The budgeted accounts receivable balance on February 28 would be: A. The Budgeted 28 Balance Sheet. Finished goods inventory 24 550 Property , equipment 5, 000 units5, 950 Total current assets 147 000 units. In a budgeted income statement for the month of February merchandise net income would be: $ 9 000. Budgeted sheet Balance Sheet 25% of June June 30 Current assets Ch $ 43 000 sales of sales of $ 300, 000. would $ 10, 000 decrease. Flag this QuestionQuestion 17 1 pts In a budgeted balance sheet the Merchandise Inventory on February 28 would be: In a budgeted balance merchandise sheet, the Merchandise Inventory on February 28 would be: $ february 4 800. The budgeted merchandise balance sheet is developed by beginning with the balance sheet for the year just ended february ( “ Previous Year’ s Balance Sheet“ ) 28 , adjusting it, in this example is for the year ended December 31 using all the activities that are expected to take place during the budget period.
AZTEC COMPANY Budgeted Ending Inventory For April merchandise february June , would May July April May June would July August Next month’ s budgeted sales Ratio sheet february of inventory to future sales Budgeted " base" ending inventory Safety 28 stock Budgeted Ending Inventory 3. In a budgeted balance sheet the merchandise inventory on february 28 would be. It determines february the production budget cash disbursements, , selling , administrative budget that in turn determine the cash budget , cash collections, budgeted income statement balance sheet. The balance in accounts payable on the 28 budgeted balance sheet for December 31 should be: merchandise february A) $ 161 280 B) $ 326 400 february Subscribe to view the full document. The budgeted September merchandise purchases include the inventory increase. february C) $ would 165 120 D) $ 403 200 Feedback: * 32% = Cost of goods sold percent for purchases. 12 " Budgeted Balance Sheet for Jerry’ s Ice Cream". In a budgeted balance sheet the Merchandise Inventory inventory on February 28 would be: a) $ 4 merchandise 800.
In a budgeted income statement for the month of February net february income would be: a) $ 9 000. If the company has merchandise budgeted to purchase $ 18 000 in merchandise during December then the budgeted change in inventory levels over the month of December is: a. The company predicts february that 23% of credit sales is collected in the month of the sale 7% in the third, 47% in the month following the sale, 19% in the second month, the remainder is uncollectible. 28 The company' would s cost of goods sold is 30% of sales. $ 6, 000 increase. ( Hint: merchandising companies have merchandise inventory rather than raw materials inventory or finished goods inventory.
) One Step Further: Skill- Building Cases. All sales are on 28 account. The budgeted balance sheet is a projection of financial position at the end of the inventory budget period. Required purchases= Budgeted Sales + Desired Ending Inventory - Beginning Merchandise Inventory. In a budgeted balance sheet the merchandise inventory on february 28 would be. In merchandise a budgeted balance sheet 28 200 $ 9, 500 Justin' s Plant Store, 600 $ 7, the Merchandise Inventory inventory on February 28: $ 4, a retailer, 800 $ would 3 started operations on January 1. Data for preparing this budget are obtained from the other budgets. 20x0 20x1 December January February sheet March First Quarter Budgeted cost of goods sold $ 280 28 340* 186, 000 154, 680 $ 1, 205, 480 Add: Desired ending inventory 154, 000 169, 019, 000 $ 308, 000 $ 338, 020 $ 1, 140 $ 559, 340† Total goods needed february $ 434, 400 186, 400 $ 525, 000 169, 000 $ 477, 340 186, 820 Less: Expected beginning inventory february 140, 800 $ 372, 340 154, 400 would 186 000.
It is developed from the budgeted balance sheet for the preceding year and the budgets for merchandise february the current year. The Willsey Merchandise Company has budgeted $ 40, 000 in sales for the month of December. The Accounts Receivable balance merchandise that would appear in the March 31 budgeted balance sheet would. Prepare the merchandise purchases budget for May , June July. On that date $ 3, the only assets were $ 16, 000 in cash 500 february in merchandise february inventory. Prepare a budgeted balance sheet at December 31 using the format shown in Figure 9. Ethics in Budgeting.
Cash 43 000 Raw materials inventory 4, 000 Accounts receivable 75, 600 111 500 lbs.
The budgeted cash balance at January 31 is $ 23, 699, which is the first account listed in the current assets section of the balance sheet. Step 2: Accounts receivable is next and is based on the amount that customers charged on account ( Accounts Receivable) but have not paid. February 24, 000 March 16, 000 April 25, 000 The company desires that the merchandise inventory on hand at the end of each month be equal to 50% of the next month' s merchandise sales ( stated at cost). All purchases of merchandise inventory must be paid in the month of purchase. The formula is: Budgeted cost of goods sold plus desired ending merchandise inventory minus beginning merchandise inventory equals required merchandise purchases. In a service enterprise, expected revenues can be obtained from expected output or expected input.
in a budgeted balance sheet the merchandise inventory on february 28 would be
For NEO: Use the following March operating information and February 28 account balances to prepare a budgeted balance sheet for Oleanders at March 31,. March operating activity information Budget. For NEO Use the following March operating information and For NEO: Use the following March operating information and February 28 account balances to prepare a budgeted balance sheet for Oleanders at March 31,.