P 21- 23A Req. 1 CASH BEGINNING BALANCE cash inflows cash sales (0.60 x 84000) collections [0.50 x 0.

40 x $84,000) + $15,300 payment of march liabilites cash purchases purchases of equipment Operating expenses (0.40 x $33,000) $ 50,200.00 $ 50,400.00 $ 32,100.00 $ (8,600.00) $ (10,800.00) $ (18,600.00) $ (16,900.00) $ (13,200.00) $ 64,600.00

cash outflows

payments for April (credit) purchases (0.50 x $37,200)

Ending balance INVENTORY Beginning balance Add: Purchases ($10,000 + $37,200) Less: Cost of goods sold (0.45 x $84,000) Ending balance STOCKHOLDERS' EQUITY Beginning balance Add: Less: Ending balance Revenues Expenses $ (37,800.00) $ 22,000.00 $ 11,800.00 $ 48,000.00

$136,700 $84,000 (-71,400) $149,300

(continued) P 21-23A Box Printing of Baltimore Budgeted Balance Sheet 30-Apr-11 ASSETS Current assets: Cash Accounts receivable (0.50 x 30 x $90,000) Inventory Total current assets Plant assets: Equipment ($80,900 + 16,900) Accumulated depreciation ($12,900 + $600) $64,600 16,800 22,000 $103,400

$97,000 -13,500

84,300 187,700

LIABILITIES Current liabilities: Accounts payable (0.0 x $37,200) Accrued expenses payable (0.60 X $33,000) Total liabilities STOCKHOLDERS' EQUITY Stockholders' equity Total liabilities and owenrs' equity 149,300 $187,700 $18,600 19,800 $38,400

continued P 21-23A Req. 2 see p. 1393

(30-40 minutes)

Box Printing Budgeted Statement of Cash Flows For the Month Ended April 30, 2011 Cash flows from operating activities: Receipts: Collections from customers ($50,400 + $32,100) Total cash receipts Payments: Purchases ($8,600 + $10,800 + $18,600) Operating expenses Total cash payments Net cash inflow from operating activities Cash inflows from investing activities: Acquisition of equipment

$82,500 $82,500 -38,000 -13,200 -51,200 31,300

($16,900) -16,900

Cash flows from financing activities Net decrease in cash Cash balance, April 1, 2009 Cash balance, April 30, 2009

0 $14,400 50,200 $64,600

Requirement 3: The amount of cash available for equipment purchases in April before financing if the minimum desire ending cash balance is $21,000 (and disregarding the $16,900 initially budgeted for equipment purchases) is $60,500