Professional Documents
Culture Documents
Sales Budget:
20x0
20x1
December
Total sales
Cash sales*
400,000
$
Sales on account
January
440,000
100,000 $
110,000
300,000
330,000
110,000 $
February
121,000
33,000
36,300
270,000
297,000
413,000 $
454,300
3. Purchases budget:
20x0
December
Budgeted CGS
20x1
January
280,000
308,000
154,000
169,400
434,000
477,400
140,000
154,000
Purchases
294,000
323,400
February
Inventory purchases:
Cash payments for purchases during
the current month
129,360 $
142,296
176,400
194,040
305,760 $
336,336
Other expenses
Sales salaries
Advertising and promotion
21,000.0
###
16,000
###
###
Administrative salaries
21,000
Interest on bonds
15,000
Property taxes
Sales commission
$
$
4,400
5,400
4,840
77,400 $
68,240
383,160 $
404,576
February
413,000 $
454,300
383,160
404,576
29,840
49,724
15,000
100,000
Purchase of equipment
125,000
25,000
10,000
Cash available
Less: Cost of investment in equipment
35,000
15,000
25,000
125,000
100,000
7. Income Statement
Revenue
1,456,400
COGS
1,019,480
Gross Margin
436,920
Expenses:
Sales salaries
63,000
48,000
Administrative salaries
63,000
Interest on bonds
7,500
Property taxes
2,700
Sales commissions
14,564
2,500
Depreciation
75,000
Total expenses:
276,264
Net Income:
160,656
107,500
Net Income
160,656
Dividends
50,000
218,156
8. Retained Earnings
9. Balance Sheet
Cash
25,954
Accounts receivable
359,370
Marketable Securities
Inventory
676,000
Total Assets
1,247,664
Accounts payable
223,608
5,000
900
300,000
Common Stock
500,000
Retained Earnings
218,156
1,247,664
186,340
20x1
February
March
1st
Quarter
484,000
$
532,400
121,000 $
133,100 $
363,000
399,300
1,456,400
364,100
1,092,300
20x1
March
1st
Quarter
133,100 $
364,100
39,930
109,230
326,700
893,700
499,730 $
1,367,030
20x1
February
March
1st
Quarter
338,800
372,680
1,019,480
186,340
186,340
186,340
525,140
559,020
1,205,820
169,400
186,340
154,000
355,740
372,680
1,051,820
20x1
March
1st
Quarter
149,072 $
420,728
213,444
583,884
362,516 $
1,004,612
21,000.0
63,000.0
16,000
48,000.0
21,000
63,000.0
$
$
15,000.0
5,400.0
5,324
14,564.0
63,324
208,964.0
425,840
1,213,576.0
20x1
March
Entire
Quarter
499,730 $
1,367,030
425,840 $
1,213,576
73,890 $
153,454
15,000
100,000
125,000
100,000 $
100,000
2,500 $
2,500
50,000 $
50,000
(9,046)
35,000
25,954