ACCT 505 Week 5 Course Project A

ACCT 505 Week 5 Course Project A

1) Prepare a master budget for the three-month period ending June 30. Include the following detailed budgets:

a. A sales budget, by month and in total.

b. A schedule of expected cash collections from sales, by month and in total.

c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total.

d. 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.