Cash Budget - The following information applies to Company A: Jan. Feb. Mar. Apr. Miscellanous cash...

Cash Budget - The following information applies to Company A:

	Jan.	Feb.	Mar.	Apr.
Miscellanous cash payments	$25,000	$30,000	$22,000	$32,000

	Nov.	Dec.	Jan.	Feb.	Mar.	Apr.
Sales	$200,000	$325,000	$250,000	$240,000	$260,000	$270,000

Assume Company A collects 20% of its sales in the month of the sale, 50% the next month, 25% the following month, and 5% is never collected.

	Dec.	Jan.	Feb.	Mar.	Apr.
Purchases	$210,000	$150,000	$170,000	$180,000	$190,000

Assume Company A makes cash payments of 40% o fits purchases in the month of the purchase and pays the remaining 60% the following month.

(QUESTION 1) Use the above information, to construct a cash budget for Company A for January through April. Company A began January with a cash balance of $100,000. (Include formulas used to solve problem).

Cash Budget - The following information applies to Company B:

	Jan	Feb	Mar	Apr
Miscellaneous cash payments	$15,000	$18,000	$27,000	$29,000

	Nov.	Dec.	Jan.	Feb.	Mar.	Apr.
Sales	$440,000	$500,000	$450,000	$480,000	$500,000	$430,000

Assume Company B collects 35% of its sales in the month of the sale, 40% the next month, 15% the following month, adn 10% is never collected.

	Dec.	Jan.	Feb.	Mar.	Apr.
Purchases	$350,000	$310,000	$330,000	$340,000	$300,000

Assume Company B makes cash payments of 35% of its purchases in the month of the purchase and pays the remaining 65% the following month.

(QUESTION 2) Use the above information, to consutruct a cash budget for Company B for January through April. Company B began January with a cash balance of $65,000. (Include formulas used to solve problem).

Expert Solution

I have uploaded the solution showing formulas in excel. Please apply the formulas to arrive at the answer. Also I have shown the answer in the image separately.

jeff jeffy answered 1 year ago

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