The cash budget Assignment | College Homework Help

Prepare the cash budget using the following information: 20 points
Peanuts Plus Company has the following information for the month of June:
Cash Balance June 1, 2019   $16,000
June Sales   50,000
Paid to Suppliers   18,900
Manufacturing Overhead(includes $2,000 depreciation expense)   18,000
Direct Labor   9,400
Selling & Admin Expenses   7,500

Peanuts Plus pays wages in the month incurred. Selling and Admin costs include $1,000 in depreciation expense. Credit sales are collected 50% in the month of sale and 50% in the following month. Total Credit Sales in May were $20,000. Of the June Sales, $30,000 were paid in cash and the remaining on credit. In addition Peanuts expects to buy a piece of equipment for $7,600 during June. Supplies are purchased and paid for in the month of sale. Prepare the cash receipts, cash payments and cash budgets to reflect this information. ( Use the attached paper to prepare your budget.)

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