Prepare a master budget for the three-month period ending June 30. Include the following detailed budgets:
· 1. oa. A sales budget, by month and in total.
ob. A schedule of expected cash collections from sales, by month and in total.
oc. A merchandise purchases budget in units and in dollars. Show the budget by month and in total.
od. A schedule of expected cash disbursements for merchandise purchases, by month and in total.
· 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 $50,000.
· 3. A budgeted income statement for the three-month period ending June 30. Use the contribution approach.
· 4. A budgeted balance sheet as of June 30.
· 1. oa. A sales budget, by month and in total.
ob. A schedule of expected cash collections from sales, by month and in total.
oc. A merchandise purchases budget in units and in dollars. Show the budget by month and in total.
od. A schedule of expected cash disbursements for merchandise purchases, by month and in total.
· 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 $50,000.
· 3. A budgeted income statement for the three-month period ending June 30. Use the contribution approach.
· 4. A budgeted balance sheet as of June 30.
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