Cash Management And Budgeting
The new owner of Bob’s Boats, Bob, just purchased the business and discovered that the prior owner did not have a plan for managing the current assets of the company. Bob has decided that the place to start is with a cash budget, using the template he used in his prior position.
Click here to download the Excel template for this assignment.
Bob has requested that you to complete the cash budget given the data that he has already retrieved from the company’s records and from his own analysis.
Table-1:
| Sales Forecast for the next 9 Months | ||
| Month | Sales | |
| January | $ 162,000.00 | |
| February | $ 168,000.00 | |
| March | $ 324,000.00 | |
| April | $ 485,000.00 | |
| May | $ 648,000.00 | |
| June | $ 325,000.00 | |
| July | $ 325,000.00 | |
| August | $ 80,000.00 | |
| September | $ 162,000.00 | |
Collections on receivables have historically been collected as follows and this pattern is expected to continue:
- 12% in the Month of Sale
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