(Question and Answer): Sales for Blue Bill Corporation are projected as follows for the months of June through November:

Cash Budget

 

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Sales for Blue Bill Corporation are projected as follows for the months of June through November:

 

June     $200,000

July      200,000

August 200,000

September       300,000

October           500,000

November       200,000

 

Credit sales account for 70% of the monthy sales and are collected one month after the sale.

Other receipts for October are $50,000.

Variable disbursements are 60% of sales each month.

Fixed disbursements are $10,000 each month.

$80,000 should be included in August for taxes.

The company is obligated to make a $400,000 debt repayment in November.

Beginning cash in June is $50,000.

Desired ending cash each month is $10,000.

Complete the monthly cash budget for Blue Bill Corporation for June through November.
Blue Bill Corporation
Cash Budget(PRO-FORMA)
June July August September October November
Sales
Cash sales
Collections
Other Receipts
Total cash receipts
Variable disbursements
Fixed disbursements
Other disbursements
Total cash disbursements
Net change during the month
Beginning cash
Ending cash
Required cash
Excess cash to invest
Cash borrowed

Expert Answer

Blue Bill Corporation
Cash Budget(PRO-FORMA)
June July August September October November
Sales (Credit) 200000 140000 140000 140000 210000 350000
Cash sales (30% of total sales) 60000 60000 60000 90000 150000 60000
Collections from Credit Sales 140000 98000 98000 98000 147000
Other Receipts 50000
Total cash receipts 60000 200000 158000 188000 298000 207000
Variable disbursements (60% of total sales) 120000 84000 84000 84000 126000 210000
Fixed disbursements 10000 10000 10000 10000 10000 10000
Other disbursements 80000 400000
Total cash disbursements 130000 94000 174000 94000 136000 620000
Net change during the month -70000 106000 -16000 94000 162000 -413000
Beginning cash 50000 10000 116000 100000 194000 356000
Ending cash 10000 116000 100000 194000 356000 10000
Required cash 10000 10000 10000 10000 10000 10000
Excess cash to invest 106000 90000 184000 346000
Cash borrowed $30,000 67000

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