管理会计第七章答案——Answers for Chp 7
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Q1：(7-A1 )
1. Exhibit I
RAPIDBUY ELECTRONICS, INC.
Mall of America Store
Budgeted Income Statement
For the Three Months Ending August 31, 20X8
Sales $300,000
Cost of goods sold (.62 × $300,000)
Gross profit $114,000
186,000 Operating expenses:
Salaries, wages, commissions $60,000
Other expenses 12,000
Depreciation 1,500
Rent, taxes and other fixed expenses 33,000
Income from operations. $ 7,500
106,500
Interest expense*
Net income $ 6,162
1,338
* See schedule g for calculation of interest.
Exhibit II
RAPIDBUY ELECTRONICS, INC.
Mall of America Store
Cash Budget
For the Three Months Ending August 31, 20X8
June July Beginning cash balance $ 5,800 $ 5,600 $ 5,079
August
Minimum cash balance desired 5,000 5,000 (a) Available cash balance 5,000
$ 800 $ 600 $ 79 Cash receipts & disbursements:
Collections from customers
(schedule b) $ 75,200 $121,400 $ 90,800 Payments for merchandise
(schedule d) (86,800) (49,600) (49,600) Fixtures (purchased in May) (11,000) - - Payments for operating
expenses (schedule f) (44,600) (30,200)
(b) Net cash receipts & disbursements $(67,200) $ 41,600 $ 11,000
(30,200) Excess (deficiency) of cash before
financing (a + b) (66,400) 42,200
Financing:
11,079
Borrowing, at beginning of period $ 67,000$ - $ - Repayment, at end of period - (41,000) (10,000)
)* Interest, 10% per annum - (1,121)* (217 (c) Total cash increase (decrease)
from financing $ 67,000 $(42,121) $(10,217
) (d) Ending cash balance (beginning
balance + b + c) $ 5,600 $ 5,079 $ 5,862 * See schedule g
Exhibit III
RAPIDBUY ELECTRONICS, INC.
Mall of America Store
Budgeted Balance Sheet
August 31, 20X8
Assets Liabilities and Owners’ Equity Cash (Exhibit II) $ 5,862 Accounts payable $ 37,200
Accounts receivable* 86,400 Notes payable 16,000 Merchandise inventory **
37,200
Total current assets $129,462
Total current liabilities $ 53,200 Net fixed assets: Owners' equity:
$33,600 less $102,200 plus net
depreciation of $1,500 32,100 income of $6,162
Total assets $161,562 Total equities $161,562
108,362
*July sales, 20% × 90% × $80,000 $ 14,400
August sales, 100% × 90% × $80,000
Accounts receivable $86,400
72,000
** See schedule g
June July August Total Schedule a: Sales Budget
Credit sales (90%) $126,000 $72,000 $72,000 $270,000
Cash sales (10%) 14,000 8,000 8,000
Total sales (to Exhibit I) $140,000 $80,000 $80,000 $300,000
30,000
Schedule b: Cash Collections
June July August
Cash sales $ 14,000 $ 8,000 $ 8,000
On accounts receivable from:
April sales 10,800 - -
May sales 50,400 12,600 -
June sales - 100,800 25,200
July sales - - 57,600
Total collections (to Exhibit II) $75,200 $121,400 $90,800
Schedule c: Purchases Budget May June July
Desired purchases:
August
62% × next month's sales $86,800 $49,600 $49,600 $37,200 Schedule d: Disbursements for PurchasesJune July
Last month's purchases (to Exhibit II) $86,800 $49,600 $49,600
August