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The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information: Sales at $484,000, all for cash Merchandise Inventory
The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information: Sales at $484,000, all for cash Merchandise Inventory on October 31 was $218,000 The cash balance November 1 was $27.500. Selling and administrative expenses are budgeted at $63,000 for November and are paid for in cash. Budgeted depreciation for November is $29,800. The planned merchandise inventory on November 30 is $250,000. The cost of goods sold is 75% of the selling price. . All purchases are paid for in cash .There is no interest expense or income tax expense. The budgeted cash disbursements for November are: $395,000 $426,000 $592.800 O $458,000
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