ACC 202 Week 3 Assignment 1 E14-2, E14-7, E14-13 & E14-15

Apr 3rd, 2015
Studypool Tutor
Price: $10 USD

Tutor description

ACC 202 Week 3 Assignment 1 E14-2, E14-7, E14-13 & E14-15

Word Count: 400
Showing Page: 1/3
Exercise 14-2 a.Sales BudgetJanuaryFebruaryMarchCash sales$ 40,000 $ 44,000 $ 48,400 Sales on account100,000 110,000 121,000 Total budgeted sales$140,000 $154,000 $169,400 b.The amount of sales revenue appearing on the 1st quarter income statement is the sum of the monthly amounts ($140,000 + $154,000 + $169,400 = $463,400).Exercise 14-7a.Inventory Purchases BudgetJanuaryFebruaryMarchBudgeted cost of goods sold$50,000 $ 54,000 $60,000 Plus: Desired ending inventory5,400 6,000 7,500 Total inventory needed55,400 60,000 67,500 Less: Beginning inventory5,000 5,400 6,000 Required purchases (on account)$50,400 $ 54,600 $61,500 b.The amount of cost of goods sold appearing on the first quarter pro forma income statement is the sum of the monthly amounts ($50,000 + $54,000 + $60,000 = $164,000).c. Since the qu

Review from student

Studypool Student
" Excellent job "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1828 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors