Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can I recieve help on the cash payments budget for the coming year? Also, can I recieve help on the accounts payable balance at the

image text in transcribed

image text in transcribed

Can I recieve help on the cash payments budget for the coming year? Also, can I recieve help on the accounts payable balance at the end of the fourth quarter?

Charles Wilson is one of Texas's premiere party planners. She purchases a variety of supplies, such as plastic tableware, stemware. and decorations, throughout the year. Charles has prepared the following purchases budget for the coming year: Budgeted purchases 1st Quarter $380,000 2nd Quarter $440,000 3rd Quarter $455.000 4th Quarter $535,000 Historically, Charles has paid for 40% of her purchases in the quarter of purchase and 60% in the quarter following purchase. On December 31 of this year Charles had a $250,000 accounts payable balance. Prepare Charles's cash payments budget for the coming year. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.) 1st Quarter 2nd Quarter 3rd Quarter A/P from last year 380000 $ 440000 455000 1st quarter purchases 2nd quarter purchases 3rd quarter purchases 4th quarter purchases Total $ Calculate the accounts payable balance at the end of 4th Quarter. Accounts Payable balance at the end of 4th Quarter Charles Wilson is one of Texas's premiere party planners. She purchases a variety of supplies, such as plastic tableware, stemware, and decorations, throughout the year. Charles has prepared the following purchases budget for the coming year: 1st Quarter $380,000 Budgeted purchases 2nd Quarter $440,000 3rd Quarter $455.000 4th Quarter $535.000 Historically, Charles has paid for 40% of her purchases in the quarter of purchase and 60% in the quarter following purchase. On December 31 of this year Charles had a $250,000 accounts payable balance. Prepare Charles's cash payments budget for the coming year. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.) 2nd Quarter 3rd Quarter 4th Quarter Annual 440000 455000 $ 535000 $ 1810000 $ $ Calculate the accounts payable balance at the end of 4th Quarter Accounts Payable balance at the end of 4th Quarter $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Studies Of Company Records (RLE Accounting)1830-1974

Authors: J. R. Edwards

1st Edition

1138983306, 9781138983304

More Books

Students also viewed these Accounting questions