亨格瑞管理会计英文第15版练习答案07

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1、CHAPTER 7COVERAGE OF LEARNING OBJECTIVESLEARNING OBJECTIVEFUNDAMENTALASSIGNMENTMATERIALCRITICALTHINKINGEXERCISESANDEXERCISESPROBLEMSCASES,EXCEL, COLLAB. & INTERNET EXERCISESLO1: Explai n how budgets facilitate pla nning and coordi nati on.A1,B1LO2: An ticipate possible huma n relatio ns problems cau

2、sed by budgets.2540LO3: Explai n pote ntially dysf unctional incen tives in the budget process.2239, 40LO4: Explai n the difficulties of sales forecasti ng.234249LO5: Explain the major features and adva ntages of a master budget.A1,B124,2639LO6: Follow the prin cipal steps in prepari ng a master bud

3、get.A1,B1294043,45L07: Prepare the operat ing budget and the support ing schedules.A1,B128,29,30,314043,45,46,48LO8: Prepare the finan cial budget.A1,B127,29,32,33,34,3536,37,3843,44,47,48LO9: Use a spreadsheet to develop a budget (Appe ndix 7).41,42CHAPTER 7In troducti on to Budgets and Prepari ng

4、the Master Budget7-A1 (60-90 mi n.)1.Exhibit IRAPIDBUY ELECTRONICS, INC.Mall of America StoreBudgeted In come Stateme ntFor the Three Mon ths En di ng August 31,20X8Cost of goods sold (.62x $300,000)186,000Gross profit$114,000Operati ng expe nses:Salaries, wages, commissi ons$60,000Other expe nses12

5、,000Depreciati on1,500Rent, taxes and other fixed expe nses33,000106,500In come from operati ons.$7,500In terest expe nse*1,338Net in come$ 6,162Sales$300,000See schedule g for calculation of interest.Exhibit IIRAPIDBUY ELECTRONICS, INC.Mall of America StoreCash BudgetFor the Three Mon ths En di ng

6、August 31,20X8JuneJulyAugustBeg inning cash bala nee$ 5,800$5,600$ 5,079Minimum cash bala nee desired5,0005,0005,000(a) Available cash bala nee$ 800$ 600$79Cash receipts & disburseme nts:Collecti ons from customers(schedule b)$ 75,200$121,400$ 90,800Payme nts for mercha ndise(schedule d)(86,800)(49,

7、600)(49,600)Fixtures (purchased in May)(11,000)-Payme nts for operati ngexpe nses (schedule f)(44,600)(30,200)(30,200)(b) Net cash receipts & disburseme nts$(67,200)$ 41,600$ 11,000Excess (deficie ncy) of cash beforefinancing (a + b)(66,400)42,20011,079Financing:Borrow ing, at beg inning of period$

8、67,000$ -$ -Repayme nt, at end of period-(41,000)(10,000)In terest, 10% per annum-(1,121)*(217)*(c) Total cash in crease (decrease)from financing$ 67,000$(42,121)$(10,217)(d) Ending cash bala nee (begi nningbala nee + b + c)$ 5,600$ 5,079$ 5,862See schedule gExhibit IIIRAPIDBUY ELECTRONICS, INC.Mall

9、 of America StoreBudgeted Bala nee SheetAugust 31,20X8AssetsLiabilities and OwnersEquityCash (Exhibit II)$5,862Aeeo unts payable$ 37,200Aeeo unts receivable*86,400Notes payable16,000*Mereha ndise inven tory37,200Total eurre nt liabilities$ 53,200Total eurre nt assets$129,462Net fixed assets:Own ers

10、equity:$33,600 less$102,200 plus netdepreeiation of $1,50032,100in eome of $6,162108,362Total assets$161,562Total equities$161,562*July sales, 20%x 90% x$80,000$ 14,400August sales, 100%x 90%x $80,0002,000Aeeo unts reeeivable$86,400* See sehedule gJuneJulyAugustTotalSehedule a: Sales BudgetCredit sa

11、les (90%)$126,000$72,000$72,000$270,000Cash sales (10%)14,0008,0008,00030,000Total sales (to Exhibit I)$140,000$80,000$80,000$300,000Sehedule b: Cash Colleetio nsJuneJulyAugustCash sales$14,000$ 8,000$ 8,000Schedule c: Purchases BudgetMayJuneJulyAugustDesired purchases:62% x next months sales$86,800