Provide formulas and procedure in excel
QUESTION 7
Balance Sheet October 31 |
|
Assets |
|
Cash |
$20,000 |
Accounts Receivable |
70,000 |
Merchandise inventory |
153,000 |
Property, Plan and equipment, net $572,000 accumulated depreciation |
1,094,000 |
Total Assets |
$1,337,000 |
Liabilities and Stockholder's Equity |
|
Accounts Payable |
$254,000 |
Common Stock |
820,000 |
Retained Earnings |
263,000 |
Total Liabilities and Stockholders' Equity |
$1,337,000 |
Required :
Calculate the expected cash collections of December.
Cash collection for december = 60% of November Sales+40% of December Sales
= 390000*60%+370000*40%)
Cash collection for December = 382000
Provide formulas and procedure in excel QUESTION 7 Bramble Corporation is a small wholesaler of gourmet...
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Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $210,000 for November, $190,000 for December, and $180,000 for January. Collections are expected to be 50% in the month of sale and 50% in the month following the sale. The cost of goods sold is 55% of sales. The company would like to maintain ending merchandise inventories equal to 45% of the next month's cost of goods sold. Payment for...
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $440,000 for November, $420,000 for December, and $410,000 for January. Collections are expected to be 65% in the month of sale and 35% in the month following the sale. The cost of goods sold is 80% of sales. The company would like to maintain ending merchandise inventories equal to 70% of the next month's cost of goods sold. Payment for...
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