tryintopassenioryear
11.11.2019 •
Business
Castor. inc., is preparing its master budget for the quarter ended june 30. budgeted sales and cash payments for merchandise for the next three months follow:
budgeted april may june
sales $32,000 $40,000 $24,000
cash payments for merchandise 20,200 16,800 17,200
sales are 50% cash and 50% on credit.
all credit sales are collected in the month following the sale.
the march 30 balance sheet includes balances of s12.000 in cash. $12,000 in accounts receivable, $11,000 in accounts payable, and a $2,000 balance in loans payable.
a minimum cash balance of $12,000 is required.
loans are obtained at the end of any month when a cash shortage occurs.
interest is 1% per month based on the beginning of the month loan balance and is paid at each month-end.
if an excess balance of cash exists, loans are repaid at the end of the month.
operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), shipping (2% of sales), office salaries ($5,000 per month), and rent ($3,000 per month).
prepare a cash budget for each of the months of april, may, and june. (round your final answers to the nearest whole dollar. negative balance and loan repayment amount should be indicated with minus sign.)
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Ответ:
I think you are asking what type of business this is. This is referred to as a "partnership". This is an ownership structure in which a single business is owned by two or more people. All individuals involved in a partnership are expected to contribute money, property, labor, or skill and share risks associated with operating a business. I hope this answers what you are looking for. :)