Question
Question 4 Black Inc.'s budgeted net income for the second quarter is $35,000. Planned equipment purchases are $25,000 in April and $5,000 in June. Dividends
Question 4
Black Inc.'s budgeted net income for the second quarter is $35,000. Planned equipment purchases are $25,000 in April and $5,000 in June. Dividends will be declared and paid in June in the amount of $8,000. If Retained Earnings was budgeted to be $236,000 as of March 31, what will budgeted Retained Earnings be on June 30th?
Do not enter the dollar sign or commas in your answer.
Question 1:
Barlin Company collects its revenue from sales according to the following pattern:
$ | |
Cash sales (% of Total Sales paid for in cash) | 10% |
Credit sales (% of Total Sales on credit): | 90% |
% of credit sales collected during the month of sale | 30% |
% of credit sales collected during the month following the month of sale | 50% |
% of credit sales collected during the second month following the month of sale | 15% |
If Sales Revenue was budgeted to be $30,000 in July, $50,000 in August and $35,000 in September, calculate the Accounts Receivable balance at the end of the third quarter.
Do not use dollar signs or commas in your answer.
30150
27225
25750
32500
33075
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