Balance Sheet – 03312017
DILS BROTHERS DEPARTMENT STORE
Balance Sheet
March 31, 2017
Assets Liabilities and Stockholders’ Equity
Cash 4,000 Accounts payable 31,000
Accounts receivable 31,000 Dividends payable 15,000
Inventory 36,000 Rent payable 3,000
Prepaid insurance 3,000 Stockholders’ equity 50,000
Fixtures 25,000
Total assets $ 99,000 Total liabilities and equity $ 99,000
MBA 6203 – Problem 9-39 &F
&A
Budget Inputs
January February March April May June July August
Revenue $ 70,000 $ 60,000 $ 50,000 $ 60,000 $ 70,000 $ 80,000 $ 100,000 $ 90,000
Dividends $ 15,000 Declared in 3rd month and paid during 1st month of following qtr
Operating Expenses Paid as incurred
Rent Paid in following month
Prepaid Insurance For 5 months
COGS 50% of sales
Ending inventory 120% of next month’s COGS
Purchases Paid in full during following month
Sales All on account
50% collected in month of sale
40% collected in following month
10% second month following sales
Interest 12% per year
Borrowing/Repayment In even $1,000 increments
Borrowing At beginning of month
Repayment At end of month
Minimum Cash balance $ 4,000
Monthly operating expenses
Wages and salaries $ 27,000
Depreciation $ 100
Utilities $ 1,500
Rent $ 3,000
Insurance $ 600
MBA 6203 – Problem 9-39 &F
&A
Purchases Budget
April May June 2nd Qtr
Beginning Inventory $ 36,000
Desired Ending Inventory
COGS
Purchases Budget
MBA 6203 – Problem 9-39 &F
&A
Cash Budget
Cash Sales All sales on account Minimum Cash
Annual Interest
Monthly Interest 0.0%
Credit Sales Current Month Next Month 2nd Month
Payment for Merchandise Purchases Current Month Next Month 2nd Month
April May June Total Qtr 2
Beginning Balance, Cash $0.00
Cash Receipts:
February Sales $0.00
March Sales $0.00
April Sales $0.00
May Sales $0.00
JuneSales $0.00
Total Cash Receipts $0.00 $0.00 $0.00 $0.00
Total Cash Available $0.00 $0.00 $0.00 $0.00
Cash Disbursements:
March Purchases $0.00
April Purchases $0.00
May Purchases $0.00
June Purchases $0.00
Dividends Paid
Wages and salaries $0.00
Utilities $0.00
Rent $0.00
Interest $0.00
Total Cash Disbursements $0.00 $0.00 $0.00 $0.00
Minimum Cash Balance $0.00 $0.00 $0.00 $0.00
Total cash needed $0.00 $0.00 $0.00 $0.00
Cash excess (deficit) $0.00 $0.00 $0.00 $0.00
Financing
Borrowing $0.00 $0.00 $0.00 $0.00
Repayments $0.00 $0.00 $0.00 $0.00
Total cash from financing $0.00 $0.00 $0.00 $0.00
Ending cash balance $0.00 $0.00 $0.00 $0.00
Line-of-Credit Balance $0.00 $0.00 $0.00 $0.00 $0.00
MBA 6203 – Problem 9-39 &F
&A
Income Statement
DILS BROTHERS DEPARTMENT STORE
Income Statement
For the period ending March 31, 2017
April May June 2nd Qtr
Sales
– COGS
= Gross Margin
Operating Expenses
Wages and salaries
Depreciation
Utilities
Rent
Total Operating Expenses
Net Operating Income
MBA 6203 – Problem 9-39 &F
&A
Balance Sheet – June 30, 2017
DILS BROTHERS DEPARTMENT STORE
Balance Sheet
As of June 30, 2017
Assets Liabilities and Stockholders’ Equity
Cash Accounts payable
Accounts receivable Dividends payable
Inventory Rent payable
Prepaid insurance Stockholders’ equity
Fixtures
Total assets Total liabilities and equity
DILS BROTHERS DEPARTMENT STORE
Statement of Retained Earnings
As of June 30, 2017
Beginning Balance, Retained Earnings
Plus: Net Income (Loss)
Less: Dividends
Ending Balance, Retained Earnings
MBA 6203 – Problem 9-39 &F
&A
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