Perez Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Perez has budgetedsales as indicated in the following table. The company expects a 14 percent increase in sales per month for February and March. Theratio of cash sales to sales on account will remain stable from January through March.Requireda. Complete the sales budget by filling in the missing amounts.b. Determine the amount of sales revenue Perez will report on its first quarter pro forma income statement.Complete this question by entering your answers in the tabs below.Required ARequired BDetermine the amount of sales revenue Perez will report on its first quarter pro forma income statement. (Do not roundintermediate calculations. Round final answers to two decimal places.)Sales revenue< Required ARequired B> Perez Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Perez has budgetedsales as indicated in the following table. The company expects a 14 percent increase in sales per month for February and March. Theratio of cash sales to sales on account will remain stable from January through March.Requireda. Complete the sales budget by filling in the missing amounts.b. Determine the amount of sales revenue Perez will report on its first quarter pro forma income statement.Complete this question by entering your answers in the tabs below.Required ARequired BComplete the sales budget by filling in the missing amounts. (Do not round intermediate calculations. Round final answers totwo decimal places.)SalesJanuaryFebruaryMarchCash sales$49,000Sales on account111,000Total budgeted sales$ 160,000< Required ARequired B >

As sales will increase by 14% per month, both cash sales and credit sales will be increased.

Perez Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Perez has budgeted sales as indicated in the following table. The company expects a 14 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 Perez will report on its first quarter pro forma income statement.

Perez Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Perez has budgeted sales as indicated in the following table. The company expects a 14 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 Perez will report on its first quarter pro forma income statement.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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