complete a master budget picanuy inc is a wholesale distributor of consume goods cur 503055 | Homework Solutions

complete a master budget picanuy inc is a wholesale distributor of consume goods/ current asset as of 12/31 account recievable=36k inventory=9,800 building and equipment net=110.885 account payable=32.550 capital stock=100k retain earning=30.135/the gross margin is 30 percent of sale another word cost of good is 70 percent of sale/sale datafor the month of December=60k jan=70k feb=80k march=85k april=55k/sale are 40 percent for cash and 60 percent credit/credit sale are collected in the month following sale.the account recievable in dec 31 are result of credit sale./each month end inventory purchase is paid in the mnth of purchase the other 3 quarter is paid the following month/the account payable in 12/31 are the result of dec purchase inventory/monthly expense are as follow commission 12k rent 1800 other expees exluding depreciation 8 percent of sale assume that these expense are paid monthly deperication is 2400 4 thequarter and include deprecation on new asset acqire during the qater/ equipment will be acquire 4 cash 3k in January and 8k for feb/ I need to complete a master budget I need to prepare the following by quarter a schedule of expected cash collection on sale a schedule of expected cash disbursement for merchandise purchase I need to prepare a cash budget can assit me jacdumb

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