Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assume a merchandising companys estimated sales fo

Assume a merchandising companys estimated sales for January, February, and March are $102,000, $122,000, and...

50.1K

Verified Solution

Question

Accounting

Assume a merchandising companys estimated sales for January, February, and March are $102,000, $122,000, and $112,000, respectively. Its cost of goods sold is always 35% of its sales. The company always maintains ending merchandise inventory equal to 20% of next months cost of goods sold. It pays for 25% of its merchandise purchases in the month of the purchase and the remaining 75% in the subsequent month. What are the cash disbursements for merchandise purchases that would appear in the companys cash budget for February? Multiple Choice $40,325 $41,325 $38,325 $35,325

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

Q

Develop a recipe for 1.00 L of pH 4.50 buffer using only 17.4 M HC2H3O2 and...

Chemistry
Q

1. We want to design a discrete-time bandpass filter that samples and processes analog signals. The...

Electrical Engineering
Q

The pure rotational levels of a molecule in the far infrared region follows the formula...

Physics
Q

The plane x + y + 2z = 12 intersects the paraboloid z = x...

Basic Math
Q

3 Suppose f x sin x2 4 1 Identify any points of discontinuity and determine...

Calculus
Q

x 3 x 7x 12 1 f x 2 f x 2 x 5x 6...

Algebra
Q

Bridget Youhzi works for a large firm. Her alma mater has asked her to make...

Accounting
Q

James at the Mill Barn Woods produces handcrafted frames. A standard-size 11 14 inch...

Accounting
Q

The following information is for the inventory of mini-kettles at Monty Company Limited for the...

Accounting
Q

X Company, a manufacturer, prepares monthly financial statements. On January 1, total assets were $114,050....

Accounting
Q

prepare journal entries to record each of the following transactions of a merchandising company. the...

Accounting
Q

In addition to recognizing what type of activity transactions are describing, it is important to...

Accounting