Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company sells a sirgie product. sales for the up

A company sells a sirgie product. Sales for the upcoming quarter are budgeted as: -...

80.2K

Verified Solution

Question

Accounting

image
A company sells a sirgie product. Sales for the upcoming quarter are budgeted as: - April - 5250.000 - Mar - $268.000 - hune - 52.95.300 - Auly - $302.670 Assume all sales are on account. Sales are collected as: 1005 collected in the first month after the month of wale, and the remaining 90% are collected in the 2 nd month after the month of sale. Compute the budgeted cash collections for ane 5251800 208.450: 3268000. 5301.933 Question 5 A company is preparing a cash budget for Oct. Nov and Dec. Sales for each month are $120,600, $135,800 and $119,500. The disbursements for each month are as follows (Oct, Nov, Dec): - Disbursements for merchandise are budgeted as $25,000,$20,300 and 22,840 . - Administrative expenses are 10% of the current month sales. - Selling commissions are 15% of sales. Additiogal sales salaries are $2,500 per month - The company expects to pay income taxes of $5.000 in November. - Equipment will be purchased for $30.000 in October. Total cash disbursements for October is: 352.650 561.750 587.650 500750

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students