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plases show me the detailed work to solve each question Larch sells baked goods products in Omaha, NE. Data regarding the store's operations follow: Sales
plases show me the detailed work to solve each question
Larch sells baked goods products in Omaha, NE. Data regarding the store's operations follow: Sales budget Collection schedule Month of sale 70% Next month 27% Uncollectible 3% The cost of goods sold is 60% of sales. Other monthly expenses to be paid in cash are $25,000. Monthly depreciation is $15,000. Inventory purchase policy is to maintain 20% of the next month's sales as the ending inventory 60% of the purchase is paid for in the month of purchase, the remainder is paid in the following month. Larch declared a special dividend of $10,000 on November 5 to be paid on Dec. 15. Larch's Account Payable balance as of November 1 is $63,000. Net income for November would be: A. $108,000 B. $98,000 C. $123,000 D. $120,000 E. None of the above The total cash disbursement for inventory purchases in December would be: A. 138, 240 B. $ 230, 400 C. $ 233, 040 D. 237,000 E. None of the above What is the total amount of cash disbursements in December? Contrary to your answer for Q17, assume the disbursement for purchases in December is $250,000. A. 250,000 B. $ 215,000 C. $ 225,000 D. $ 200,000 E. None of the above
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