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aly Homework Chapter 8 TB MC Qu. 8-125 Dilly Farm Supply is located in a small... Dilly Farm Supply is located in a small town

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aly Homework Chapter 8 TB MC Qu. 8-125 Dilly Farm Supply is located in a small... Dilly Farm Supply is located in a small town in the rural west Data regarding the store's operations to Sales are budgeted at $303.000 for November $323,000 for December, and 5223 000 for January - Collections are expected to be in the month of sale and 30% in the month following the sale The cost of goods sold is 75% of sales. The company desires to have an ending merchandise inventory at the end of each month equal to purchase Other monthly expenses to be paid in cash are $22.400 Monthly depreciation is $27500 Ignore taxes of the next month's cost of goods sold Payment o ch det Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assets 83, 181,800 918,000 $1,216,300 Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 52,000 753,000 211,300 $1,216,300 The difference between cash receipts and cash disbursements for December would be Next >

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