Question list
Additional Data
a Capital expenditures include $ for new manufacturing equipment to be
purchased and paid in the first quarter.
b Cash receipts are of sales in the quarter of the sale and in the
quarter following the sale.
c Direct materials purchases are paid in the quarter purchased and in
the next quarter.
d Direct labor, manufacturing overhead, and selling and administrative costs are
paid in the quarter incurred.
e Income tax expense for the first quarter is projected at $ and is paid in
the quarter incurred.
f Haney Company expects to have adequate cash funds and does not anticipate
borrowing in the first quarter.
g The December balance in Cash is $ in Accounts Receivable
is $ and in Accounts Payable is $
Requirements
Prepare Haney Company's schedule of cash receipts from customers and
schedule of cash payments for the first quarter of
Prepare Haney Company's cash budget for the first quarter of
Budget Information
