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Mr. Raju just appointed as an account manager at NH Sdn Bhd, a retail company selling...
Question 1 Tijari Sdn Bhd is a main distributor of Mediterranean juices in Kuala Lumpur. The...
Question 1 Tijari Sdn Bhd is a main distributor of Mediterranean juices in Kuala Lumpur. The company's Budgeted Statement of Financial Position as of 30" June 2018 is shown below: Tijari Sdn Bhd Statement of Financial Position as at 30" June 2018 Assets Cash Accounts receivable RM 90,000 136,000 Inventory Plant and equipment, net of depreciation Total assets 100,000 210,000 536,000 Liabilities and shareholders' equity Accounts payable Common shares Retained earnings Total liabilities and shareholders' equity 109,100 327,000 99,900 536,000...
PART B - Answer THREE questions only. Question 1 Tijari Sdn Bhd is a main distributor...
PART B - Answer THREE questions only. Question 1 Tijari Sdn Bhd is a main distributor of Mediterranean juices in Kuala Lumpur. The company's Budgeted Statement of Financial Position as of 30 June 2018 is shown below: Tijari Sdn Bhd Statement of Financial Position as at 30 June 2018 Assets RM Cash 90,000 Accounts receivable 136,000 Inventory 100,000 Plant and equipment, net of depreciation 210,000 Total assets 536,000 Liabilities and shareholders' equity Accounts payable Common shares Retained earnings Total liabilities...
1: Prepare a sales budget, including a schedule of expected cash collections. 2: prepare a merchandise...
1: Prepare a sales budget, including a schedule of expected
cash collections.
2: prepare a merchandise purchase budget, including a schedule
of expected cash disbursements for merchandise, and a selling and
administrative budget.
3: prepare a cash budget.
MOST LIKELY NUMBERS AND ASSUMPTIONS SALES MANAGER PRIVATE INFORMATION October Most likely sales 600,000 910,000 475,000 385,000 PURCHASING MANAGER PRIVATE INFORMATION Most likely cost of merchandise as a % of sales Desired ending inventory as a percentage of next month's cost of...
Benson Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, year 1. The company president formed a planning committee to prepare a master budget for the first three
RequiredOctober sales are estimated to be $140,000, of which 35 percent will be cash and 65 percent will be credit. The company expects sales to increase at the rate of 20 percent per month. Prepare a sales budget.The company expects to collect 100 percent of the accounts receivable generated by credit sales in the month following the sale. Prepare a schedule of cash receipts.The cost of goods sold is 60 percent of sales. The company desires to maintain a minimum...
Vonn Company, a furniture store, prepares its master budget on a quarterly basis. The following data...
Vonn Company, a furniture store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the quarter: As of the end of the prior quarter, September 30, the company’s general ledger showed the following account balances: Cash $62,000 (debit) Accounts receivable $480,000 (debit) Inventory $78,000 (debit) Buildings and equipment, net $570,000 (debit) Accounts payable $193,000 (credit) Capital stock $300,000 (credit) Retained earnings $619,000 (credit) Actual sales for September...
QUESTION 1 Sansomite Sdn. Bhd. distributes suitcases to retail stores and extends credit terms of 1/10,...
QUESTION 1 Sansomite Sdn. Bhd. distributes suitcases to retail stores and extends credit terms of 1/10, n/30 to all of its customers. At the end of June, Sansomite's inventory consisted of 40 suitcases purchased at RM 30 each. During the month of July, the following merchandising transactions occurred. July. July. July. July July July. Purchased 60 suitcases on account for RM 30 each from Trunk Manufacturers Sdn. Bhd., terms 2/10, n/30. 3 Sold 40 suitcases on account to Satchel World...
Thornton Company is a retail company that specializes in selling outdoor camping equipment. The company is...
Thornton Company is a retail company that specializes in selling outdoor camping equipment. The company is considering opening a new store on October 1, 2019. The company president formed a planning committee to prepare a master budget for the first three months of operation. As budget coordinator, you have been assigned the following tasks: d. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the following month. Prepare a cash...
High End Crockery Corp makes pottery bowls. The following information is available: Budgeted Selling Price $200...
High End Crockery Corp makes pottery bowls. The following information is available: Budgeted Selling Price $200 each Budgeted Unit Sales December 4,000 January 3,500 February 2,500 March 2,000 April 1,800 Desired ending finished goods inventory 15% of next month's sales Pounds of clay needed per bowl 4 Price per pound of clay $2.50 Desired ending inventory direct materials 30% of next month's production needs December purchases for direct materials $37,525 Direct labor hours per bowl...
Please use above formats for each budget and show cell references/formulas for all parts to receive...
Please use above formats for each budget and show cell
references/formulas for all parts to receive credit
First Store prepares budgets quarterly. The following information is available for use in planning the second quarter budgets for 2020. Balance Sheet March 31, 2020 Assets Cash Accounts receivable Inventory Prepaid Insurance Net Fixtures Total Assets 2,000 25,000 29,400 2,000 25,000 83,400 Liabilities 25,480 6,000 31,480 Accounts payable Dividends payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total liabilities and Stockholders' equity...
Please show excel formula references/formulas First Store prepares budgets quarterly. The following information is available for...
Please show excel formula references/formulas
First Store prepares budgets quarterly. The following information is available for use in planning the second quarter budgets for 2020. Balance Sheet March 31, 2020 Assets Cash Accounts receivable Inventory Prepaid Insurance Net Fixtures Total Assets 2,000 25,000 29,400 2,000 25,000 83,400 Liabilities 25,480 6,000 31,480 Accounts payable Dividends payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total liabilities and Stockholders' equity $ 14,920 37,000 51,920 83,400 $ Sales Revenue Month January February March...
Question 1 Tijari Sdn Bhd is a main distributor of Mediterranean juices in Kuala Lumpur. The company's Budgeted Statement of Financial Position as of 30" June 2018 is shown below: Tijari Sdn Bhd Statement of Financial Position as at 30" June 2018 Assets Cash Accounts receivable RM 90,000 136,000 Inventory Plant and equipment, net of depreciation Total assets 100,000 210,000 536,000 Liabilities and shareholders' equity Accounts payable Common shares Retained earnings Total liabilities and shareholders' equity 109,100 327,000 99,900 536,000...
PART B - Answer THREE questions only. Question 1 Tijari Sdn Bhd is a main distributor of Mediterranean juices in Kuala Lumpur. The company's Budgeted Statement of Financial Position as of 30 June 2018 is shown below: Tijari Sdn Bhd Statement of Financial Position as at 30 June 2018 Assets RM Cash 90,000 Accounts receivable 136,000 Inventory 100,000 Plant and equipment, net of depreciation 210,000 Total assets 536,000 Liabilities and shareholders' equity Accounts payable Common shares Retained earnings Total liabilities...
1: Prepare a sales budget, including a schedule of expected
cash collections.
2: prepare a merchandise purchase budget, including a schedule
of expected cash disbursements for merchandise, and a selling and
administrative budget.
3: prepare a cash budget.
MOST LIKELY NUMBERS AND ASSUMPTIONS SALES MANAGER PRIVATE INFORMATION October Most likely sales 600,000 910,000 475,000 385,000 PURCHASING MANAGER PRIVATE INFORMATION Most likely cost of merchandise as a % of sales Desired ending inventory as a percentage of next month's cost of...
QUESTION 1 Sansomite Sdn. Bhd. distributes suitcases to retail stores and extends credit terms of 1/10, n/30 to all of its customers. At the end of June, Sansomite's inventory consisted of 40 suitcases purchased at RM 30 each. During the month of July, the following merchandising transactions occurred. July. July. July. July July July. Purchased 60 suitcases on account for RM 30 each from Trunk Manufacturers Sdn. Bhd., terms 2/10, n/30. 3 Sold 40 suitcases on account to Satchel World...
Please use above formats for each budget and show cell
references/formulas for all parts to receive credit
First Store prepares budgets quarterly. The following information is available for use in planning the second quarter budgets for 2020. Balance Sheet March 31, 2020 Assets Cash Accounts receivable Inventory Prepaid Insurance Net Fixtures Total Assets 2,000 25,000 29,400 2,000 25,000 83,400 Liabilities 25,480 6,000 31,480 Accounts payable Dividends payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total liabilities and Stockholders' equity...
Please show excel formula references/formulas
First Store prepares budgets quarterly. The following information is available for use in planning the second quarter budgets for 2020. Balance Sheet March 31, 2020 Assets Cash Accounts receivable Inventory Prepaid Insurance Net Fixtures Total Assets 2,000 25,000 29,400 2,000 25,000 83,400 Liabilities 25,480 6,000 31,480 Accounts payable Dividends payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total liabilities and Stockholders' equity $ 14,920 37,000 51,920 83,400 $ Sales Revenue Month January February March...
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