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3 years ago

The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information:

Business

1 answer:

melomori [17]3 years ago

7 0

Answer:

a. $550,000

b. $472,500

c. $12,500

Explanation:

a. Calculation to determine the budgeted cash receipts for December

Budgetted Cash receipts

Cash sales $550,000

Therefore the budgeted cash receipts for December is $550,000 since there is no other receipts which means that the Cash sales of the amount of $550,000 will represent the whole Cash receipts

b. Calculation to determine the budgeted cash disbursements for December

BUDGETED CASH DISBURSEMENTS for December

Cash purchases $412,500

($550,000*75%)

Add Selling and administrative expenses budgeted $60,000

Total Cash disbursement $472,500

Therefore the budgeted cash disbursements for December is $472,500

c. Calculation to determine the budgeted net income for December

BUDGETED NET INCOME FOR DECEMBER

Sales $550,000

Less Cost of goods sold ($442,500)

($300,000+$412,500-$270,000)

Gross margin $107,500

($550,000-$442,500)

Less: Operating Expense

Selling and administrative expense ($60,000)

Depreciation expense ($35,000)

Net income $12,500

($107,500-$60,000-$35,000)

Therefore the budgeted net income for December is $12,500

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2 years ago

an analyst gathered the following data about a company: 1,000 common shares are outstanding (no change during the year). net inc

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2 years ago

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2 years ago

Hayim Accardi is the accounting manager for a small, local firm that has full- and part-time staff. How do FLSA guidelines regar

lora16 [44]

Answer:

The answer is below

Explanation:

According to a Fair Labor Standards Act, FLSA, guidelines regarding working hours apply to Hayim's employees in the following ways:

1. All the workers, (either full time or part-time) is entitled to remuneration based on minimum wage.

2. All the employees should work based on the guideline regarding maximum hours

3. The minimum age is applicable to all the employees

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3 years ago

g The Nelson Company has $1,312,500 in current assets and $525,000 in current liabilities. Its initial inventory level is $385,0

slavikrds [6]

Answer:

$262,500

Explanation:

Current ratio = Current asset/Current liabilities

In line with the current ratio formula, to calculate the amount of short term debt increase, with the amount of current assets and current liabilities, we must add an amount such that the result 2.0

(1,312,500 + x) / (525,000 + x) = 2.0

Cross multiply

(1,312,500 + x) = 2.0 × (525,000 + x)

Open the brackets

1,312,500 + x = 1,050,000 + 2x

Collect like terms

1,312,500 - 1,050,000 = 2x - x

262,500 = x

It therefore means that the maximum that should be borrowed to buy inventory is $262,500

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3 years ago