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# Different types of budgets

Fill in the missing amounts in the following schedule.

April May June
1. Sales * \$80,000 \$60,000 \$________
Cash Receipts
From cash sales \$______ \$______ \$45,000
From sales on account** \$______ \$34,000 \$______

Total Cash receipts \$______ \$______ \$______

2. Accounts Payable, 12/31/x0 300,000 euros
Purchase of goods & services on account during 20x1 1,200,000
Payments of accounts payable during 20x1 _________
Accounts Payable, 12/31/x1 400,000
3. Accounts receivable 12/31/x0 340,000 yen
Sales on account during 20x1 900,000
Collections of accounts receivables during 20x1 780,000
Accounts Receivables 12/31/x1 _________
4. Accumulated depreciation 12/31/x0 \$810,000
Depreciation expense during 20x1 150,000
Accumulated depreciation 12/31/x1 _________
5. Retained earnings 12,31,x0 \$2,050,000
Net income 400,000
Dividends paid in 20x1 0
Retained earnings 12/31/x1 __________

* Half of each months sales are on account. March sales amounted to \$60,000.
** 60% of credit sales is collected in the month of sale; 40% is collected in the following month.

#### Solution Summary

The different types of budgets are analyzed for the months of April, May and June.

\$2.19