Week 4 Assessment Package (Business Finance)

Name: Section:
General Instructions: Answer the following in a separate sheet of paper/s and attach it/them to this assessment package questionnaire.
Show your complete solutions and properly label your final answers.
Day 1: February 8, 2021
Case of IRING Unlimited: Read and analyze the case of IRING Unlimited (pdf) then answer the following requirement:
Prepare a master budget for the three-month period ending June 30. Include the following detailed budgets:
1. a. A sales budget, by month and in total. (10pts)
b. A schedule of expected cash collections from sales, by month and in total. (10pts)
c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total. (10pts)
d. A schedule of expected cash disbursements for merchandise purchases, by month and in total. (10pts)
2. A cash budget. Show the budget by month and in total. Determine any borrowing that would be needed to maintain the minimum cash
balance of P50,000. (10pts)
3. A budgeted income statement for the three-month period ending June 30. (10pts)
4. A budgeted balance sheet as of June 30. (10pts)

G12: Business Finance

THIS CURRICULUM PACKAGE IS A PROPERTY OF SOUTHERN CHRISTIAN COLLEGE, IT IS NOT FOR SALE NOR CAN BE REPRODUCED WITHOUT
THE WRITTEN PERMISSION OF THE INSTITUTION.
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