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Wheeling Company is a merchandeser that provided a balance sheet as of September 30 as shown below Ine company as in the frocess of preparing

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Wheeling Company is a merchandeser that provided a balance sheet as of September 30 as shown below Ine company as in the frocess of preparing a budget for October and has assembled the following data. 1. Swles are budgoted at $540000 for Octobier and $550.000 for November. Or these sales. 35% will be for cash, the remainder will be credir sales. Forty percent of a month's credit sales are collected in the month the sales are made, and the remaining 60% is colected in the following month. All of the September 30 accounts recetvable will be collected in Octobet 2. The budgeted cost of goods sold is always 45% of sales and the ending merchandise inventory is always 305 of the following month's cost of goods sold 3. A merchandse purchases are on account. Thity percent of af purchases are poid for in the month of purchase and 705 are paid for in the following monith. All of the September 30 accounts payable to suppliers will be paid during October. 4. Selling and administrative expenses for October are budgeted at $93.800, exclusive of depreciation. These expenses will be paid in cath. Deprecustion is budgeted at 52.430 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) 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 Octobet. 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 budoeted cash collections for October. 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) 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 bolance sheet at October 31 . Complete this question by entering your answers in the tabs below. Prepare the budgeted merchandise purchases for October. 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) 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 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. 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)20% of all purchase are paid for in the month of purchase and 80% are paid for in the following month. Using these new assumptions, calculate or prep 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 enterine your answers in the tabs below. Prepare the budgeted net operating income for October. Complete this question by entering your answers in the tabs below. Prepare 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 cash collections 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 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. Assume the following changes to the underlying budgeting assumptions: 11) 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 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. 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 cash disbursements for 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 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. Budpeted cash disbursements for merchandise purchases for Octobett 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 net operating income for the month of 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 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. Prepare a budgeted balance sheet at October 31. 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 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

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