Baird Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Baird has budgeted sales as indicated in the following table. The company expects a 12 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Baird will report on its first quarter pro forma income statement. Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. Note: Do not round intermediate calculations. Round final answers to two decimal places. Sales Cash sales Sales on account Total budgeted sales $ January 48,000 February 111,000 $ 159,000 March
Baird Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Baird has budgeted sales as indicated in the following table. The company expects a 12 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Baird will report on its first quarter pro forma income statement. Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. Note: Do not round intermediate calculations. Round final answers to two decimal places. Sales Cash sales Sales on account Total budgeted sales $ January 48,000 February 111,000 $ 159,000 March
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Baird Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Baird has budgeted
sales as indicated in the following table. The company expects a 12 percent increase in sales per month for February and March. The
ratio of cash sales to sales on account will remain stable from January through March.
Required
a. Complete the sales budget by filling in the missing amounts.
b. Determine the amount of sales revenue Baird will report on its first quarter pro forma income statement.
Complete this question by entering your answers in the tabs below.
Required A
Required B
Complete the sales budget by filling in the missing amounts.
Note: Do not round intermediate calculations. Round final answers to two decimal places.
Sales
Cash sales
Sales on account
Total budgeted sales
$
January
48,000
February
111,000
$
159,000
March
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