acc_202_week_3_assignment_1_e14_2_...

May 14th, 2015
Studypool Tutor
Price: \$10 USD

Tutor description

acc_202_week_3_assignment_1_e14_2_...

Word Count: 399
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

Review from student

Studypool Student
" Thank you! Reasonably priced given the quality not just of the tutors but the moderators too. They were helpful and accommodating given my needs. "

Type your question here (or upload an image)

1830 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