Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assume a merchandising company's estimated sales f

Assume a merchandising company's estimated sales for January, February, and March are $104,000, $124.000, and...

50.1K

Verified Solution

Question

Accounting

image
Assume a merchandising company's estimated sales for January, February, and March are $104,000, $124.000, and $14,000, respectively. Its cost of goods sold is always 60% of its sales. The company always maintains ending merchandise inventory equal to 15% of next month's cost of goods sold, it pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% in the subsequent month. What are the cash disbursements for merchandise purchases that would appear in the company's cash budget for February? Multiple Choice $63,990 $66,990 $69,990 $68,990

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

Algebra
1.2K views

Solve e (3-1) -e = 0 using the one-to-one property of exponential functions.

Physics
1.2K views

14 20 cmf Figure 3 20 cm 45 10 cm 20 cm 13 3 A...

Geometry
1.2K views

29 Given Prove Plan R Parallelogram RSTV also XY VT 21 LS First show that...

Basic Math
1.2K views

Calculate the time necessary to achieve an investment goal Give your answer to the nearest...

Basic Math
1.2K views

Rewrite the following without an exponent 8 0

Algebra
1.2K views

What would be the axis of symmetry in the graph below 54 2 1 Ox...

Accounting
1.2K views

The December bank statement and cash T-account for Stewart Company follow: ...

Accounting
1.2K views

Required: 1. Assume that the company uses absorption costing: a. Compute the unit product cost....

Accounting
1.2K views

Delta owned two assets which were sold on 1 April 20X1 the first day...

Finance
1.2K views

Jack purchased a $200,000 whole life insurance policy and designated his wife, Judy, as the...

Finance
1.2K views

FTSE Italia All-Share Index, which companies are eligible (free-float, capital), the date insert in stock...

Accounting
1.2K views

Discuss the effects of all five major accounting assumptions on the accounting process.