Question
Dakota Williams is one of Texas's premiere party planners. She purchases a variety of supplies, such as plastic tableware, stemware, and decorations, throughout the year.
Dakota Williams is one of Texas's premiere party planners. She purchases a variety of supplies, such as plastic tableware, stemware, and decorations, throughout the year. Dakota has prepared the following purchases budget for the coming year:
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||||
Budgeted purchases | $328,000 | $408,000 | $465,000 | $540,000 |
Historically, Dakota has paid for 27 percent of her purchases in the quarter of purchase and 73 percent in the quarter following purchase. On December 31 of this year Dakota had a $335,400 accounts payable balance. Prepare Dakota'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 | 4th Quarter | Annual | |||||||
A/P from last year | $ | $ | $ | $ | $ | ||||||
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 |
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