Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lambert Company purchased $140 of goods in September and expects to purchase $130 of goods in October. Lambert typically pays for 20% of purchases in

image text in transcribed
Lambert Company purchased $140 of goods in September and expects to purchase $130 of goods in October. Lambert typically pays for 20% of purchases in the month of purchase and 80% the following month. Every month, Lambert must make the following payments: Rent $5 Wages $14 Utilities $3 Telephone $0.4 Loan on equipment $1.2 In mid-October, Lambert expects to buy a new computer for $4.5 using the company credit card. Typically the credit card bill is paid in full in the following month. September credit card purchases totaled $7. What is the total cash disbursements expected by Lambert during the month of October? 5172.1 $55.6 $1686 $167.6

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_2

Step: 3

blur-text-image_3

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

Fundamentals Of Cost Accounting

Authors: William Lanen

7th Edition

1264100841, 9781264100842

More Books

Students also viewed these Accounting questions

Question

What applied experiences do you have? (For Applied Programs Only)

Answered: 1 week ago