Century 21 Accounting General Journal
11th Edition
ISBN:9781337680059
Author:Gilbertson
Publisher:Gilbertson
Chapter20: Accounting For Inventory
Section: Chapter Questions
Problem 3AP
Related questions
Question
![The following data were obtained from the financial records of Sonicbrush, Inc., for M arch:
Estimated sales
$330,000
$179,431
Purchases
Ending inventory
Administrative salaries per month
$ 70,200
Marketing expense
Sales commissions
Rent expense per month
$ 8,400
Depreciation expense per month
$
1,200
$ 2,800
Utilities per month
Taxes
15%***
*of next month's sales
**of sales
***of income before taxes
Sales are expected to increase each month by 15%. Prepare a budgeted income statement.
15%*
3%**
4%**](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9084670e-7a79-46b9-9a79-4153dd4ff702%2F4db18119-20cb-43b3-8793-dd5d1f99b44a%2Ffirf2vh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following data were obtained from the financial records of Sonicbrush, Inc., for M arch:
Estimated sales
$330,000
$179,431
Purchases
Ending inventory
Administrative salaries per month
$ 70,200
Marketing expense
Sales commissions
Rent expense per month
$ 8,400
Depreciation expense per month
$
1,200
$ 2,800
Utilities per month
Taxes
15%***
*of next month's sales
**of sales
***of income before taxes
Sales are expected to increase each month by 15%. Prepare a budgeted income statement.
15%*
3%**
4%**
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