma 000
;
July $ 648 comma 000Purchases: Purchases are calculated as
61 %
of the next month's...
Lumber River Corporation is studying its cash needs for April, May and June and has gathered...
Lumber River Corporation is studying its cash needs for
April, May and June and has gathered the following
information:
April
May
June
Sales
$55,000
$58,000
$50,000
Purchases
$26,000
$21,000
$19,000
Cash Operating
Costs
$33,000
$32,000
$25,000
Beginning Balances for April in the Cash Account are
$6,500; in Accounts Receivable $21,000; and in Accounts Payable
$18,000.
Seventy percent of all customer accounts are collected
in the month of sale; the remainder are collected the next
month.
Forty percent of the...
Cash Budget Problem: Francesca’s Fragrances, Inc. Prepare Cash Budget for April, May, June 2019 Follow the...
Cash Budget Problem: Francesca’s Fragrances,
Inc.
Prepare Cash Budget for April, May, June
2019
Follow the following to prepare the budget:
1. Real Sales
2019:
January
- $200,000
February
- $400,000
March
- $350,000
Projected for 2019: April
- $500,000
May
- $400,000
June
- $450,000
Sales Payment
History:
10% cash
30% Accts. Rec. – collected n/30 days
60% Accts. Rec. – collected...
The second quarter of 2020 (i.e., the months of April, May, June) saw the deepest recession...
The second quarter of 2020 (i.e., the months of April, May,
June) saw the deepest recession in the Canadian economy in terms of
contraction in economic activity and employment. which recovery
path for output and employment from the following set of
possibilities is the economy likely to take over the next year or
so: V-shaped, U-shaped, L-shaped, W-shaped, K-shaped Please pick
only one and justify reasoning
Ruiz Co. provides the following sales forecast for the next four months: April May June...
Ruiz Co. provides the following sales forecast for the next four
months:
April
May
June
July
Sales (units)
690
770
720
810
The company wants to end each month with ending finished goods
inventory equal to 30% of next month's forecasted sales. Finished
goods inventory on April 1 is 207 units. Assume July's budgeted
production is 720 units. In addition, each finished unit requires
five pounds (lbs.) of raw materials and the company wants to end
each month with...
Ruiz Co. provides the following sales forecast for the next four months: April May June...
Ruiz Co. provides the following sales forecast for the next four
months:
April
May
June
July
Sales (units)
690
770
720
810
The company wants to end each month with ending finished goods
inventory equal to 40% of next month's forecasted sales. Finished
goods inventory on April 1 is 276 units. Assume July's budgeted
production is 720 units. In addition, each finished unit requires
five pounds (lbs.) of raw materials and the company wants to end
each month with...
Ruiz Co. provides the following sales forecast for the next four months: April May June...
Ruiz Co. provides the following sales forecast for the next four
months:
April
May
June
July
Sales (units)
620
700
650
740
The company wants to end each month with ending finished goods
inventory equal to 40% of next month's forecasted sales. Finished
goods inventory on April 1 is 248 units. Assume July's budgeted
production is 650 units. In addition, each finished unit requires
five pounds (lbs.) of raw materials and the company wants to end
each month with...
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