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Rickos Rickos
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7 years ago
The cash budget for Parker Process Meats, Inc. for the fourth quarter of 2014 is given below:

Parker Process Meats, Inc.
Cash Budget for the Three Months Ending December 31, 2014
Cash receipts   Oct.    Nov.    Dec.
Total collections    $31,050    $4,050    $49,950
Cash disbursements:
Purchases    44,550   48,600   52,650
Wages and salaries    7,425   7,425   7,425
Other expenses    2,025   1,350   675
Taxes       17,415
Total disbursements    $54,000   $57,375   $78,165

The expected sales for the period are as follows:
Oct.: $86,400 Nov.: $91,800 Dec.: $83,700
The total depreciation expense for the period will be $8,775. An interest payment on outstanding debt of $15,000 will be made in December. Using the information given, construct a pro forma income statement for the final quarter of 2014 for Parker.
Textbook 
Financial Management: Principles and Applications

Financial Management: Principles and Applications


Edition: 13th
Authors:
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LutionalLutional
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Rickos Author
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7 years ago
You saved my grade for me. I can't thank you enough.
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