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Cash Budgeting Question

Cash Budgeting – Helen Bowers, owner of Helen’s Fashion Designs, is planning to request a line of credit from her bank. She has estimated the following sales forecasts for the firm for parts of 2006 and 2007:

May 2006 $180,000
June

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Kim

  1. I have no idea

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    Sue

  2. Helen Bowers, owner of Helen’s Fashion Designs, is planning to request a line of credit from her bank. he has estimated the following sales forecasts for the firm for parts of !""# and !"1"$%a& !""# '1(",""")une 1(",""")ul& *+","""ugust -","""eptember /!","""0ctober *+",""" o2ember *+","""December #",""")anuar& !"1" 1(","""3stimates regarding pa&ments obtained from the credit department are as follows$ collectedwithin the month of sale, 1"45 collected the month following the sale, /-45 collected thesecond month following the sale, 1-4. 6a&ments for labour and raw materials are made themonth after these ser2ices were pro2ided. Here are the estimated costs of labour plus rawmaterials$%a& !""# ' #",""")une #",""")ul& 1!+,"""ugust ((!,"""eptember *"+,"""0ctober !*,""" o2ember 1+!,"""December #","""7eneral and administrati2e salaries are appro8imatel& '!/,""" a month. 9ease pa&mentsunder long:term leases are '#,""" a month. Depreciation charges are '*+,""" a month.%iscellaneous e8penses are '!,/"" a month. ;ncome ta8 pa&ments of '+*,""" are due ineptember and December.  progress pa&ment of '1(",""" on a new design studio must be paid in 0ctober. <ash on hand on )ul& 1 will be '1*!,""", and a minimum cash balance of '#",""" should be maintained throughout the cash budget period.

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    Asel

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