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i need help with May bar and D question Required A Required B Required C Required D Prepare a schedule of cash payments for inventory
i need help with May bar and D question
Required A Required B Required C Required D Prepare a schedule of cash payments for inventory for April, May, and June. (Round your final answers to the dollar.) Schedule of Cash Payments Payment of current accounts payable Payment of previous accounts payable Total budgeted payments for inventory April 52,390 $ 14,800 67,190 $ May 50,100 $ 28,210 78,310 $ June 60,385 29,225 89,610 $ $ Required A Required B Required C Required D Determine the balance in accounts payable Perez will report on the end-of-qu Accounts payable $ 37,160 Perez, Inc sells fireworks. The company's markeying director developed the following cost of goods sold budget for April, May, June, and July July Budgeted cost of goods sold $72,000 $82,600 $92,000 $98,00 April May June Perez had a beginning inventory balance of $3,700 on April 1 and a beginning balance in accounts payable of $14,800. The company desires to maintain an ending inventory balance equal to 15 percent of the next period's cost of goods sold, Perez makes all purchases on account. The company pays 65 percent of accounts payable in the month of purchase and the remaining 35 percent in the month following purchase Required a. Prepare an inventory purchases budget for April, May, and June b. Determine the amount of ending inventory Perez will report on the end of quarter pro forma balance sheet c. Prepare a schedule of cash payments for inventory for April, May, and June d. Determine the balance in accounts payable Perez will report on the end-of-quarter pro forma balance sheet Step by Step Solution
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