What i have so far i hope this helps 9. Comprehensive Cash Budget: Johnson Inc.

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What i have so far i hope this helps

9. Comprehensive Cash Budget: Johnson Inc. - Additional Information: -Due to sale of equipment in the previous quarter, the company has a $140,000 cash balance on June 30. Pays a $20,000 cash dividend in August. Purchases equipment costing S60,000 in July. Sells property in September for S100,000 cash (cash receipt). Maintains a $20,000 minimum cash balance. Any loans will be taken at the end of the month Principal repayments occur at the end of each quarter. Pays interest at 5 percent (annual rate) when a principal payment is made. Required: Prepare a comprehensive cash budget by month and in total for the quarter. Check Figure: Ending cash balance for the quarter S103,998

Explanation / Answer

Comprehensive cash Budget July August september Total Beginning cash balance 140000 28761.5 20456 140000 cash receipts $          128,000 $         288,000 $         331,000 $         747,000 Cash available 268000 316761.5 351456 887000 Cash payments Materila budgets 70155 109472 102952.5 282579.5 labor budget 34125 82250 51187.5 167562.5 manufacturing overhead budget 29625 50250 36937.5 116812.5 S&A expense 45333.5 45333.5 45333 136000 Equipment purchases 60000 60000 Dividends 20000 20000 Total cash payments 239238.5 307305.5 236410.5 782954.5 balance before financing 28761.5 9456 115045.5 104045.5 borrowing 11000 11000 principal repayment 11000 11000 interest 45.83333333 45.83333333 Ending cash balance 28761.5 20456 103999.6667 103999.6667

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