Budgeted net income for 2009 is P 19,500. Included in the budgeted income statement is depreciation of P 12,500. The changes in the trade current accounts are: Accounts Receivable (P 5,000) Merchandise Inventory P 7,000 Accounts Payable P 6,000 Accrued Expenses (P 2,000) Budgeted cash inflow (outflow) from operating activities must be a. P 38,000 b. (P 1,000) c. P 34,000 d. (P3,000)

Budgeted net income for 2009 is P 19,500. Included in the budgeted income statement is depreciation of P 12,500. The changes in the trade current accounts are: Accounts Receivable (P 5,000) Merchandise Inventory P 7,000 Accounts Payable P 6,000 Accrued Expenses (P 2,000) Budgeted cash inflow (outflow) from operating activities must be a. P 38,000 b. (P 1,000) c. P 34,000 d. (P3,000)

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter7: The Master Budget And Flexible Budgeting

Section: Chapter Questions

Problem 5P: Selling and administrative expense budget and budgeted income statement Budgeted selling and...

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