PROJECT A - Case 9-30

Student Name:
SALES BUDGET:
April May June Quarter
Budgeted unit sales
Selling price per unit
Total Sales
SCHEDULE OF EXPECTED CASH COLLECTIONS:
April May June Quarter
February sales
March sales
April sales
May sales
June sales
Total Cash Collections
MERCHANDISE PURCHASES BUDGET:
April May June Quarter
Budgeted unit sales
Add desired ending inventory
Total needs
Less beginning inventory
Required purchases
Cost of purchases @ $4 per unit
BUDGETED CASH DISBURSEMENTS FOR MERCHANDISE PURCHASES:
April May June Quarter
Accounts payable
April purchases
May purchases
June purchases
Total cash payments
EARRINGS UNLIMITED
CASH BUDGET
FOR THE THREE MONTHS ENDING JUNE 30
April May June Quarter
Cash balance
Add collections from customers
Total cash available
Less Disbursements
Merchandise purchases
Advertising
Rent
Salaries
Commissions
Utilities
Equipment purchases
Dividends paid
Total Disbursements
Excess (deficiency) of receipts
over disbursements
Financing:
Borrowings
Repayments
Interest
Total financing
Cash balance, ending
EARRINGS UNLIMITED
BUDGETED INCOME STATEMENT
FOR THE THREE MONTHS ENDED JUNE 30
Sales -
Variable expenses:
Cost of goods sold -
Commissions - -
Contribution Margin -
Fixed expenses:
Advertising -
Rent -
Salaries -
Utilities -
Insurance -
Depreciation - -
Net operating income -
Interest expense -
Net income -
EARRINGS UNLIMITED
BUDGETED BALANCE SHEET
JUNE 30
Assets:
Cash
Accounts receivable (see below)
Inventory
Prepaid insurance
Property and equipment, net
Total assets
Liabilities and Stockholders' Equity
Accounts payable, purchases
Dividends payable
Capital stock
Retained earnings (see below)
Total liabilities and stockholders' equity
Accounts receivable at June 30:
May sales x ?%
June sales x ?%
Total
Retained earnings at June 30:
Balance, March 31
Add net income
Total
Less dividends declared
Balance, June 30