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Victoria Kite

In: Business and Management

Submitted By Queen41
Words 306
Pages 2
Victoria Kite

In: Business and Management
Victoria Kite

Victoria Kite Company’s
Master Budget

Schedules

Schedule A: Sales Budget November December January February March
Recent & Forecasted Sales 25,000 25,000 62,000 75,000 38,000

Schedule B: Cash Collections January February March
60% of current Month 37,200 45,000 22,800
30% of previous Month 7,500 18,600 22,500
10% of 2 months prior 2,500 2,500 6,200
Totals 47,200 66,100 51,500

Schedule C: Purchases December January February March
Desired ending inventory 39,050 6,000 6,000 6,000
COGS 12,500 31,000 37,500 19,000
Total needed 51,550 37,000 43,500 25,000
Less beginning inventory 16,000 39,050 8,050 6,000
Purchases 35,550 - 35,450 19,000

Schedule D: Disbursements January February March
100% of last month’s Purchases 35,550 0 35,450
March 31st acct. payable 19,000

Cash Budget

January February March
Beginning Cash Balance 5,000 5,100 37,692
Minimum cash balance desired 5,000 5,000 5,000
Total Cash available - 100 32,692

Cash Collections 47,200 66,100 51,500
Cash disbursed for operations 35,550 - 35,450
Rent 8,050 250 250
Wages & Salaries 15,000 15,000 15,000
Miscellaneous 2,500 2,500 2,500
Fixture 3,000
Dividends 1,500
Net Cash Receipts and disbursements (15,400) 48,350 (4,700) Cash deficiency or Excess (15,400) 48,450 27,992

Financing
Borrowing 15,500

Repayment (15,500)
Interest 10% per annum. (258)

Total Cash from Financing 15,500 (15,758) -
Ending Cash Balance 5,100 37,692 32,992

Income Statement
January – March

Sales 175,000
Cost of Goods Sold 87,500
Gross Margin 87,500

Operating…...

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