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Pink Martini Co. is projecting the cash balance of $31,000 in its December 31, 2007, balance sheet. Pink Martini's schedule of expected collections from customers for the first quarter of 2008 shows total collections of $180,000. The schedule of expected payments for direct materials for first quarter of 2008 exhibits total payments of $41,000. Other information collected for the first quarter of 2008 is: sale of equipment $3,500; direct labor $70,000, manufacturing overhead $35,000, selling and administrative expenses $45,000; and purchase of securities $12,000. Pink Martini wishes for to maintain a balance of at least $25,000 cash at the end of each quarter.

Instructions:

Make a cash budget for the first quarter.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M919105

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