Professional Documents
Culture Documents
c&d
Oct Nov Dec
g.
Cash Budget
Oct Nov Dec
Beginning cash balance $ - $ 31,940 $ 31,000
Add:cash receipts $ 180,000 $ 436,000 $ 523,200
Cash Avaialable $ 180,000 $ 467,940 $ 554,200
Less:payments
for inventory purchases $ 277,760 $ 348,992 $ 339,056
for selling & admn expense $ 37,700 $ 58,600 $ 63,720
Purchase of store fixtures $ 180,600
for Interest expense $ 6,960 $ 6,512
Fianancing activities
Borrows(repayments) $ 348,000 $ (22,388)
Ending cash balance $ 31,940 $ 31,000 $ 144,912
interest
nov: on 348000 * 2%=6960
dec:(348000-22388)*2%=6512
Cash flow statement
Cash flow form operating activities
cash payments for selling and administrative expenses $ 160,020
cash payments for interest expense $ 13,472
cash payment for inventory $ 965,808
cash receipts from customers $ 1,139,200
net cash flows from operating activities $ (100)
cash flows from investing activities
cash payments for store fixtures $ (180,600)
cash flow from financing activities
net increase in line of credit $ 325,612
net increase in cash $ 144,912
add:opening cash balance 0
closing cash balance $ 144,912
Income Satement
Sales $ 1,456,000
Less:COGS(sales*70%) $ 1,019,200
Gross Profit $ 436,800
Less:expenses
S&A expenses $ 204,060
62900+67700+73460
EBIT $ 232,740
Interest epxense $ 13,472
Net Profit $ 219,268
Haas COMPANY
Pro Forma Balance Sheet
31-Dec-19
Assets
Cash $ 144,912
Inventory $ 13,900
Accounts receivable $ 316,800
Store fixtures $ 180,600
Less: Accumulated depreciation $ (17,700)
Book value of fixtures $ 162,900
Total assets $ 638,512
Liabilities
Accounts payable(20%*336460) $ 67,292
Utilities payable $ 3,300
Sales commissions payable $ 23,040
Line of credit liability(302000-40854) $ 325,612
$ 419,244
Equity
Retained earnings $ 219,268
$ 219,268
Total liabilities and equity $ 638,512