Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales
Posted: Tue Nov 16, 2021 9:19 am
company would like to maintain ending merchandise inventories equal to 50% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. • Other monthly expenses to be paid in cash are $22,800. Monthly depreciation is $13,800. Ignore taxes. O Balance Sheet October 31 Assets Cash Accounts receivable Merchandise inventory Property, plant and equipment, net of $574,400 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity $ 22,400 72,400 66,000 1,096,400 $ 1,257,200 $ 256,400 822,400 178,400 $ 1,257,200 The difference between cash receipts and cash disbursements for December would be:
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $220,000 for November, $200,000 for December, and $190,000 for January. . Collections are expected to be 45% in the month of sale and 55% in the month following the sale. • The cost of goods sold is 60% of sales. . The