Hi!

I made got some practice exercises (4) from my Accounting book and I would like help better understanding them so I can prepare for my class finals.

Thank you in advance!

Practicing how to prepare a sales budget: I have a company, which expects to start operations on January 1, 2021, and it will sell tablets and accessories in shopping centers. My company has budgeted sales as indicated in the following table. The company expects a 10 percent (%) increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. SALES JANUARY FEBRUARY MARCH Cash Sales $60,000 Sales on Account 90,000 Total Budgeted Sales $150,000 Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Cambridge will report on its first quarter pro forma income statement.Practicing how to prepare a sales budget with different assumptions: My other company, which has three regions, is preparing its sales budget. Each division expects a different growth rate because economic conditions vary in different regions of the country. The growth expectations per quarter are 4 percent for East Region, 2 percent for West Region, and 9 percent for Metro Region. DIVISION 1ST QUARTER 2 ND QUARTER 3RD QUARTER 4TH QUARTER EAST REGION $100,000 WEST REGION $300,000 METRO REGION $500,000 Required a. Complete the sales budget by filling in the missing amounts. (Round figures to the nearest dollar.) b. Determine the amount of sales revenue that the company will report on its quarterly pro forma income statements.Practicing how to determine cash receipts from accounts receivable: Janice's Dress Delivery operates a mail-order business that sells clothes designed for frequent travelers. It had sales of $560,000 in December. Because Janice's Dress Delivery is in the mail- order business, all sales are made on account. The company expects a 30 percent drop in sales for January. The balance in the Accounts Receivable account on December 31 was $96,400 and is budgeted to be $73,600 as of January 31. Janice's Dress Delivery normally collects accounts receivable in the month following the month of sale. Required a. Determine the amount of cash Janice's Dress Delivery expects to collect from accounts receivable during January. b. Is it reasonable to assume that sales will decline in January for this type of business? Why or why not? Practing how to prepare an inventory purchases budget: Naftel Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purchases budget. Naftel's policy is to maintain an ending inventory balance equal to 10 percent of the following month's cost of goods sold. April's budgeted cost of goods sold is $75,000. January February March Budgeted cost of goods sold $50,000 $54,000 $60,000 Plus: Desired ending inventory 5,400 ? ? Inventory needed 55,400 Less: Beginning inventory 5,000 ? Required purchases (on account) $50,400 Required a. Complete the inventory purchases budget by filling in the missing amounts. b. Determine the amount of cost of goods sold the company will report on its first quarter pro forma income statement c. Determine the amount of ending inventory the company will report on its pro forma balance sheet at the end of the first quarter