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Master Budget – Saskatoon Kite Company

Saskatoon Kite Company, a small merchandising firm that sells kites wants a master budget for the next three months, beginning January 1, 20XX.

Itdesires an ending minimum cash balance of $5,000 each month. Sales are forecasted to be 7,750 units in January, 9,375 units in February, and 4,750 units in March at an average wholesale selling price of$8 per kite

Ending inventory is 12% of the following month’s expected sales.
 
Merchandise costs an average of $4 per kite.

Purchases during any given month are paid in full during thefollowing month.

All sales are on credit, payable within 30 days, but experience has shown that 60% of current sales are collected in the current month, 30% in the next month, and 10% in the monththereafter. Bad debts are negligible.
 
Monthly operating expenses are as follows:
Wages and salaries $12,000
Depreciation $250
Miscellaneous $2,500
Rent $2,000
 
Cash dividends of $1,500 areto be paid in January. The company plans to buy some new fixtures for $3,000 cash in March
 
Cash Balance as of December 31, 20X5 is $5,000

From the beginning Balance Sheet:
Retained Earnings$61,215
Capital Stock $9,000




 
Prepare a master budget including a Sales Budget, Purchases Budget, Expense Budget , Budgeted Income Statement, Cash Receipts and Payments Budgets, CashBudget and Budgeted Balance Sheet for the months January through March 20XX.
 
Budget Master - Saskatoon Kite Empresa

Saskatoon Kite Company, una empresa de merchandising pequeño que vende cometasquiere un presupuesto maestro para los próximos tres meses, a partir del 1 de enero de 20XX.

Se desea un saldo mínimo de caja final de $ 5.000 cada mes. Las ventas se prevé que 7.750 unidades enenero, 9.375 unidades en febrero, y 4.750 unidades en marzo a un precio medio de venta al por mayor de $ 8 por cometa

Inventario final es el 12% de las ventas esperadas del mes siguiente.

Mercancía...