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The Adams Company, a merchandising firm, has budgeted its activity for November a...continues

The Adams Company, a merchandising firm, has budgeted its activity for November according to the following information:

• Sales were at $450,000, all for cash.
• Merchandise inventory on October 31 was $200,000.
• The cash balance on November 1 was $18,000.
• Selling and administrative expenses are budgeted at $60,000 for November and are paid for in cash.
• Budgeted depreciation for November is $25,000.
• The planned merchandise inventory on November 30 is $230,000.
• The cost of goods sold is 70% of the selling price.
• All purchases are paid for in cash.


17. The budgeted cash disbursements for November are

A. $375,000.
B. $405,000.
C. $345,000.
D. $530,000.

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Answer #1
budgeted cash disbursements for November are = $450,000 - $18,000 + $25,000
= $405,000
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Answer #2

The Adams Company, a merchandising firm, has budgeted its activity for November according to the following information:

• Sales were at $450,000, all for cash.
• Merchandise inventory on October 31 was $200,000.
• The cash balance on November 1 was $18,000.
• Selling and administrative expenses are budgeted at $60,000 for November and are paid for in cash.
• Budgeted depreciation for November is $25,000.
• The planned merchandise inventory on November 30 is $230,000.
• The cost of goods sold is 70% of the selling price.
• All purchases are paid for in cash.


17. The budgeted cash disbursements for November are


C. $345,000.

Budgeted Cost of goods--------------- sold = 70% ($450,000)= $315,000

Budgeted Cost of goods sold

$315,000

Desired ending merchandise inventory

$230,000

$545,000

ending merchandise inventory

$230,000

$345,000

answered by: Marvlyn
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