The Game Zone sells computer and other electronic games. The store has budgeted sales for January Year 2 as indicated in thefollowing table. The company expects a 4% increase in sales for the month of February and a 3% increase for March.Required:a. Complete the sales budget by filling in the missing amounts.b. What is the amount of sales revenue the company will report on its pro forma income statement for the first quarter?Complete this question by entering your answers in the tabs below.Required A Required BComplete the sales budget by filling in the missing amounts.SalesJanuaryFebruaryCash sales$41,400Sales on account$81,400Total budgeted sales$122,800MarchRequired ARequired B >

Requirement A To calculate the sales budget for February and March, we'll use the given increase…

Answered: The Game Zone sells computer and other…

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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H1. Account
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please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Wellness Products, needs a cash budget for September. The following information is available: 1. The cash balance at the beginning of August is 9,000€. 2. Contribution margin is 50% (COGS are 50% of sales) 3. Actual sales for July and expected sales for August, September and October are as shown below. Some customers pay in cash (Cash sales) and others in account as described in the figure below. Customers that pay in account, make the payment the month after. 4. Purchases of inventory (company just resells what they buy) must be done so that the end of month inventory must cover 20% of next month sales. Initial inventory in July was 5.300€. 100% of a month's inventory purchases are paid for during the month of purchase. 1. Prepare a schedule of expected cash collections for August, September & October. 2. Prepare a merchandise purchases budget for July, August, and September. 3. Prepare a schedule of expected cash flow (cash in minus cash out) for August, and September. Cash Sales…
Please answer the last two parts if you have any restrictions
Evergreen Furniture, a retailing company, is preparing the cash budget for August. The following inventory information available: Estimated payments in August for purchases in August Estimated purchases for August Estimated cost of goods sold for August Estimated payments in August for purchases in July Estimated payments in August for purchases prior to July Inventories at beginning of August Required: What are the estimated cash disbursements in August? Estimated cash disbursements 70% $ 2,444,000 2,600,000 696,000 176,000 674,000
answer in text form please (without image),,,,,,,,,,,,,Answer all the rrquirements
Pelican Merchandising & More is a family-owned store. The business is now approaching theend of the year and is in the process of identifying its cash needs for the first quarter of the newyear. You are the management accountant of the entity and have been tasked to prepare the cashbudget for the business for the quarter ending March 31, 2022. Extracts from the sales and purchases budgets are as follows: An analysis of the records shows that trade receivables (accounts receivable) are settledaccording to the following credit pattern, in accordance with the credit terms 4/30, n90:55% in the month of sale35% in the first month following the sale8% in the second month following the saleThe remaining 2% is expected to be uncollectible Accounts payable are settled as follows, in accordance with the credit terms 2/30, n60:85% in the month in which the inventory is purchased15% in the following month The management of Pelican Merchandising has negotiated with a tenant to sublet…
I Rooney Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Rooney has budgeted sales as indicated in the following table. The company expects a 15 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 Rooney will report on its first quarter pro forma income statement. Complete this question by entering your answers in the tabs below. Required Required B Complete the sales budget by filling in the missing amounts. (Do not round intermediate calculations. Round final answers to two decimal places.) March Sales Cash sales Sales on account Total budgeted sales January February $45,000 115,000 160,000
Please help with question 1 and 2. Both the images are of the same continuing question
Use the following information for questions 5 & 6: Dilly Farm Supply is in a small town in the rural west. Data regarding the store's operations follow: • Sales are budgeted at $290,000 for November, $310,000 for December, and $210,000 for January. • Collections are expected to be 65% in the month of sale and 35% in the month following the sale. • The cost of goods sold is 80% of sales. • The company desires to have an ending merchandise inventory at the end of each month equal to 70% 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 $21,100. ● Monthly depreciation is $21,000. • Ignore taxes. Assets Cash A/R Inventory PP&E, net of $624,000 accumulated depreciation Total assets Liabilities and Stockholders' Equity A/P Common Stock Retained Earnings Total liabilities and stockholders' equity 5. 6. Balance Sheet October 31 a. b. Expected cash collections in December are: C. d. a. b.…
Yarbrough Company manufactures T-shirts printed with tourist destination logos. The following table shows sales prices and projected sales volume for the summer months: (Click the icon to view the data.) Prepare a sales budget for Yarbrough Company for the three months. - X Data Table Yarbrough Company Sales Budget June, July, and August Projected Sales in Units June July August Total T-Shirt Sizes Sales Price June July August Youth T-Shirts Youth $ 7 575 500 525 Adult-Regular T-Shirts Adult-regular 17 625 900 825 Adult-oversized 18 400 500 475 Adult-Oversized T-Shirts Total sales Print Done Activate Windows Enter any number in the edit fields and then click Check Answer.

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