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Student Name:
david
SALES BUDGET:
April
Budgeted unit sales
Selling price per unit
Total Sales
65,000
####### $
May
100,000
50,000
1,000,000 $ 500,000
June
May
215,000
########
695,000
65,000
700,000
########
865,000
Quarter
26,000
320,000
650,000
900,000
100,000
########
May
20,000
100,000
June
12,000
50,000
Quarter
72,000
215,000
(20,000)
42,000
168,000
(86,000)
201,000
804,000
40,000
455,000
200,000
(40,000)
80,000
320,000
June
Quarter
Quarter
100,000
316,000
320,000
84,000
820,000
EARRINGS UNLIMITED
CASH BUDGET
FOR THE THREE MONTHS ENDING JUNE 30
April
May
June
74,000
50,000
50,000
Cash balance
436,000
695,000
865,000
Add collections from customers
Total cash available
510,000
745,000
915,000
Quarter
74,000
########
########
Interest on borrowings
5,300
5,300
Merchandise purchases
Advertising
Rent
Salaries
Commissions
Utilities
Equipment purchases
Dividends paid
Total Disbursements
258,000
200,000
18,000
106,000
26,000
7,000
318,000
200,000
18,000
106,000
40,000
7,000
16,000
244,000
200,000
18,000
106,000
20,000
7,000
40,000
15,000
630,000
705,000
640,000
#######
40,000
274,700
94,700
170,000
10,000
180,000
180,000
180,000
94,700
94,700
170,000
180,000
50,000
50,000
EARRINGS UNLIMITED
BUDGETED INCOME STATEMENT
FOR THE THREE MONTHS ENDED JUNE 30
########
Sales
Variable expenses:
Cost of goods sold
Commissions
Contribution Margin
Fixed expenses:
Advertising
Rent
Salaries
Utilities
Insurance
Depreciation
Net operating income
Interest expense
Net income
600,000
54,000
318,000
21,000
9,000
42,000
5,300
860,000
86,000
########
154,700
EARRINGS UNLIMITED
BUDGETED BALANCE SHEET
JUNE 30
Assets:
Cash
Accounts receivable (see below)
Inventory
Prepaid insurance
94,700
500,000
48,000
12,000
86,000
600,000
54,000
318,000
86,000
21,000
56,000
15,000
########
964,000
########
84,000
15,000
800,000
719,000
########