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Hello, This is the 4 th time i post the same problem and i get the wrong answers, please fill out the missing numbers i
Hello, This is the th time i post the same problem and i get the wrong answers, please fill out the missing numbers i have, make it a table so it can be clear and understandable.
a The companys single product is purchased for $ per unit and resold for $ per unit. The inventory level of units on December is more than managements desired level, which is of the next months budgeted sales units. Budgeted sales are January, units; February, units; March, units; and April, units. All sales are on credit.
b Cash receipts from sales are budgeted as follows: January, $; February, $; March, $
c Cash payments for merchandise purchases are budgeted as follows: January, $; February, $; March, $
d Sales commissions equal to of sales dollars are paid each month. Sales salaries excluding commissions are $ per month.
e General and administrative salaries are $ per month. Maintenance expense equals $ per month and is paid in cash.
f New equipment purchases are budgeted as follows: January, $; February, $; and March, $ Budgeted depreciation expense is January, $ ; February, $; and March, $
g The company budgets a land purchase at the end of March at a cost of $ which will be paid with cash on the last day of the month.
h The company has an agreement with its bank to obtain additional loans as needed. The interest rate is per month and interest is paid at each monthend based on the beginningmonth balance. Partial or full payments on these loans are made on the last day of the month. The company maintains a minimum ending cash balance of $ at the end of each month.
i The income tax rate for the company is Income taxes on the first quarters income will not be paid until April
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