If anyone can help me with this problem I have been stuck on for hours. Thank yo

Question

If anyone can help me with this problem I have been stuck on for hours. Thank you!

Schedules of Expected Cash Collections and Disbursements, Income Statement, Balance Sheet LO8-2, LO8-4, LO8-9, LO8-10] [The following information applies to the questions displayed below.,] Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company's balance sheet as of June 30th is shown below: f June 30th is sho Beech Corporation Balance Sheet June 30 Assets $ 90,000 136,000 62,000 210,000 Cash Accou nts receivable Plant and equipment, net of depreciation Total assets 498,000 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings 71,100 327,000 99,900 Total liabilities and stockholders' equity 498,000

Explanation / Answer

Part 1)

The schedule of expected collections is given below:

___________

Part 2-a)

The merchandise purchases budget is given below:

___________

Part 2-b)

The schedule of expected cash disbursements for purchases is given below:

___________

Part 3)

The income statement for the quarter is provided below:

___________

Part 4)

The balance sheet as of 30 September is provided below:

Schedule of Expected Collections Month July August September Quarter From Accounts Receivable 136,000 136,000 From July Sales 73,500 (210,000*35%) 136,500 (210,000*65%) 210,000 From August Sales 80,500 (230,000*35%) 149,500 (230,000*65%) 230,000 From September Sales 77,000 (220,000*35%) 77,000 Total Cash Collections $209,500 $217,000 $226,500 $653,000

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