Merchandising Company Specializing in Upscale Frames
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Merchandising Company Specializing in Upscale Frames
This is a merchandising company specializing in upscale frames. The company wants to open more stores and has an interested investor who will purchase stock from the company to enable them to expand.
The potential investors have requested a detailed budget for the quarter ending June 30 (see Instructions for the 8 budgets). You have been assigned to the planning and budget team whose responsibility it is to prepare the Company Budget to provide to the Investor.
Budgeted Balance Sheet as of March 31, 20XX
Cash $ 23,000
Accounts Receivable 10,500
Inventory 12,000
Prepaid Insurance 1,800
Fixed Assets, net of depreciation 65,000
Accounts Payable, purchases 12,500
Payroll Payable 1,500
Dividends Payable 1,875
Common Stock, no par 60,000
Retained Earnings 36,425
The following has been compiled from historic financial reports:
April sales are budgeted to be $30,000 and are budgeted to increase 5% over the last month’s sales each month.
Collections are 80% in the month of sale and 20% in the month following the sale.
Picture This wants to maintain inventory of $9,000 plus 25% of the CGS budgeted for the following month.
CGS is equal to 60% of sales revenue.
Purchases are paid 50% in the month of purchase and 50% in the following month.
Other monthly expenses are as follows:
Rent expense $3,000
Salary expense 5,000 (75% paid in month, 25% next month)
Depreciation expense 600
Insurance expense 150
Income tax 20% of Operating Income (paid at end of quarter)
Dividends of $1,875 are declared quarterly and paid the following month.
The company must maintain a minimum cash balance of $20,000. At 12% interest, an open line of credit is available at a local bank. If funds are needed, they must be borrowed at the beginning of the month in which they will be needed. If there are excess funds at the end of the month, the company will pay all or part of the loan on a FIFO basis plus interest due on the amount of principal being repaid. All borrowing and principle repayments must be in multiples of $1,000.
The company has planned to purchase a vacant lot costing $15,000 in May.
REQUIRED:
The budget in detail. That is all the applicable budget reports that respond to the problem requirements. Use the formats shown in Chapter 22 of the text as your general guideline.
Sales Budget Cash Receipts Budget
Purchases Budget Cash Payments Budget
Operating Expenses Budget Cash Budget
Budgeted I/S Budgeted B/S
Horizontal and Vertical analysis on the Balance Sheet and Income Statement portions of the budget, to the extent you can with the data given.
Contribution Margin and Break/Even computations based on your assumptions as to the variable and fixed costs.
A list of two or three potential problems you see in your specific budget situation, and suggestions as to how you would solve those problems. Be specific and brief here.
The impact of a 20% increase in the number of units sold. That is a flexible budget that shows what would happen to the Income Statement, Balance Sheet, Cash Budget, and Break-Even.
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
CLICK ON THE LINK HERE: https://www.perfectacademic.com/orders/ordernow
Also, you can place the order at www.collegepaper.us/orders/ordernow / www.phdwriters.us/orders/ordernow
Do You Have Any Other Essay/Assignment/Class Project/Homework Related to this? Click Here Now [CLICK ME]and Have It Done by Our PhD Qualified Writers!!