{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T08:12:01-04:00", "answer_date": "2024-05-26 08:12:01", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1729570", "url": "\/study-help\/questions\/bramble-corporation-is-a-small-wholesaler-of-gourmet-food-products-1729570", "question_creation_date_js": "2024-05-26T08:12:01-04:00", "question_creation_date": "May 26, 2024 08:12 AM", "meta_title": "[Solved] Bramble Corporation is a small wholesaler | SolutionInn", "meta_description": "Answer of - Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sale | SolutionInn", "meta_keywords": "bramble,corporation,small,wholesaler,gourmet,food,products,data,store,s,operations,follow", "question_title_h1": " Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $290,000 for November, $270,000", "question_title": " Bramble Corporation is a small wholesaler of gourmet food products. Data", "question_title_for_js_snippet": "Bramble Corporation is a small wholesaler of gourmet food products Data regarding the store's operations follow Sales are budgeted at $290,000 for November, $270,000 for December, and $260,000 for January Collections are expected to be 40 in the month of sale and 60 in the month following the sale The cost of goods sold is 75 of sales The company would like to maintain ending merchandise inventories equal to 65 of the next month's cost of goods sold Payment for merchandise is made in the month following the purchase Other monthly expenses to be paid in cash are $23 500 Monthly depreciation is $14,500 Ignore taxes Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $573,700 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity December cash disbursements for merchandise purchases would be $ 21,700 71,700 141,375 1,095,700 $ 1,330,475 $ 255,700 821,700 253,075 $ 1,330,475", "question_description": "\"image\"image", "transcribed_text": "Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $290,000 for November, $270,000 for December, and $260,000 for January .Collections are expected to be 40% in the month of sale and 60% in the month following the sale. The cost of goods sold is 75% of sales. The company would like to maintain ending merchandise inventories equal to 65% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $23.500. Monthly depreciation is $14,500. Ignore taxes. Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $573,700 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity December cash disbursements for merchandise purchases would be: $ 21,700 71,700 141,375 1,095,700 $ 1,330,475 $ 255,700 821,700 253,075 $ 1,330,475", "related_book": { "title": "Managerial Accounting", "isbn": "978-0073379616, 73379611, 978-0697789938", "edition": "13th Edition", "authors": "Ray H. Garrison, Eric W. Noreen, Peter C. Brewer", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/25.jpg", "uri": "\/textbooks\/managerial-accounting-13th-edition-25", "see_more_uri": "" }, "free_related_book": { "isbn": "045122650X", "uri": "\/textbooks\/hold-tight-a-suspense-thriller-1st-edition-978-0451226501-101590", "name": "Hold Tight A Suspense Thriller", "edition": "" }, "question_posted": "2024-05-26 08:12:01", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/imagine-you-are-a-member-of-your-local-school-board-384781", "description": "Imagine you are a member of your local school board. 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