Kent Company has a sales budget for next month of $1,000,000. Cost of goods sold is expected to be 25 percent of sales. All goods are paid for in the month following purchase. The beginning inventory of merchandise is $50,000, and an ending inventory of $64,000 is desired. Beginning accounts payable is $160,000. For Kent Company, the ending accounts payable should be:

Kent Company has a sales budget for next month of $1,000,000. Cost of goods sold is expected to be 25 percent of sales. All goods are paid for in the month following purchase. The beginning inventory of merchandise is $50,000, and an ending inventory of $64,000 is desired. Beginning accounts payable is $160,000. For Kent Company, the ending accounts payable should be:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

how do you calculat mpg in excel?
All blanks need to be filled please and thank you, it's incomplete as of now.
Can you use excel to do the data please.
Is there an excel table showing how to use functions?
How do you make a two-dimensional columnar chart in excel?
subject:accunting information system. Q: explainDocument flowcharts and give two examples.
HI Exam A "Queue" is also known as what? a. Linked list b. LIFO C. FIFO d. Stack
Read and interpret abalance sheet.
Does a user view always require multiple tables to support it? Explain.
How do you access the Power Query interface?
Write a note on IFRS.