Question

Deitz Corporation is projecting a cash balance of $36,900 in its December 31, 2019, balance sheet. Deitz’s schedule of expected collections from customers for the first quarter of 2020 shows total collections of $227,550. The schedule of expected payments for direct materials for the first quarter of 2020 shows total payments of $52,890. Other information gathered for the first quarter of 2020 is sale of equipment $3,690; direct labor $86,100, manufacturing overhead $43,050, selling and administrative expenses $55,350; and purchase of securities $17,220. Deitz wants to maintain a balance of at least $30,750 cash at the end of each quarter.

Prepare a cash budget for the first quarter.

DEITZ CORPORATION Cash Budget Choose the accounting period                                                          For the Quarter Ended March 31, 2020March 31, 2020For the Month Ended March 31, 2020
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		Enter a total amount for section one
		Enter a total amount for the first part
		Enter a dollar amount
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		Enter a total amount for section two
		Enter a total amount for the second part
		Enter a dollar amount
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		$Enter a total amount for the cash budget

Answer 1

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