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Mercy Sports Shop started operations on 1 st January, 2020. The firm sells sports shoes in shopping malls. The company expects a 20 per cent
- Mercy Sports Shop started operations on 1st January, 2020. The firm sells sports shoes in shopping malls. The company expects a 20 per cent increase in sales per month for November and December 2020. Mercy has budgeted sales as indicated in the following table:
| Sales | October | November | December | Total |
| Cash sales | Ksh 300,000/= |
|
|
|
| Sales on account | Ksh 900,000/= |
|
|
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| Total budget sales | Ksh 1,200,000/= |
|
|
|
Required:-
- Using excel complete the sales budget by filling in the missing amounts.
- Determine the amount of sales revenue that will appear on the pro-forma income statement for the companys fourth quarter 2020.
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Auditing Cases An Active Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
2nd Edition
0130674842, 978-0130674845
