Question

Data regarding Your Company’s operations follow: • Sales are budgeted at $260,000 for November, $230,000 for...

Data regarding Your Company’s operations follow:
• Sales are budgeted at $260,000 for November, $230,000 for December, and $210,000 for January.
• Cash collections in total for November and December are expected to be $451,500
• The cost of goods sold is 80% of sales.
• The company purchases 100% of its merchandise in the month prior to the month of. Payment for merchandise is made in the month of sale.
• Other monthly expenses to be paid in cash are $21,700.
• Monthly depreciation is $17,000.
• Beginning balance in Cash on November 1 is expected to be $28,000
What is he cash balance at the end of December would be:

$44,100

$16,100

$10,100

$65,800
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

PS: Depreciation is an non cash expense and thus excluded.

Answer:- $44,100

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: Sales are...
Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: Sales are budgeted at $430,000 for November, $440,000 for December, and $420,000 for January. Collections are expected to be 40% in the month of sale and 60% in the month following the sale. The cost of goods sold is 75% of sales. The company desires an ending merchandise inventory equal to 20% of the cost of goods sold in the following month. Payment for merchandise is...
Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: Sales are...
Capes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: Sales are budgeted at $390,000 for November, $400,000 for December, and $380,000 for January. Collections are expected to be 55% in the month of sale and 45% in the month following the sale. The cost of goods sold is 80% of sales. The company desires an ending merchandise inventory equal to 35% of the cost of goods sold in the following month. Payment for merchandise is...
apes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: Sales are...
apes Corporation is a wholesaler of industrial goods. Data regarding the store's operations follow: Sales are budgeted at $370,000 for November, $380,000 for December, and $360,000 for January. Collections are expected to be 45% in the month of sale and 55% in the month following the sale. The cost of goods sold is 70% of sales. The company desires an ending merchandise inventory equal to 25% of the cost of goods sold in the following month. Payment for merchandise is...
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:...
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $350,000 for November, $330,000 for December, and $320,000 for January. Collections are expected to be 45% in the month of sale and 55% 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 80% 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:...
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $310,000 for November, $290,000 for December, and $280,000 for January. Collections are expected to be 60% in the month of sale and 40% in the month following the sale. The cost of goods sold is 65% of sales. The company would like to maintain ending merchandise inventories equal to 55% of the next month's cost of goods sold. Payment for...
Balance sheet and other cash information for International Gourmet Foods is presented below. Sales are budgeted...
Balance sheet and other cash information for International Gourmet Foods is presented below. Sales are budgeted at $230,000 for November, $210,000 for December, and $200,000 for January. Collections are expected to be 40% in the month of sale and 60% in the month following the sale. The cost of goods sold is 65% of sales. The company would like to maintain ending merchandise inventories equal to 55% of the next month's cost of goods sold. Payment for merchandise is made...
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:...
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $330,000 for November, $310,000 for December, and $300,000 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 75% of sales. The company would like to maintain ending merchandise inventories equal to 65% 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:...
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $370,000 for November, $350,000 for December, and $340,000 for January. Collections are expected to be 55% in the month of sale and 45% in the month following the sale. The cost of goods sold is 70% of sales. The company would like maintain ending merchandise inventories equal to 60% of the next month's cost of goods sold. Payment for merchandise...
Weldon Industrial Gas Corporation supplies acetylene and other compressed gases to industrial customers. Data regarding the...
Weldon Industrial Gas Corporation supplies acetylene and other compressed gases to industrial customers. Data regarding the store's operations follow: Sales are budgeted at $360,000 for November, $380,000 for December, and $350,000 for January. Collections are expected to be 75% in the month of sale, 20% in the month following the sale, and 5% uncollectible. Beginning November accounts receivable is $74,000. The cost of goods sold is 65% of sales. The company purchases 60% of its compressed gases in the month...
Bracken Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:...
Bracken Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: o Sales are budgeted at $410,000 for November, $512,000 for December, and $354,000 for January. o Collections are expected to be 80% in the month of sale, 17% in the month following the sale, and 3% uncollectible. o The cost of goods sold is 65% of sales. o The company would like to maintain ending merchandise inventories equal to 70% of the next month's...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT