文档介绍：该【亨格瑞管理会计英文第15版练习答案07 】是由【帅气的小哥哥】上传分享，文档一共【45】页，该文档可以免费在线阅读，需要了解更多关于【亨格瑞管理会计英文第15版练习答案07 】的内容，可以使用淘豆网的站内搜索功能，选择自己适合的文档，以下文字是截取该文章内的部分文字，如需要获得完整电子版，请下载此文档到您的设备，方便您编辑和打印。272Copyright?2024PearsonEducation,Inc.,-MENTALASSIGNMENTMATERIALCRITICALTHINKINGEXERCISESANDEXERCISESPROBLEMSCASES,EXCEL,COLLAB.&EXERCISESLO1:,B1LO2::,40LO4::,B124,2639LO6:,B1294043,45LO7:,B128,29,30,314043,45,46,48LO8:,B127,29,32,33,34,3536,37,3843,44,47,48LO9:Useaspreadsheettodevelopabudget(Appendix7).41,42273Copyright?2024PearsonEducation,Inc.,-A1(60-90min.)1. ExhibitIRAPIDBUYELECTRONICS,,20X8Sales $300,000Costofgoodssold(.62×$300,000) 186,000Grossprofit $114,000Operatingexpenses: Salaries,missions $60,000 Otherexpenses 12,000 Depreciation 1,500 Rent,taxesandotherfixedexpenses 33,000 106,500efromoperations. $7,500Interestexpense* 1,338e $6,162*?2024PearsonEducation,Inc.,,,20X8 June July August Beginningcashbalance $5,800 $5,600 $5,079 Minimumcashbalancedesired 5,000 5,000 5,000(a)Availablecashbalance $800 $600 $79 Cashreceipts&disbursements: Collectionsfromcustomers (scheduleb) $75,200 $121,400 $90,800 Paymentsformerchandise (scheduled) (86,800) (49,600) (49,600) Fixtures(purchasedinMay) (11,000) - - Paymentsforoperating expenses(schedulef) (44,600) (30,200) (30,200)(cashreceipts&disbursements $(67,200) $41,600 $11,000 Excess(deficiency)ofcashbefore financing(a+b) (66,400) 42,200 11,079 Financing: Borrowing,atbeginningofperiod $67,000 $- $- Repayment,atendofperiod - (41,000) (10,000) Interest,10%perannum - (1,121)* (217)*(c)Totalcashincrease(decrease) fromfinancing $67,000 $(42,121) $(10,217)(d)Endingcashbalance(beginning balance+b+c) $5,600 $5,079 $5,862*Seescheduleg275Copyright?2024PearsonEducation,Inc.,,,20X8 Assets LiabilitiesandOwners’Equity Cash(ExhibitII) $5,862 Accountspayable $37,200Accountsreceivable* 86,400 Notespayable 16,000**Merchandiseinventory 37,200 Totalcurrentliabilities $53,200Totalcurrentassets $129,462 Netfixedassets: Owners'equity: $33,600less $102, depreciationof$1,500 32,100 eof$6,162 108,362Totalassets $161,562 Totalequities $161,562 *Julysales,20%×90%×$80,000 $14,400 Augustsales,100%×90%×$80,000 72,000 Accountsreceivable $86,400 **Seescheduleg June July August TotalSchedulea:SalesBudget Creditsales(90%) $126,000 $72,000 $72,000 $270,000Cashsales(10%) 14,000 8,000 8,000 30,000Totalsales(toExhibitI) $140,000 $80,000 $80,000 $300,000 Scheduleb:CashCollections June July August Cashsales $14,000 $8,000 $8,000 ountsreceivablefrom: Aprilsales 10,800 - - Maysales 50,400 12,600 - Junesales - 100,800 25,200 Julysales - - 57,600 Totalcollections(toExhibitII) $75,200 $121,400 $90,800 Schedulec:PurchasesBudget May June July AugustDesiredpurchases:62%×nextmonth'ssales $86,800 $49,600 $49,600 $37,200Scheduled:DisbursementsforPurchases June July AugustLastmonth'spurchases(toExhibitII) $86,800 $49,600 $49,600276Copyright?2024PearsonEducation,Inc.,,August31,2024(62%×Septembersales-toExhibitIII) $37,200Costofgoodssold(toExhibitI) $86,800 $49,600 $49,600Schedulee:OperatingExpenseBudget June July August TotalSalaries,missions $28,000 $16,000 $16,000 $60,000OtherVariableexpenses 5,600 3,200 3,200 12,000Fixedexpenses 11,000 11,000 11,000 33,000Depreciation 500 500 500 1,500Totaloperatingexpenses $45,100 $30,700 $30,700 $106,500Schedulef:PaymentsforOperatingExpenses June July AugustVariableexpenses $33,600 $19,200 $19,200Fixedexpenses 11,000 11,000 11,000Totalpaymentsforoperatingexpenses $44,600 $30,200 $30,200Scheduleg:Interestcalculations June July AugustBeginningbalance $67,000 $67,558 $26,******@10% 558 563 217Endingbalancebeforerepayment $67,558 68,121 26,217Principalrepayment(fromstatementofreceiptsanddisbursements) (41,000) (10,000)Interestpayment (1,121) (217)Endingbalance $26,000 $16,0002. Thisisanexampleoftheclassicshort-term,self-,thereisalagbetweenthesaleandthecollectionofthecash,,?2024PearsonEducation,Inc.,-B1 (60-120min.)$. SeeExhibitsI,II,andIIIandsupportingschedulesa,b,c,. Thecashbudgetandbalancesheetclearlyshowthebenefitsofmovingtojust-in-timepurchasing(plishedaseasilyasthisexamplesuggests).However,panywouldbenobetteroffifitleftmuchofitscapitaltiedupincash--,ount--:SalesBudget January February MarchTotalsales(100%oncredit) $248,000 $280,000 $152,000 Scheduleb:CashCollections 60%ofcurrentmonth'ssales $148,800 $168,000 $91,20030%ofpreviousmonth'ssales 30,000 74,400 84,00010%ofsecondpreviousmonth'ssales 10,000 10,000 24,800Totalcollections $188,800 $252,400 $200,000 December January February MarchSchedulec:PurchasesBudget Desiredendinginventory $156,200 $24,000* $24,000 $24,000Costofgoodssold 50,000 124,000 140,000 76,000Totalneeded $206,200 $148,000 $164,000 $100,000Beginninginventory 64,000 156,200 32,200 24,000Purchases $142,200 $- $131,800 $76,000*ActualendingJanuary(andbeginningFebruary)inventorylevelis$32,200,asinventorylevelsaredrawndowntowarddesiredlevelof$24,:DisbursementsforPurchases 100%ofpreviousmonth'spurchases $142,200 $- $131,800ountspayable $76,000278Copyright?2024PearsonEducation,Inc.,,20X2 January February March Cashbalance,beginning $20,000 $20,400 $138,767 Minimumcashbalancedesired 20,000 20,000 20,000(a) Availablecashbalance 0 400 118,767Cashreceiptsanddisbursements: Collectionsfromcustomers (Scheduleb) 188,800 252,400 200,000 Paymentsformerchandise (Scheduled) (142,200) - (131,800) Rent (32,200) (1,000) (1,000) Wagesandsalaries (60,000) (60,000) (60,000) Miscellaneousexpenses (10,000) (10,000) (10,000) Dividends (6,000) - Purchaseoffixtures - - (12,000)(b) Netcashreceipts&disbursements $(61,600) $181,400 $(14,800) Excess(deficiency)ofcash beforefinancing(a+b) $(61,600) $181,800 $103,967 Financing: Borrowing,atbeginningofperiod $62,000 $- $- Repayment,atendofperiod - (62,000) Simpleinterest,10%monthly - (1,033) (c) Totalcashincrease(decrease) fromfinancing $62,000 $(63,033) $-(d) Cashbalance,end(beginning balance+c+b) $20,400 $138,767 $123,967279Copyright?2024PearsonEducation,Inc.,,20X2Sales(Schedulea) $680,000Costofgoodssold(Schedulec) 340,000Grossmargin $340,000Operatingexpenses: Rent* $67,000 Wagesandsalaries 180,000 Depreciation. 3,000 Insurance 1,500 Miscellaneous 30,000 281,500efromoperations $58,500Interestexpense 1,033e $57,467*(January-Marchsalesless$40,000)×.10plus3×$1,000280Copyright?2024PearsonEducation,Inc.,,20X2 Assets Currentassets: Cash(ExhibitI) $123,967 Accountsreceivable* 88,800 Merchandiseinventory(Schedulec) 24,000 Unexpiredinsurance 4,500 $241,267 :$50,000+$12,000-$3,000 59,000 Totalassets $300,267 LiabilitiesandStockholders'Equity Liabilities: Accountspayable(Scheduled) $76,000 Rentpayable. 64,000 Dividendspayable 6,000 $146,000 Stockholders'equity** 154,267 Totalliabilitiesandstockholders'equity. $300,267*Februarysales(.10×$280,000)plusMarchsales(.40×$152,000)=$88,800**Balance,December31,20X1 $102,800e 57,467Total $160,267Less:Dividendspaid 6,000Balance,March31,20X2 $154,2677-1281Copyright?2024PearsonEducation,Inc.,PublishingasPrenticeHall. Budgeting1)providesanopportunityformanagerstoreevaluateexistingactivitiesandevaluatepossiblenewactivities,2)?compelsmanagerstothinkaheadbyformalizingtheirresponsibilitiesforplanning,3)anization,and4)?-2 -3 Strategicplanningcoversnospecifictimeperiod,isquitegeneral,-rangeplanningusuallyhasa5-or10-,-4 Continuousbudgetsaddamonth(orquarter)inthefutureasthemonth(orquarter),(orquarter)isadded,,paresubsequentresultstotheoriginalbudget(afixedtarget)-5 pany,-6 Lower--,lower-pensatefortheadjustmentthatwillbemadebyupper-levelmanagers,andupper--7 Amanagermaymakeshort-pany’sbestlong-runinterests,suchasofferingcustomersexcessivelyfavorablecredittermsorcuttingdiscretionaryexpendituressuchasR&Dandadvertising,,-8 First,bymovingthisyear'ssalesintonextyearormovingnextyear'sexpensesintothisyear,themanagerensuresahigherlevelofreportedprofit(andprobablyahigherbonus),bydecreasingthisyear'e,themanageravoidsratchetingupofperformanceexpectationsinsettingthebonustargetforthenextyear.