Answer Happy

Required information ATC 7-2 (Algo) Group Assignment Master budget and pro forma statements [The following information applies to the questions displayed below.) The following trial balance was drawn from the records of Stuart Company as of October 1, year 2. $ 23,500 75,000 47,500 350,000 Cash Accounts receivable Inventory Store equipment Accumulated depreciation Accounts payable Line of credit loan Common stock Retained earningo Totala $ 79,800 79,500 250,000 65,000 21,700 $496,000 $496.000

Jar. It does not indicate completion ATC 7-2 (Algo) Parta Required a-1. Based on the following information, prepare a sales budget and a schedule of cash receipts for October, November, and December. Sales for October are expected to be $285,000, consisting of $55,000 in cash and $230,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale. a-2. Based on the following information, prepare a purchases budget and a schedule of cosh payments for inventory purchases for October, November, and December. The inventory balance as of October 1 was $47,500. Cost of goods sold for October is expected to be $79,500. Cost of goods sold is expected to increase by 10 percent per month. The company expects to maintain minimum ending inventory equal to 20 percent of the current month cost of goods sold. Seventy-five percent of accounts payable is paid in the month that the purchase occurs; the remaining 25 percent is paid in the following month. a-3. Based on the following selling and administrative expenses budgeted for October, prepare a selling and administrative expenses budget for October, November, and December. Salos comensions (108 increase per month) Supplien expense (109 Increase per month) Utilities (ixed) Depreciation on store equipment (fixed) Salary expenso (fixed) Ront (fixed) Miscellaneous (fixed) $3,400 1,600 3,700 1,800 41,500 7.500 1.400 Cash payments for sales commissions and utilities are made in the month following the one in which the expenses incurred Supplies and other operating expenses are paid in cash in the month in which they are incurred

compieces que un wy nurm your answers in the Laus Verw. Reg A1 Reg A2 Req A3 Based on the following information, prepare a sales budget and a schedule of cash receipts for October, November, and December. Sales for October are expected to be $285,000, consisting of $55,000 in cash and $230,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale. Show less October November December $ 55,000 230,000 285,000 $ Sales Budget Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Cash sales Collections from accounts receivable Total cash collections Roq A2 >

us quesuun uy envering your answers mee laus veuw. Req A1 GODBLOKO Req A2 Req A3 Based on the following information, prepare a purchases budget and a schedule of cash payments for inventory purchases for October, November, and December. The inventory balance as of October 1 was $47,500. Cost of goods sold for October is expected to be $79,500. Cost of goods sold is expected to increase by 10 percent per month. The company expects to maintain a minimum ending Invehtory equal to 20 percent of the current month cost of goods sold. Seventy-five percent of accounts payable is paid in the month that the purchase occurs, the remaining 25 percent is paid in the following month. (Round your answers to the nearest whole dollar.) Show less Inventory Purchases Budget October November December Inventory needed 0 0 0 $ 0 $ 0 $ 0 Required purchases (on account) Schedule of Cash Payments Payment of current months' accounts payable Payment for prior month's accounts payable Total budgeted payments for inventory 0 $ 0 $ 0

MIU MIU MIU MUUMILIVU Required information Complete this question by entering your answers in the tabs below. Reg A1 Req A2 Req A3 Based on the following selling and administrative expenses budgeted for October, prepare a sellin expenses budget for October, November, and December. October November December $ Sales commissions Supplies expense Utilities Depreciation on store equipment Salary expense Rent Miscellaneous Total S&A expenses 8,400 1,600 3,700 1,800 41,500 7,500 1,400 65,900 $ < Reg A2