Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Tough Tillers Inc. makes tillers for small farms. Their inventory purchases budget is shown below: Sep purchases $240,000 Oct purchases $309,000 Nov purchases $224,000 25%

Tough Tillers Inc. makes tillers for small farms. Their inventory purchases budget is shown below:

Sep purchases $240,000

Oct purchases $309,000

Nov purchases $224,000

25% of purchases are paid in the month of the purchase. The remainder are paid in the next month. Operating expenses were $192,000 of which $50,000 was depreciation. Tough Tillers will declare and pay a dividend of $13,000.

What should they budget for cash payments in November?

Enter as a whole number, no commas and no dollar signs.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Bank Stability, Sovereign Debt And Derivatives

Authors: Author

1st Edition

113733214X, 9781137332141

More Books

Students also viewed these Accounting questions

Question

Explain how you would reduce stress at work.

Answered: 1 week ago