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S&P Enterprises has provided data from the first three months of the year. The Controller has asked you to prepare the Cash Budget and the related Schedules for Expected cash collections and Payments to suppliers. Use the information included in the Excel Simulation and the Excel functions described below to complete the task, . Cell Reference: Allows you to refer to data from another cell in the worksheet. From the Excel Simulation below, if in a blank cell on the Budget Data tab, "-35" was entered the formula would output the result from cell B5, or 1,600 in this example, Multi-Tab Cell Reference: Allows you to refer to data from another cell in a separate tab in the worksheet. When using the multi-tab cell reference, type the equal sign first, then click on the other tab and then click on the cell you want to reference. The syntax of a multi-tab cell reference looks different than a normal cell reference, since it includes the tab name surrounded by apostrophes and also an exclamation point before the cell location. From the Excel Simulation below, if in a blank cell on the Schedules and Cash Budget tab 'Budget Data'C7 was entered the formula would output the result from cell C7 in the Budget Data tab, or 33.750 in this example, Basic Math functions: Allows you to use the basic math symbols to perform mathematical functions. You can use the following keys: + (plus sign to add) - (minus sign to subtract) (asterisk sign to multiply), and / (forward slash to divide). From the Excel Simulation below.itin a blank cell on the Budget Data tab, -815-16" was entered the formula would add the values from those cells and output the result, or 34,000 in this example, if using the other math symbols the result would output an appropriate answer for its function. SUM function: Allows you to refer to multiple cells and adds all the values. You can add individual cell references or ranges to utilize this function. From the Excel Simulation below. If in a blank cellSUMB10,811,812was entered the formula would output the result of adding those three separate cells, or 97% in this example. Similarly, if in a blank cell SUM810:B12)" was entered the formula would output the some result of adding those cells, except they are expressed as a range in the formule, and the result would be 97% in this example, Q ? X Cash Budget with Supporting Cash Collections and Disbursements Schedules - Excel INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW FILE HOME Sign In B D E $ 1,600 $ 3,750 $ 5,100 25,000 30,000 40,000 $ 26,600 $33.750 S 45.100 4 Actual January and February and expected March sales: 5 Cash sales 6 Sales on account 7 Total Sales 8 9 Accounts Receivable Collections: 10 Month of sale 11 Month following sale 12 Second month following sale 13 Uncollectible 15% 60% 22% 3% 14 $10,500 $23,500 60% 40% 15 Accounts payable for inventory purchases, March 1 balance 16 Budgeted inventory purchases in March 17 Inventory payments: 18 Month of purchase 19 Month following purchase 20 21 Total budgeted selling & administrative expenses in March 22 Budgeted selling & administrative depreciation in March 23 24 Other budgeted cash disbursements in March 25 Equipment purchases $12,500 $3,200 $14,000 21 Total budgeted selling & administrative expenses in March 22 Budgeted selling & administrative depreciation in March $12,500 $3,200 23 24 Other budgeted cash disbursements in March 25 Equipment purchases Dividends to be paid 26 27 $14,000 $2,000 34 28 Minimum cash balance to be maintained $10,000 29 March 1 cash balance $11,500 30 March 1 outstanding borrowings $0 31 March 1 interest due $0 32 33 The company has a line of credit available to bolster the cash balance as needed. 35 When preparing budgets, the company maintains their data on a separate sheet from the actual budget and schedules. 37 Click the Schedules and Cash Budget tab to prepare the following: 38 1. Schedule of expected cash collections for March. 2. Schedule of expected cash disbursements for inventory purchases for March. 3. Cash budget for March. Indicate in the financing section any borrowing that will be needed in March. Assume that any interest will not be paid until the following month. 36 39 40 41 42 Budget Data Schedules and Cash Budget B D 4 January sales 5 February sales March sales 7 Total cash collections 6 8 14 15 16 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance 11 March purchases 12 Total cash payments 13 S&P Enterprises Cash Budget For the Month of March 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available before current financing 22 Less disbursements Payments to suppliers 24 Selling and administrative expenses Equipment purchases 23 25 25 navidando mid B C D m 1 Expected cash collections: 2 March cash collections 3 March collections on account: January sales February sales March sales 7 Total cash collections 4 5 6 8 9 Payments to suppliers: 10 Accounts payable for inventory purchases, beginning balance 11 March purchases 12 Total cash payments 13 14 S&P Enterprises 15 Cash Budget 16 For the Month of March 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available before current financing 22 Less disbursements: 72 Saved Help B D 14 E 15 S&P Enterprises Cash Budget For the Month of March 16 17 18 Cash balance, March 1 19 Add cash receipts: 20 Collections from customers 21 Total cash available before current financing 22 Less disbursements: 23 Payments to suppliers 24 Selling and administrative expenses 25 Equipment purchases 26 Dividends paid 27 Total disbursements 28 Excess (deficiency) of cash available over disbursements 29 Financing 30 Borrowings 31 Repayments 32 Interest 33 Total financing 34 Cash balance, March 31 35 36

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