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Hi, can you please answer the budgeted balance sheet at the end of december in this problem? thank you Textron Industrial Gas Corporation supplies acetylene
Hi, can you please answer the budgeted balance sheet at the end of december in this problem? thank you Textron Industrial Gas Corporation supplies acetylene and other compressed gases to industries. Data regarding the store's operations follows: Sales are budgeted at $390,000 for November; $370,000 for December; and $380,000 for January. Collections are expected to be 90% in the month of sale, 5% in the month following the sale, and 5% uncollectible. The cost of goods sold is 60% of sales. The company purchases 70% of its merchandise in the month prior to the month of sale and 30% in the month of sale. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $21,800. 6. Monthly depreciation is $18,000. Iqnore taxes. reyuireu: 1. Prepare a Schedule of Expected Cash Collections for November and December. 2. Prepare a Merchandise Purchases Budget for November and December. 3. Prepare Cash Budgets for November and December. 4. Prepare Budgeted Income Statements for November and December. 5. Prepare a Budgeted Balance Sheet for the end of December
Hi, can you please answer the budgeted balance sheet at the end of december in this problem? thank you
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