Business, 21.07.2021 22:40, shellxavier1
The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information:
a. Sales at $550,000, all for cash.
b. Merchandise inventory on November 30 was $300,000.
c. The cash balance at December 1 was $25,000.
d. Selling and administrative expenses are budgeted at $60,000 for December and are paid in cash.
e. Budgeted depreciation for December is $35,000.
f. The planned merchandise inventory on December 31 is $270,000.
g. The cost of goods sold is 75% of the sales price. All purchases are paid for in cash.
h. There is no interest expense or income tax expense.
Required:
a. What are the budgeted cash receipts for December?
b. What are the budgeted cash disbursements for December?
c. What is the budgeted net income for December?
Answers: 1
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The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to...
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