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StormLrd StormLrd
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7 years ago
Pup Collar Corporation is in the process of preparing its cash budget for 2014. The beginning Cash balance is estimated to be $40,700. Sales on account during 2014 are estimated to be $500,000. Cash sales during 2014 are estimated to be $225,000. In July 2014, equipment will be purchased for cash; the cost of the equipment is estimated to be $145,000. Purchases of inventory on account during 2014 are estimated to be $265,000. Total operating expenses for 2014 are estimated to be $300,000. Ten percent of this amount represents Amortization Expense. All cash operating expenses are paid as incurred. The January 1, 2014, balance in Accounts Receivable is estimated to be $15,000; the January 1, 2014, balance in Accounts Payable is estimated to be $12,000. Accounts Receivable on December 31, 2014, is estimated to be 60% of the January 1, 2014, balance. Accounts Payable on December 31, 2014, is estimated to be 75% of the January 1, 2014, balance.

Prepare a cash budget for Pup Collar Corporation for 2014.
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
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AlexmosutheAlexmosuthe
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7 years ago
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StormLrd Author
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7 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Starfiew
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Yesterday
Thanks
asd454512
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2 hours ago
Good timing, thanks!
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