Business, 02.04.2020 20:06 mahmudabiazp3ekot

Bramble Corporation wholesaler of gourmet food products. Data regarding the store's operations follow:Sales are budgeted at $340,000 for November, $320,000 for December, and $310,000 for January. Collections are expected to be 80% in the month of sale and 20% in the month following the sale. The cost of goods sold is 75% of sales. The company would like to maintain ending merchandise inventories equal to 60% October 31 Assets Cash $ 20,000 Accounts receivable 70,000Merchandise inventory 153,000

Property, plant and equipment, net of $572,000

accumulated depreciation 1,094,000

Total assets $ 1,337,000

Liabilities and Stockholders' Equity Accounts payable $ 254,000

Common stock 820,000

Retained earnings 263,000

Total liabilities and stockholders' equity $ 1,337,000

The cost of December merchandise purchases would be: Multiple Choice

a. $240,000

b. $255,000

c. $139,500

d. $235,500

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 03:30

Diversified semiconductors sells perishable electronic components. some must be shipped and stored in reusable protective containers. customers pay a deposit for each container received. the deposit is equal to the container’s cost. they receive a refund when the container is returned. during 2018, deposits collected on containers shipped were $856,000. deposits are forfeited if containers are not returned within 18 months. containers held by customers at january 1, 2018, represented deposits of $587,000. in 2018, $811,000 was refunded and deposits forfeited were $41,000. required: 1. prepare the appropriate journal entries for the deposits received and returned during 2018. 2. determine the liability for refundable deposits to be reported on the december 31, 2018, balance sheet.

Answers: 1

Answer

Business, 22.06.2019 06:00

If you miss two payments on a credit card what is generally the penalty

Answers: 1

Answer

Business, 22.06.2019 13:10

Lin corporation has a single product whose selling price is $136 per unit and whose variable expense is $68 per unit. the company’s monthly fixed expense is $32,400. required: 1. calculate the unit sales needed to attain a target profit of $5,000. (do not round intermediate calculations.) 2. calculate the dollar sales needed to attain a target profit of $8,400.

Answers: 3

Answer

Business, 22.06.2019 19:40

Best burger is a major fast food chain. its managers are motivated to grow the firm in order to increase their market power and change the industry structure in their favor. which of the following strategies is most associated with their motive for growth? a. employing celebrity spokespeople b. implementing automated burger-making machinery c. purchasing competitors d. increasing executive salaries

Answers: 3

Answer

You know the right answer?

Bramble Corporation wholesaler of gourmet food products. Data regarding the store's operations follo...

Questions