Exercise 14-2 Preparing a sales budget LO 14-2
Benson Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Benson has budgeted sales as indicated in the following table. The company expects a 11 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March.
Required
a) | January | February | March |
Cash Sales ($33,000*111/100); ($36,630*111/100) | $33,000 | $36,630 | $40,659.30 |
Sales on Account ($105,000*111/100); ($116,550*111/100) | $105,000 | $116,550 | $129,370.50 |
Total budgeted sales | $138,000 | $153,180 | $170,029.80 |
b) | |||
Sales revenue on first quarter ($138,000+$153,180+$170,029.80) | $461,209.80 |
Note:
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Exercise 14-2 Preparing a sales budget LO 14-2 Benson Company, which expects to start operations on...
Exercise 14-2 Preparing a sales budget LO 14-2 Benson Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Benson has budgeted sales as indicated in the following table. The company expects a 11 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required Complete the sales budget by filling in the missing amounts. Determine the...
Exercise 14-2 Preparing a sales budget LO 14-2 Fanning Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Fanning has budgeted sales as indicated in the following table. The company expects a 13 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts b....
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Gibson Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Gibson has budgeted sales as indicated in the following table. The company expects a 13 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Gibson will...
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Thornton Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Thornton has budgeted sales as indicated in the following table. The company expects a 11 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Thornton will...
Franklin Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Franklin has budgeted sales as indicated in the following table. The company expects a 10 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Franklin will...
Ch 14 HW Help Save & Exit Submit Check my work Exercise 14-2 Preparing a sales budget LO 14-2 points Vernon Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Vernon has budgeted sales as indicated in the following table. The company expects a 15 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Skipped...
Gibson Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Gibson has budgeted sales as indicated in the following table. The company expects a 15 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required Complete the sales budget by filling in the missing amounts. Determine the amount of sales revenue Gibson will report on...
Perez Company, which expects to start operations on January 1, 2018, will sell digital cameras in shopping malls. Perez has budgeted sales as indicated in the following table. The company expects a 10 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Perez will...