2023 Refer to Problem P22 47B Additional data for Beta Batting Company a Capital | Assignments Online
2023 Refer to Problem P22 47B Additional data for Beta Batting Company a Capital | Assignments Online
Assignments Online 2023 Business Finance
Refer to Problem P22- 47B. Additional data for Beta Batting Company:
a. Capital expenditures include $ 40,000 for new manufacturing equipment, to be purchased and paid in the first quarter.
b. Cash receipts are 75% of sales in the quarter of the sale and 25% in the quarter following the sale.
c. Direct materials purchases are paid 50% in the quarter purchased and 50% in the next quarter.
d. Direct labor, manufacturing overhead, and selling and administrative costs are paid in the quarter incurred.
e. Income tax expense for the first quarter is projected at $ 60,000 and is paid in the quarter incurred.
f. Beta expects to have adequate cash funds and does not anticipate borrowing in the first quarter.
P22- 47B
.:.
Requirements
1. Prepare Beta’s schedules for cash receipts from customers and cash payments for the first quarter of 2015.
2. Prepare Beta’s cash budget for the first quarter of 2015.
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