The company is in the process of proparing a budpet for October and has assembind the followng data: 1 Sales are budgeted at $300,000 for October and $310,000 for November, Of these sales, 35\% wa be for castc the remainder will be credit saies. Forty percent of a month's credit sales are collected in the month the sales are made, and the remsining 60% is collected in the following month. All of the September 30 accounts recelvable will be collected in October 2. The budgeted cost of goods sold is olways 45% of snles and the ending merchandise inventory is always 30% of the following month's cost of goods sold. 3. All merchandise purchases are on account. Thirty percent of all purchases are paid for in the month of purchase and 70% are paid for in the following month. All of the September 30 occounts payoble to suppliers will be patd duting October. 4. Seling and administrative expenses for October are budgeted at $86,800, exclusive of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $2,790 for the month. Required: 1. Using the information provided, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for Octobet. d. The budgeted net operating income for Octobot. e. A budgeted balance sheet at October 3 . 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods. sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October d. Net operating income for the month of October. e. A budgeted balance sheet at October 31 . Complete this question by entering your answers in the tabs below. Prepare the budgeted merchandise purchases for October. Assume that 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise invente 5 always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purd ind 80% are paid for in the following month. 1. Sales are budgeted at $300,000 for October and $310,000 for November. Of these sales, 35% will be for cash; the remainder will be credit sales. Forty percent of a month's credit sales are collected in the month the sales are made, and the remaining 60% is collected in the following month. All of the September 30 accounts recelvable will be collected in October. 2. The budgeted cost of goods sold is always 45% of sales and the ending merchandise inventory is always 30% of the following month's cost of goods sold. 3. All merchandise purchases are on account. Thirty percent of all purchases are paid for in the month of purchase and 70% are paid for in the following month. All of the September 30 accounts payable to suppliers will be paid during October: 4. Selling and administrative expenses for October are budgeted at $86,800, exclusive of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $2,790 for the month. Required: 1. Using the information provided, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31 , 2. Assume the following changes to the uhderlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31. Complete this question by entering your answers in the tabs below. Prepare the budgeted cash collections for October. Assume that 50% of a month's credit sales are collected in the month sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is alway 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and are paid for in the following month. The company is in the process of preparing a budpet for October and has assombled the following data: 1. Sales are budgeted at $300,000 for October and $310.000 for November. Of these sales, 35\% war be for cash; the remainder will be credit sales. Forty percent of a month's credit sales are collected in the month the sales ate made, and the remaining 60% is collected in the following month. All of the September 30 accounts receivable will be collected in October, 2. The budgeted cost of goods sold is always 45% of sales and the ending merchandise inventory is always 30% of the following month's cost of goods sold. 3. All merchandise purchases are on account. Thirty percent of all purchases are paid for in the month of purchase and 70% are paid for in the following month. All of the September 30 accounts payable to suppliers will be paid during October. 4. Selling and administrative expenses for October are budgeted at $6,800, exclusive of depreciation. These expenses will be poid in cash. Depreciation is budgeted at $2,790 for the month. Required: 1. Using the information prowided, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October c. The budgeted cash disbursements for merchandise purchases for October d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31 . 2. Assume the following changes to the underlying budgeting assumptions: 11) 50% of o month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31 . Complete this question by entering your answers in the tabs below. Prepare the budgeted cash disbursements for merchandise purchases for October. Antriesers 1. Sales are budgeted at $300,000 for October and $310,000 for November, Of these sales, 35x, will be for cash: the remainder will be credit sales. Forty percent of a month's credit sales are collected in the month the sales are made, and the remaining 60% is colfected in the following month. All of the September 30 accounts receivable will be collected in October. 2. The budgeted cost of goods sold is always 45% of sales and the ending merchanclise inventory is ahways 30% of the following month's cost of goods sold. 3. All merchandise purchases are on account. Thirty percent of all purchases are paid for in the month of purchase and 70% are paid for in the following month. All of the September 30 accounts payable to suppliers will be paid during October. 4. Selling and administrative expenses for October are budgeted at $86,800, exclusive of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $2,790 for the month. Required: 1. Using the information provided, calculate or prepare the following: a. The budgeted cash collections for October b. The budgeted merchandise purchases for October: c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31. 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is coliected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31 . Complete this question by entering your answers in the tabs below. Prepare the budgeted cash disbursements for merchandise purchases for October. Assume that 50% of a month's credit si are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid f. the month of purchase and 80% are paid for in the following month. The company is in the process of prepating a budget for October and has assembled the following data 1. Sales are budgeted at $300,000 for October and $310,000 tor November. Of these sales, 35% wit be for cash. the remainder will be credit sales. Forty percent of a month's credit sales are collected in the month the sales are mado, and the remaining 60% is collected in the following month. Alt of the September 30 eccounts receivable will be collected in October 2. The budgoted cost of goods sold is always 45* of sales and the ending merchandise inventory as ahways 30% of the foliowing month's cost of goods sold. 3. All merchandise purchases ore or account. Thirty percent of all purchases are paid for in the month of purchase and 706 are paid for in the following month. All of the September 30 accounts payable to suppliers will be paid during October. 4. Selling and administrative expenses for October are budgeted at $86,800, exclusive of depireciation. These expenses will be paid in cosh. Depreciation is budgeted at $2,790 for the month. Required: 1. Using the information provided, caiculate or prepare the following a. The budgeted cash collections for October, b. The budgeted merchandise purchases for October c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31 . 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the folfowing month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31 . Complete this question by entering your answers in the tabs below. Prepare the net operating income for the month of October. Assume that 50% of a month's credit sales are collected in thi month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventc is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purd and 80% are paid for in the following month. Show les: a. The budgeted cash collections for October. b. The budgeted merchandse purchases for October. c. The budgeted cash disbursements for morchandise purchases for October d. The budpeted net operating income for October- e. A budgeted balance sheet at October 31 2. Astame the following changes to the underlying budgeting assumptions. (i) 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are poid for in the month of purchase and 80% are paid for in the following month, Using these new assumptions, calculate or prepare the following: a. The budgeted cosh coliections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Not operating income for the month of October. e. A budgeted batance sheet at October 31 . Complete this question by enfering your answers in the tabs below. Prepare a budgeted balance sheet at October 31. Assume that 50% of a month's credit sales are collected in the month sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is alwa 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and re pald for in the following month. the tollowno months eost of goods sotkt 3. Al merchandise purchases ore on account. Thurty percent of all purchases are poid for in the month of purchase And 705 are pald for fin the following menth All of the September 30 accounts payrable to suppliers wall be paid diring October. 4. Selling and administrative expenses for October are budgeted at $96,800, excluswe of depreciation. These expenses wit be paid in cash. Depreciation is budgeted at $2.790 for the month. Required: 1. Using the information provided, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31 . 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 208 of all purchases are paid for in the month of purchase and 805 are paid for in the following month. Using these now assumptions, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October d. Net operating income for the month of October. e. A budgeted balance sheet at October 31. Complete this question by entering your answers in the tabs below. Prepare a budgeted balance sheet at October 31 . 1. Sales are budgeted it $300,000 for, October and $310,000 for November Of these sales, 35% will be for castc the remeinder wil be credit sales. Forty percent of a month's credit sales are collected in the month the sales are made, and the femaining 60% is collected in the following month. All of the September 30 accounts receivable will be collected in October 2. The budgeted cost of goods soid is shways 45% of sales and the ending merchandise imventory is always 30 ss of the following month's cost of goods sold 3. All merchandise purchases are on account. Thirty percent of all purchases are paid for in the month of purchase and 70% are paid for in the foliowing month. All of the September 30 accounts payable to suppliers will be poid during October. 4. Selling and administrative expenses for October are budgeted at $86,800, exclustve of depreciation These expenses will be paid in cash. Depreciation is budgeted at $2,790 for the month. Required: 1 Using the information provided, calculate or prepore the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted baiance sheet at October 31 . 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are coliected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted batance sheet at October 31 . Complete this question by entering your answers in the tabs below. Prepare the budgeted cash collections for October. The company is in the process of preparing a budget for October and has assembled the following dota: 1 Sales are budgeted at $300,000 for October and $310,000 for November, Or these sales, 35\% will be for cash; the remainder will be credit sales. Forty percent of a month's credit sales are collected in the month the sales are made, and the remaining 60% is collected in the following month. All of the September 30 accounts receivable will be collected in October, 2. The budgeted cost of goods sold is always 45% of sales and the ending merchandise inventory is always 30% of the following month's cost of goods sold. 3. All merchandise purchases are on account. Thirty percent of all purchases are paid for in the month of purchase and 70% are paid for in the following month. All of the September 30 accounts payable to suppliers will be paid during October. 4. Selling and administrative expenses for October are budigeted at $86,800, exclusive of depreciation. These. expenses will be paid in cash. Depreciation is budgeted at $2,790 for the month. Required: 1. Using the information provided, calculate of prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31 . 2. Assume the following changes to the underlying budgeting assumptions: 1) 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the foliowing month, (2) the ending merchandise inventory is always 10% of the following month's cost of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31 . Complete this question by entering your answers in the tabs below. Prepare the budgeted net operating income for October. hrmes The company is in the process of preparing a budget for October and has assembled the following data: 1. Sales are budgeted at $300,000 for October and $310,000 for November. Of these 5ales,35% will be for cash: the remainder will be credit sales. Forty percent of a month's credit sales are collected in the month the sales are made, and the remaining 60% is collected in the following month. All of the September 30 accounts receivable will be collected in October. 2. The budgeted cost of goods sold is always 45% of sales and the ending merchandise inventory is always 30% of the following month's cost of goods sold. 3. All merchandise purchases are on account. Thirty percent of all purchases are paid for in the month of purchase and 70% are paid for in the following month. All of the September 30 accounts payable to suppliers will be paid during October. 4. Selling and administrative expenses for October are budgeted at $86,800, exclusive of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $2.790 for the month. Required: 1. Using the information provided, caiculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. The budgeted net operating income for October. e. A budgeted balance sheet at October 31. 2. Assume the following changes to the underlying budgeting assumptions: (1) 50% of a month's credit sales are collected in the month the sales are made and the remaining 50% is collected in the following month, (2) the ending merchandise inventory is always 10% of the following month's cost, of goods sold, and (3) 20% of all purchases are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate or prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October. d. Net operating income for the month of October. e. A budgeted balance sheet at October 31. Complete this question by entering your answers in the tabs below. Prepare the budgeted merchandise purchases for October