ACCT 505 Measuring Performance - Course Project A Prepare a master budget for the three-month period (Devry)

ACCT 505 Measuring Performance - Course Project A Prepare a master budget for the three-month period (Devry)

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Prepare a master budget for the three-month period ending June 30. Include the following detailed budgets:

· 1.oa. A sales budget, by month and in total.

ob. A schedule of expected cash collections from sales, by month and in total.

oc. A merchandise purchases budget in units and in dollars. Show the budget by month and in total.

od. A schedule of expected cash disbursements for merchandise purchases, by month and in total.

· 2. A cash budget. Show the budget by month and in total. Determine any borrowing that would be needed to maintain the minimum cash balance of $50,000.

· 3. A budgeted income statement for the three-month period ending June 30. Use the contribution approach.

· 4. A budgeted balance sheet as of June 30.