Homework Answers
| April | May | June | |
| Cost of Goods Sold | $ 80,000 | $ 81,600 | $ 83,200 |
| Plus : Desired Ending Merchandise Inventory | $ 27,400 | $ 27,800 | |
| Total merchandise inventory required | $ 107,400 | $ 109,400 | |
| Less : Beginning Merchandise Inventory | $ 27,000 | $ 27,400 | |
| Budgeted Purchases | $ 80,400 | $ 82,000 |
Ending Inventory
April = $7000 + $81600 * 25%
May = $7000 + $83200 * 25%
| April | May | |
| Variable Expenses | ||
| Sales Commission | $ 8,000 | $ 8,160 |
| Fixed Expenses | ||
| Monthly Salaries | $ 8,000 | $ 8,000 |
| Rent | $ 2,200 | $ 2,200 |
| Insurance | $ 400 | $ 400 |
| Depreciation | $ 500 | $ 500 |
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please show how to calculate the answer, i am confused
all amounts to the nearest dollar....
prepare rulers sales budget for april and may 2014. round all amounts to nearest $1. Question...
prepare rulers sales budget for april and may 2014. round all
amounts to nearest $1.
Question 1 Ruler's March 31, 2014, balance sheet follows: Ruler Office Supply Balance Sheet March 31, 2014 Assets Current Assets: 32,000 Cash 20,000 Accounts Receivable Merchandise Inventory 17,500 1,700 Prepaid Insurance Total Current Assets 71,200 Property, Plant, and Equipment: Equipment and Fixtures 55,000 (26,000) 29,000 Less: Accumulated Depreciation 100,200 Total Assets Liabilities Current Liabilities: Accounts Payable 10,000 3,600 Salaries and Commissions Payable Total Liabilities 13,600...
HW chapter 22 Question 1 Ruler's March 31, 2014, balance sheet follows: Ruler Office Supply Balance...
HW chapter 22 Question 1 Ruler's March 31, 2014, balance sheet follows: Ruler Office Supply Balance Sheet March 31, 2014 Assets Current Assets Cash 32.000 Accounts Receivable 20,000 Merchandise Inventory 17.500 Prepaid Insurance 1.700 Total Current Assets 71.200 Property. Plant, and Equipment Equipment and Fixtures 55.000 Less: Accumulated Depreciation (26,000) 29,000 Total Assets $ 100.200 Liabilities Current Liabilities: Accounts Payable $ 10,000 Salaries and Commissions Payable 3,600 Total Liabilities $ 13.600 Stockholders' Equity Common Stock 13.000 Retained Eamings 73,600 Total...
HW chapter 22 Question 1 Ruler's March 31, 2014, balance sheet follows: Ruler Office Supply Balance...
HW chapter 22 Question 1 Ruler's March 31, 2014, balance sheet follows: Ruler Office Supply Balance Sheet March 31, 2014 Assets Current Assets Cash Accounts Receivable 20.000 Merchandise Inventory 17.500 Prepaid Insurance 1.700 Total Current Assets 71,200 Property. Plant, and Equipment Equipment and Futures 55.000 Less: Accumulated Depreciation (26,000) 29 000 Total Assets $ 100.200 Liabilities Current Liabilities: Accounts Payable $ 10.000 Salaries and Commissions Payable 3,600 Total Liabilities $ 13,600 Stockholders' Equity Common Stock 13,000 Retained Earmings 73.600 Total...
Clipboard Office Supply's March 31, 2018, balance sheet follows: mm Click the loon to view the...
Clipboard Office Supply's March 31, 2018, balance sheet follows: mm Click the loon to view the balance sheet) The budget committee of Cipboard Office Supply has assembled the following data Click the icon to view the data) Read the requirements Requirement 1. Prepare Clipboard's sales budget for April and May 2018. Round all amounts to the nearest dolar Clipboard Office Supply Sales Budget April and May, 2018 1 April May Tow budgeted as Requirement 2. Prepare Clourd's inventory, purchases, and...
a. jo Sales in April are expected to be $180,000. Vinning forecasts that monthly sales will...
a. jo Sales in April are expected to be $180,000. Vinning forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. Vinning maintains inventory of $13,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. Monthly salaries amount to $8,000. Sales commissions equal 5% of sales for that...
Printer Office Supply's March 31, 2018, balance sheet follows: E: (Click the icon to view the...
Printer Office Supply's March 31, 2018, balance sheet follows: E: (Click the icon to view the balance sheet.) The budget committee of Printer Office Supply has assembled t following data: (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare Printer's sales budget for April and May 2018. Round all amounts to the nearest dollar. Printer Office Supply Sales Budget Anril and Max 2018 More Info Total budg Requireme a. b. C. d. Sales in April are...
ster- Score: 0 of 10 pts 1 of 1 (0 complet i Data Table The L...
ster- Score: 0 of 10 pts 1 of 1 (0 complet i Data Table The L Read Fountain Office Supply Balance Sheet March 31, 2018 Assets o the ne 24,000 Current Assets: Cash Accounts Receivable Merchandise Inventory mpus earn 15,000 29,000 1,500 Prepaid Insurance Total Current Assets $ 69,500 Property, Plant, and Equipment: Equipment and Fixtures 61,000 (15,000) Less: Accumulated Depreciation 46,000 115.500 Print Print Done Pem Clear All 2 remaining ster- Score: 0 of 10 pts 1 of 1...
The budget committee of printer office supply has assembled the following data: Question 2: The budget...
The budget committee of printer office supply has assembled the
following data:
Question 2: The budget committee of Printer Office Supply has assembled the following data: Printer Office Supply Balance Sheet March 31, 2014 Liabilities Current Assets Cash Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable S 34,000 15,000 19,500 1,400 16.250 4,725 Salaries and Commissions Payable Total Liabilities $ 20,975 $ 69,900 Stockholders' Equity Prepaid Insurance Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures Common Stock 17,000...
please explain how to get each answer, i am very confused i Requirements 1. 2. Prepare...
please explain how to get each answer, i am very
confused
i Requirements 1. 2. Prepare the schedule of cash receipts from customers for January and February 2018. Assume cash receipts are 80% in the month of the sale and 20% in the month following the sale. Prepare the schedule of cash payments for purchases for January and February 2018. Assume purchases are paid 60% in the month of purchase and 40% in the month following the purchase. Prepare the...
Please help me with all the requirment 12 Deacon Company is a merchandising company that is...
Please help me with all the
requirment
12 Deacon Company is a merchandising company that is preparing a budget for the three-month period ended June 30th. The following information is available Deacon Company Balance Sheet March 31 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 68,200 42,000 63,400 122,000 $ 295,600 $ 96,400 70,000 129,200 $ 295,600 Budgeted Income...
prepare rulers sales budget for april and may 2014. round all
amounts to nearest $1.
Question 1 Ruler's March 31, 2014, balance sheet follows: Ruler Office Supply Balance Sheet March 31, 2014 Assets Current Assets: 32,000 Cash 20,000 Accounts Receivable Merchandise Inventory 17,500 1,700 Prepaid Insurance Total Current Assets 71,200 Property, Plant, and Equipment: Equipment and Fixtures 55,000 (26,000) 29,000 Less: Accumulated Depreciation 100,200 Total Assets Liabilities Current Liabilities: Accounts Payable 10,000 3,600 Salaries and Commissions Payable Total Liabilities 13,600...
HW chapter 22 Question 1 Ruler's March 31, 2014, balance sheet follows: Ruler Office Supply Balance Sheet March 31, 2014 Assets Current Assets Cash 32.000 Accounts Receivable 20,000 Merchandise Inventory 17.500 Prepaid Insurance 1.700 Total Current Assets 71.200 Property. Plant, and Equipment Equipment and Fixtures 55.000 Less: Accumulated Depreciation (26,000) 29,000 Total Assets $ 100.200 Liabilities Current Liabilities: Accounts Payable $ 10,000 Salaries and Commissions Payable 3,600 Total Liabilities $ 13.600 Stockholders' Equity Common Stock 13.000 Retained Eamings 73,600 Total...
HW chapter 22 Question 1 Ruler's March 31, 2014, balance sheet follows: Ruler Office Supply Balance Sheet March 31, 2014 Assets Current Assets Cash Accounts Receivable 20.000 Merchandise Inventory 17.500 Prepaid Insurance 1.700 Total Current Assets 71,200 Property. Plant, and Equipment Equipment and Futures 55.000 Less: Accumulated Depreciation (26,000) 29 000 Total Assets $ 100.200 Liabilities Current Liabilities: Accounts Payable $ 10.000 Salaries and Commissions Payable 3,600 Total Liabilities $ 13,600 Stockholders' Equity Common Stock 13,000 Retained Earmings 73.600 Total...
Clipboard Office Supply's March 31, 2018, balance sheet follows: mm Click the loon to view the balance sheet) The budget committee of Cipboard Office Supply has assembled the following data Click the icon to view the data) Read the requirements Requirement 1. Prepare Clipboard's sales budget for April and May 2018. Round all amounts to the nearest dolar Clipboard Office Supply Sales Budget April and May, 2018 1 April May Tow budgeted as Requirement 2. Prepare Clourd's inventory, purchases, and...
a. jo Sales in April are expected to be $180,000. Vinning forecasts that monthly sales will increase 2% over April sales in May. June's sales will increase by 4% over April sales. July sales will increase 20% over April sales. Vinning maintains inventory of $13,000 plus 25% of the cost of goods sold budgeted for the following month. Cost of goods sold equal 50% of sales revenue. Monthly salaries amount to $8,000. Sales commissions equal 5% of sales for that...
Printer Office Supply's March 31, 2018, balance sheet follows: E: (Click the icon to view the balance sheet.) The budget committee of Printer Office Supply has assembled t following data: (Click the icon to view the data.) Read the requirements. Requirement 1. Prepare Printer's sales budget for April and May 2018. Round all amounts to the nearest dollar. Printer Office Supply Sales Budget Anril and Max 2018 More Info Total budg Requireme a. b. C. d. Sales in April are...
ster- Score: 0 of 10 pts 1 of 1 (0 complet i Data Table The L Read Fountain Office Supply Balance Sheet March 31, 2018 Assets o the ne 24,000 Current Assets: Cash Accounts Receivable Merchandise Inventory mpus earn 15,000 29,000 1,500 Prepaid Insurance Total Current Assets $ 69,500 Property, Plant, and Equipment: Equipment and Fixtures 61,000 (15,000) Less: Accumulated Depreciation 46,000 115.500 Print Print Done Pem Clear All 2 remaining ster- Score: 0 of 10 pts 1 of 1...
The budget committee of printer office supply has assembled the
following data:
Question 2: The budget committee of Printer Office Supply has assembled the following data: Printer Office Supply Balance Sheet March 31, 2014 Liabilities Current Assets Cash Accounts Receivable Merchandise Inventory Current Liabilities: Accounts Payable S 34,000 15,000 19,500 1,400 16.250 4,725 Salaries and Commissions Payable Total Liabilities $ 20,975 $ 69,900 Stockholders' Equity Prepaid Insurance Total Current Assets Property, Plant, and Equipment: Equipment and Fixtures Common Stock 17,000...
please explain how to get each answer, i am very
confused
i Requirements 1. 2. Prepare the schedule of cash receipts from customers for January and February 2018. Assume cash receipts are 80% in the month of the sale and 20% in the month following the sale. Prepare the schedule of cash payments for purchases for January and February 2018. Assume purchases are paid 60% in the month of purchase and 40% in the month following the purchase. Prepare the...
Please help me with all the
requirment
12 Deacon Company is a merchandising company that is preparing a budget for the three-month period ended June 30th. The following information is available Deacon Company Balance Sheet March 31 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 68,200 42,000 63,400 122,000 $ 295,600 $ 96,400 70,000 129,200 $ 295,600 Budgeted Income...
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