Reference: Survey of Accounting 6th edition Book

These are practice questions with but I need help learning the problems

Budgeted sales for the month of April are shown in the following table: Sales April May June Cash Sales in 3'58 Sales on Account $1JB5B The company expects a 10% increase in sales per month for May and June. The amount of sales revenues that would appear on the company's 2nd quarter proforma income statement would be Budgeted sales for the month of April are shown in the following table: Sales April May June Cash Sales $ 7'38 Sales on Account: $1,638 The company expects a 20% increase in sales per month for May and June. Also, the company expects to collect cash from receivables in the month following the month in which the receivables are established. The amount of accounts receivable appearing on the pro forma balance sheet would be Budgeted sales for the month of April are shown in the following table: Sales April May June Cash Sales $ I'BB Sales on Account $1,838 The company expects a 20% increase in sales per month for May and June. Also, the company expects to collect cash from receivables in the month following the month in which the receivables are established. The total amount of cash collected in May would be Star Company projected unit credit sales for the last four months of the year as shown below: September 4,338 October 4, 266 November 5, 168 December 6, 536 [ The company's past records show collection of credit sales as 50% in the month of sale and the balance in the following month. If inventory units are sold for $26, the total cash collections on receivables in November will be A sales budget has been prepared for April. Management wants the amount of ending inventory each month to be equal to 10% of that month's cost of goods sold. Cost of goods sold for April is projected at $69,000. Ending inventory at the end of March is expected to be $13,800. Based on this information, what would the amount of purchases be for April? Metro, Inc. sells backpacks. The Company's accountant is preparing the purchases budget for the rst quarter operations. Metro maintains ending inventory at 10% of the following month's expected cost of goods sold. Expected cost of goods sold for April is $86,000. All purchases are made on account with 20% of accounts paid in the month of purchase and the remaining 80% paid in the month following the month of purchase. Sales January February March Budgeted cost of goods sold $481989 $66,988 $68,368 Plus: Desired ending inventory GJEBB Inventory needed 54JEBB Less: Beginning inventory (91693) Required purchases $451333 Based on this information the total cash paid in March to settle accounts payable is Metro, Inc. sells backpacks. The Company's accountant is preparing the purchases budget for the first quarter operations. Metro maintains ending inventory at 10% of the following month's expected cost of goods sold. Expected cost of goods sold for April is $80,000. Sales January February March Budgeted cost of goods sold $45, 000 $60, 000 $65, 000 Plus: Desired ending inventory 6,000 Inventory needed 51,000 Less: Beginning inventory (9,000) Required purchases $42, 000 Based on this information the total amount of expected purchases for February isMetro, Inc. sells backpacks. The Company's accountarlt is preparing the purchases budget for the rst quarter operations. Metro maintains ending inventory at 10% of the following month's expected cost of goods sold. Expected cost of goods sold for April is $89,000. All purchases are made on account with 20% of accounts paid in the month of purchase and the remaining 80% paid in the month following the month of purchase. Sales January Februaryr March Budgeted cost of goods sold $49,588 $69,888 $69,588 Plus: Desired ending inventory 6,988 Inventoryr needed 56,488 Less: Beginning inventory (9,988) Required purchases $46,533 Based on this information the amount of accounts payable appearing on the March 31 pro forma balance sheet is