Question
Belmond Inc. uses a 7% of sales method to determine its marketing promotion budget. Based on the financial statements below, how much did the company
- Belmond Inc. uses a 7% of sales method to determine its marketing promotion budget. Based on the financial statements below, how much did the company budget in 2019 for its promotion budget?
| Receivables | 70,000 |
| Other current liabilities | 28,000 |
|
| Inventories | 280,000 |
| Total CL | $70,000 | |
| Total CA | $364,000 |
| Long-term debt | 140,000 | |
| Net fixed assets | 126,000 |
| Common equity | 280,000 | |
| Total assets | $490,000 |
| Total liabilities and equity | $490,000 |
|
|
Sales | $280,000 |
|
|
| |
| Net income | 21,000 |
|
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| |
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Financial Finesse An Accounting Guide For Entrepreneurs
Authors: TaShara Ramese
1st Edition
1732510903, 978-1732510906
