Answer:
$12,500
Explanation:
Budgeted cash receipts refer to the money that the company expects to receive in a specific period of time.
Budgeted cash disbursements are the payments that the company expects to make in a specific period of time.
$19,500+190,500-191,000= 19,000
Then, you have to subtract 19,000 from 31,500 to determine the amount that the company needs to attain its desired ending cash balance:
31,500-19,000= 12,500
According to this, the company should borrow $12,500.
Answer:
Gross profit= $54,700
Explanation:
Giving the following information:
Purchases $37,000
Merchandise inventory, September 1 6,100
Merchandise inventory, September 30 6,800
Sales 91,000
<u>First, we need to calculate the cost of goods sold:</u>
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
COGS= 6,100 + 37,000 - 6,800
COGS= $36,300
<u>Now, the gross profit:</u>
Gross profit= sales - COGS
Gross profit= 91,000 - 36,300
Gross profit= $54,700