1. Prepare a monthly cash budget and supporting schedules for May, June, and July. Input all amounts as positive values except overall cash decrease and deficiency which should be indicated with a minus sign. Sonoma Housewares Inc. Cash Budget For the Three Months Ending July 31 May June July Estimated cash receipts from: Cash sales Collection of 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 or (decrease) Cash balance at beginning of month Cash balance at end of month Minimum cash balance Excess (deficiency) 2. The budget indicates that the minimum cash balance be maintained in July. This situation can be corrected by and/or by the of the marketable securities, if they are held for such purposes. A'
1. Prepare a monthly cash budget and supporting schedules for May, June, and July. Input all amounts as positive values except overall cash decrease and deficiency which should be indicated with a minus sign. Sonoma Housewares Inc. Cash Budget For the Three Months Ending July 31 May June July Estimated cash receipts from: Cash sales Collection of 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 or (decrease) Cash balance at beginning of month Cash balance at end of month Minimum cash balance Excess (deficiency) 2. The budget indicates that the minimum cash balance be maintained in July. This situation can be corrected by and/or by the of the marketable securities, if they are held for such purposes. A'
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:1. Prepare a monthly cash budget and supporting schedules for May, June, and July. Input all amounts as positive values except overall cash decrease and deficiency which should be indicated with a minus sign.
Sonoma Housewares Inc.
Cash Budget
For the Three Months Ending July 31
May
June
July
Estimated cash receipts from:
Cash sales
Collection of 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 or (decrease)
Cash balance at beginning of month
Cash balance at end of month
Minimum cash balance
Excess (deficiency)
2. The budget indicates that the minimum cash balance
be maintained in July. This situation can be corrected by
and/or by the
of the marketable securities, if they are held for such purposes. A'
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