Waterway Industries reported the following information for 2022: October November December Budgeted sales $500000 $480000 $540000 Budgeted purchases $330000 $271000 $343000 • All sales are on credit. Customer amounts on account are collected 50% in the month of sale and 50% in the following month. Cost of goods sold is 35% of sales. Purchases are paid for 60% in the month of acquisition and 40% in the following month. Accounts payable is used only for inventory acquisitions. What is the budgeted balance for Accounts Payable at October 31, 2022? O $108400 O $132000 O $198000 O $78000

Waterway Industries reported the following information for 2022: October November December Budgeted sales $500000 $480000 $540000 Budgeted purchases $330000 $271000 $343000 • All sales are on credit. Customer amounts on account are collected 50% in the month of sale and 50% in the following month. Cost of goods sold is 35% of sales. Purchases are paid for 60% in the month of acquisition and 40% in the following month. Accounts payable is used only for inventory acquisitions. What is the budgeted balance for Accounts Payable at October 31, 2022? O $108400 O $132000 O $198000 O $78000

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

10078+0987=
Fans Company has two service departments-product design and engineering support, and two production departments - assembly and finishing. The distribution of each service department's efforts to the other departments is shown below: Design SERVICE DEPARTMENT Product Design 0% Engineering Support 20% The direct operating costs of the departments (including both variable and fixed costs) were as follows: Product Design Engineering Support Assembly Finishing Multiple Choice $1,863,265 SERVICES PROVIDED TO Support 10% 0% $623,878 $1,036,122 Assembly 30% 45% $100,000 $ 200,000 $540,000 $ 820,000 The total cost accumulated in the assembly department using the reciprocal method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar) Finishing 60% 35% D
On this question may you please explain how it came to 41880 instead of 41860
Sh6 Please help me Thankyou
Q7
Other than 1040, what other forms need to be completed?
E10.15
Explain IAS39
Hh1.
That is not a possible solution. The possible anwsers are --> a. 122329.9877 b. 127159.8450 c. 122132.1253 d. 126907.4914 Please explain
V5. Explain 5 reasons that can help you with the theory of descriptive decision-making during your undergraduate studies
Sh11