Exercise 14-2A (Algo) Preparing a sales budget LO 14-2 Zachary Company, which expects to start...
50.1K
Verified Solution
Link Copied!
Question
Accounting
Exercise 14-2A (Algo) Preparing a sales budget LO 14-2 Zachary Company, which expects to start operations on January 1, year 2 will sell digital cameras in shopping malls. Zachary has budgeted sales as indicated in the following table. The company expects a 14 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Zachary will report on its first quarter pro forma income statement Required A Required B Complete the sales budget by filling in the missing amounts. (Do not round intermediate calculations. F two decimal places.) February March Sales Cash sales Sales on account Total budgeted sales January $ 40,000 105,000 $ 145,000 $ 0.00 $ 0.00 Required A Required B Determine the amount of sales revenue Zachary will report on its first quarter pro intermediate calculations. Round final answers to two decimal places.) Sales revenue
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!
