Perez Company Which Expects To Start Operations On January 1 Year 2 Will Sell Digital Cameras In Shopping Malls Pere 1 (61.57 KiB) Viewed 30 times
Perez Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Perez has budgeted sales as indicated in the following table. The company expects a 11 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Perez will report on its first quarter pro forma income statement. Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. (Do not round intermediate calculations. Round final answers to two decimal places.) Sales February March Cash sales January $ 47,000 112,000 $ 159,000 Sales on account Total budgeted sales $ 0.00 $ 0.00 < Required A Required B
Perez Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Perez has budgeted sales as indicated in the following table. The company expects a 11 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue Perez will report on its first quarter pro forma income statement. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount of sales revenue Perez will report on its first quarter pro forma income statement. (Do not round intermediate calculations. Round final answers to two decimal places.) Sales revenue < Required A Required B
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!