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Managerial accounting help... budgeted cash dispursements
A merchandising firm has budgeted its activity for November according to the following information:
Sales at $500,000, all for cash Merchandise inventory on October 31 was $300,000 The cash balance November 1 was $20,000 Selling and administrative expenses are budgeted at $50,000 for November and are paid for in cash Budgeted depreciation for November is $30,000 The planned merchandise inventory on November 31 is $240,000 The cost of goods sold is 60% of the selling price All purchases are paid for in cash The budgeted cash disbursements for November are.. |
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