Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: - Sales are budceter at $310,000 for November, $290,000

image text in transcribed
image text in transcribed
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: - Sales are budceter at $310,000 for November, $290,000 for December, and $280,000 for January. - Collections are expected to be 60% in the month of sale and 40% in the month following the sale. - The cost of goods sold is 65% of sales. - The company would like to maintain ending merchandise inventories equal to 55% 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 $23,700. - Monthly depreciation is $14700. - Ignore taxes. The diflerence between cash receipts and cash disbursements for December would be: The difference between cash receipts and cash disbursements for December would be. Muinple Choice $79950 $122100 $50963 $44.625

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions