Business, 31.12.2020 19:10 krishawnnn
Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow:
Sales are budgeted at $305,000 for November, $325,000 for December, and $225,000 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 desires to have an ending merchandise inventory at the end of each month equal to 70% 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 $22,600.
Monthly depreciation is $28,500.
Assets
Cash $34,000
Accounts receivable 84,500
Merchandise inventory 170,800
Property, plant and equipment, net of $624,000 accumulated depreciation 920,000
Total assets $1,209,300
Liabilities and Stockholders' Equity
Accounts payable $254,000
Common stock 755,000
Retained earnings 200,300
Total liabilities and stockholders' equity $1,209,300
The difference between cash receipts and cash disbursements for December would be:
a. $6,200
b. $13,500
c. $25,900
d. $40,200
Answers: 2
Business, 22.06.2019 02:30
rural residential development company and suburban real estate corporation form a joint stock company. the longest duration a joint stock company can be formed for is
Answers: 2
Business, 22.06.2019 06:00
List three careers that require knowledge of science. list three careers that require the use of of math. list three careers that require the use of foreign language. list three careers that require the use of good writing skills. list three careers that require the use of good computer skills.
Answers: 3
Business, 22.06.2019 22:30
Which of the following situations is most likely to change a buyer's market into a seller's market? a. a natural disaster that drives away a lot of the population. b. the price of building materials suddenly going up. c. the government buys up a lot of houses to build a new freeway. d. a factory laying off a lot of workers in the area.
Answers: 1
Business, 23.06.2019 10:00
When the amount paid for land is $36,000 and the amount paid for expenses is $10,000, the balance in total assets after transaction (b) is
Answers: 1
Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operation...
Mathematics, 05.10.2020 14:01
Mathematics, 05.10.2020 14:01
Social Studies, 05.10.2020 14:01
Social Studies, 05.10.2020 14:01
Physics, 05.10.2020 14:01
Geography, 05.10.2020 14:01
Mathematics, 05.10.2020 14:01
Mathematics, 05.10.2020 14:01