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1.
June July August
Estimated cash receipts from:
Cash sales
Collections from accounts receivable
Total cash receipts
Estimated cash payments for:
Manufacturing costs
Selling and administrative expenses
Capital expenditures
Other purposes:
Income tax
Dividends
Total cash payments
Cash increase (decrease)
Cash balance at beginning of month
Cash balance at end of month
Minimum cash balance
Excess (deficiency)
Supporting calculations:
Collections of accounts receivable:
Sales on
Account Percentage
June July August
April sales
May sales:
Collected in June
Collected in July
June sales:
Collected in July
Collected in August
July sales
Payments for manufacturing costs:
Costs on
Account Percentage
Payments
Paid in June:
Incurred in May
Incurred in June
Total
Paid in July:
Incurred in June
Incurred in July
Total
Paid in August:
Incurred in July
Incurred in August
MERCURY SHOES INC.
Cash Budget
For the Three Months Ending June 30, 2016
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Instructions
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Problem 21(6)-4B
Name:
Section:
Score:
Total
2.
[Key essay answer here]
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1.
Sales
Cost of goods sold:
Direct materials
Direct labor
Factory overhead
Cost of goods sold
Gross profit
Operating expenses:
Selling expenses:
Sales salaries and commissions
Advertising
Miscellaneous selling expense
Total selling expenses
Administrative expenses:
Office and officers salaries
Supplies
Miscellaneous admin. expenses
Total administrative expenses
Total operating expenses
Income before income tax
Income tax expense
Net income
Supporting calculations for budgeted income statement:
Factory overhead: Office and officers salaries:
Variable overhead Fixed portion
Depreciation Variable portion
Other Total
Total
Sales salaries and commissions: Supplies expense:
Fixed portion Fixed portion
Variable portion Variable portion
Total Total
Miscellaneous selling expenses: Miscellaneous administrative expenses:
Fixed portion Fixed portion
Variable portion Variable portion
Total Total
2.
Problem 21(6)-5A
Name:
Section:
Budgeted Balance Sheet
REGINA SOAP CO.
Budgeted Income Statement
For the Year Ending December 31, 2017
REGINA SOAP CO.
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Score:
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Instructions
Current assets:
Cash
Accounts receivable
Inventories:
Finished goods
Work in process
Materials
Prepaid expenses
Total current assets
Property, plant, and equipment:
Plant and equipment
Less accumulated depreciation
Total assets
Current liabilities:
Accounts payable
Common stock
Retained earnings
Total stockholders’ equity
Total liabilities and stockholders’ equity
Supporting calculations for budgeted balance sheet:
Cash balance:
Balance, January 1, 2017
Plus cash from operations:
Net income (from budgeted income statement)
Depreciation (add back noncash item)
Less planned nonoperating cash outflows:
Dividends to be paid in 2017
Plant and equipment to be acquired in 2017
Balance, December 31, 2017
Retained earnings balance:
Balance, January 1, 2017
Plus expected net income for 2017
Less dividends to be paid in 2017
Balance, December 31, 2017
For the Year Ending December 31, 2017
Assets
Stockholders’ Equity
Liabilities
An asterisk (*) will appear to the right of an incorrect entry.
1.
Sales
Cost of goods sold:
Direct materials
Direct labor
Factory overhead
Cost of goods sold
Gross profit
Operating expenses:
Selling expenses:
Sales salaries and commissions
Advertising
Miscellaneous selling expense
Total selling expenses
Administrative expenses:
Office and officers salaries
Supplies
Miscellaneous admin. expenses
Total administrative expenses
Total operating expenses
Income before income tax
Income tax expense
Net income
Supporting calculations for budgeted income statement:
Factory overhead: Office and officers salaries:
Variable overhead Fixed portion
Depreciation Variable portion
Other Total
Total
Sales salaries and commissions: Supplies expense:
Fixed portion Fixed portion
Variable portion Variable portion
Total Total
Miscellaneous selling expenses: Miscellaneous administrative expenses:
Fixed portion Fixed portion
Variable portion Variable portion
Total Total
2.
MESA PUBLISHING CO.
Budgeted Income Statement
For the Year Ending December 31, 2017
MESA PUBLISHING CO.
0%
Score:
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Instructions
Budgeted Balance Sheet
Problem 21(6)-5B
Name:
Section:
Current assets:
Cash
Accounts receivable
Inventories:
Finished goods
Work in process
Materials
Prepaid expenses
Total current assets
Property, plant, and equipment:
Plant and equipment
Less accumulated depreciation
Total assets
Current liabilities:
Accounts payable
Common stock
Retained earnings
Total stockholders’ equity
Total liabilities and stockholders’ equity
Supporting calculations for budgeted balance sheet:
Cash balance:
Balance, January 1, 2017
Plus cash from operations:
Net income (from budgeted income statement)
Depreciation (add back noncash item)
Less planned nonoperating cash outflows:
Dividends to be paid in 2017
Plant and equipment to be acquired in 2017
Balance, December 31, 2017
Retained earnings balance:
Balance, January 1, 2017
Plus expected net income for 2017
Less dividends to be paid in 2017
Balance, December 31, 2017
For the Year Ending December 31, 2017
Assets
Liabilities
Stockholders’ Equity