Business, 22.03.2021 19:20 calebhoover03
Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: Sales are budgeted at $303,000 for November, $323,000 for December, and $223,000 for January. Collections are expected to be 70% in the month of sale and 30% in the month following the sale. The cost of goods sold is 75% of sales. The company desires to have an ending merchandise inventory at the end of each month equal to 80% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $22,400. Monthly depreciation is $27,500. Ignore taxes. Balance Sheet October 31 Assets Cash $ 33,000 Accounts receivable 83,500 Merchandise inventory 181,800 Property, plant and equipment, net of $624,000 accumulated depreciation 918,000 Total assets $ 1,216,300 Liabilities and Stockholders' Equity Accounts payable $ 252,000 Common stock 753,000 Retained earnings 211,300 Total liabilities and stockholders' equity $ 1,216,300 The difference between cash receipts and cash disbursements for December would be:
Answers: 3
Business, 22.06.2019 17:50
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Business, 22.06.2019 20:20
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Business, 22.06.2019 20:50
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Business, 22.06.2019 23:00
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Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operation...
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