Question
In: Accounting
Create a master budget for the first year of operations for a consulting business that offers...
Create a master budget for the first year of operations for a consulting business that offers training services. The master budget should include the operating budgets and the financial budgets. (make use of assumed figures)
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations.
Prepare an accounting equation from the list of transactions that has been provided.Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations.Lita Lopez invested $64,000 cash and equipment valued at $32,000 in the company in exchange for itscommon stock.The company purchased a building for $43,000 cash.The company purchased equipment for $5,800 cash.The company purchased $3,900 of supplies and $1,800 of equipment on credit.The company paid $930 cash for advertising expenses.The company...
Operating Budget Create an operating budget for the first quarter of a new business. Projected Sales...
Operating Budget
Create an operating budget for the first quarter of a
new business.
Projected Sales are:
Month #1: $65,000
Month #2: $97,500
Month #3: $130,000
Month #4: $110,500
These sales are based on selling one product with a selling
price of $6.50
Create a Production Budget based on Units (not
dollars).
Desired Finished Goods Ending Inventory each month is 10% of the
next month’s projected sales. (Use the Finished Goods Ending
Inventory amount for the previous year for the...
Dalton Manufacturing is preparing its master budget for the first quarter of the upcoming year. The...
Dalton Manufacturing is preparing its master budget for the
first quarter of the upcoming year. The following data pertain to
Dalton Manufacturing's operations:
Current Assets as of December 31 (prior year):
Cash. . . . . . . . . . . . . . . . . . . . . . . . . .
.$4,460
Accounts receivable, net. . . . . . . . . . . $48,000
Inventory. . . . . . . ....
Dalton Manufacturing is preparing its master budget for the first quarter of the upcoming year. The...
Dalton Manufacturing is preparing its master budget for the
first quarter of the upcoming year. The following data pertain to
Dalton Manufacturing's operations:
Current Assets as of December 31 (prior year):
Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.
$4,460
Accounts receivable, net. . . . . . . . . . . . .
$46,000
Inventory....
Jesper Manufacturing is preparing its master budget for the first quarter of the upcoming year. The...
Jesper Manufacturing is preparing its master budget for the
first quarter of the upcoming year. The following data pertain to
Jesper Manufacturing's operations:
Current Assets of December 31 (prior year):
Cash $4,460
Accounts receivable, net $52,000
Inventory $15,400
Property, plant and equipment, net $122,000
Accounts payable $44,000
Common stock $126,860
Retained earning $23,000
a. Actual sales in December were $76,000. Selling price per unit
is projected to remain stable at $9 per unit throughout the budget
period. Sales for the...
Dalton Manufacturing is preparing its master budget for the first quarter of the upcoming year. The...
Dalton Manufacturing is preparing its master budget for the
first quarter of the upcoming year. The following data pertain to
Dalton Manufacturing's operations:
Current Assets as of December 31 (prior year):
Cash. . . . . . . . . . . . . . . . . . . . . . . . . .
.$4,460
Accounts receivable, net. . . . . . . . . . . $48,000
Inventory. . . . . . . ....
Jesper Manufacturing is preparing its master budget for the first quarter of the upcoming year. The...
Jesper Manufacturing
is preparing its master budget for the first quarter of the
upcoming year. The following data pertain to Jesper Manufacturing's
operations:
Current Assets as of
December 31 (prior year):
Cash
$4,460
Accounts receivable, net
$52,000
Inventory
$15,400
Property, plant, and
equipment, net
$122,000
Accounts payable
$44,000
Common stock
$126,860
Retained
earnings
$23,000
Actual sales in December were $76,000. Selling price per unit
is projected to remain stable at $9 per unit throughout the budget
period. Sales for the...
Decker Manufacturing is preparing its master budget for the first quarter of the upcoming year. The...
Decker Manufacturing is preparing its master budget for the
first quarter of the upcoming year. The following data pertain
to
Decker
Manufacturing's operations:
LOADING...
(Click the icon to view additional data.)Read the
requirements
LOADING...
.
Requirement 1. Prepare a schedule of cash
collections for January, February, and March, and for the quarter
in total.
Decker Manufacturing
Cash Collections Budget
For the Quarter Ended March 31
Month
January
February
March
Quarter
Cash sales
$24,000
$27,600
$29,700
Credits sales
Total cash...
Jesper Manufacturing is preparing its master budget for the first quarter of the upcoming year. The...
Jesper Manufacturing
is preparing its master budget for the first quarter of the
upcoming year. The following data pertain to Jesper Manufacturing's
operations:
Current Assets as of December 31
(prior year):
Cash
$4,460
Accounts
receivable, net
$52,000
Inventory
$15,400
Property, plant, and equipment,
net
$122,000
Accounts payable
$44,000
Common stock
$126,860
Retained earnings
$23,000
Actual sales in December were $76,000. Selling price per unit
is projected to remain stable at $9 per unit throughout the budget
period....
Derry Manufacturing is preparing its master budget for the first quarter of the upcoming year. The...
Derry Manufacturing is preparing its master budget for the first
quarter of the upcoming year. The following data pertain to Derry
Manufacturing's operations:
Current Assets as of December 31 (prior year):
Cash. . . . . . . . . . . . . . . . . . . . . . . . . . .
$4,500
Accounts receivable, net. . . . . . . . . . . . . . .
$46,000
Inventory. . ....
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Suppose Rialto is the only movie cinema in a small college town, so it is essentially...
- With VMI, members of the supply chain share planning, demand, forecasting, and inventory information.
- Large lots are desirable in supply chain coordination despite increasing holding costs.
- ***Convert the C++ to Python*** #include <iostream> using std::cout; using std::cin; using std::endl; int charClass; char...
- Make-or-Buy Decision Fremont Computer Company has been purchasing carrying cases for its portable computers at a...
- The following costs were incurred for the single product produced during the first year of operations...
- Non-constant growth model: Do=$2.00 required return on equity= 5% g= 9% n=1,2 g=7% n=3,4 g=3% n=5...
ADVERTISEMENT