11Common stockRetained earningsTotal liabilities and stockholders' equity.The difference between cash receipts and cash disbursements for December would be:Multiple ChoiceOhapters 8 and 9OOO$50,063$66,750Saved$36,625$106,100822,500164,475$ 1,243,475 11Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:• Sales are budgeted at $210,000 for November, $190,000 for December, and $180,000 for JanuaryCollections are expected to be 50% in the month of sale and 50% in the month following the sale.The cost of goods sold is 55% of sales.The company would like to maintain ending merchandise inventories equal to 45% of the next month's cost of goods sold. Payment formerchandise is made in the month following the purchase.• Other monthly expenses to be paid in cash are $22,700.Monthly depreciation is $13,700.Ignore taxes.AssetsCashBalance SheetOctober 31Accounts receivable.Merchandise inventory.Property, plant and equipment, net of $574,500 accumulated depreciationTotal assetsLiabilities and Stockholders' EquityAccounts payableCommon stockRetained earnings.Total liabilities and stockholders' equity$ 22,50072,50051,9751,096, 500$ 1,243,475$ 256,500.822,500164, 475$ 1,243,475

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Description: 11Common stockRetained earningsTotal liabilities and stockholders' equity.The difference between cash receipts and cash disbursements for December would be:Multiple ChoiceOhapters 8 and 9OOO$50,063$66,750Saved$36,625$106,100822,500164,475$ 1,243,475

The budget is prepared to estimate the requirements for the period. The cash receipts schedule is…

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Business

Accounting

The difference between cash receipts and cash disbursements for December would be: Multiple Choice O$50.063 O $66.750 $36.625 O $106.300

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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11
Common stock
Retained earnings
Total liabilities and stockholders' equity.
The difference between cash receipts and cash disbursements for December would be:
Multiple Choice
O
hapters 8 and 9
O
O
O
$50,063
$66,750
Saved
$36,625
$106,100
822,500
164,475
$ 1,243,475

11
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:
• Sales are budgeted at $210,000 for November, $190,000 for December, and $180,000 for January
Collections are expected to be 50% in the month of sale and 50% in the month following the sale.
The cost of goods sold is 55% of sales.
The company would like to maintain ending merchandise inventories equal to 45% of the next month's cost of goods sold. Payment for
merchandise is made in the month following the purchase.
• Other monthly expenses to be paid in cash are $22,700.
Monthly depreciation is $13,700.
Ignore taxes.
Assets
Cash
Balance Sheet
October 31
Accounts receivable.
Merchandise inventory.
Property, plant and equipment, net of $574,500 accumulated depreciation
Total assets
Liabilities and Stockholders' Equity
Accounts payable
Common stock
Retained earnings.
Total liabilities and stockholders' equity
$ 22,500
72,500
51,975
1,096, 500
$ 1,243,475
$ 256,500.
822,500
164, 475
$ 1,243,475

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