The Bandeiras Corporation, a merchandising firm, has budgeted its activity for D

Question

The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information Sales at $470,000, all for cash Merchandise inventory on November 30 was $210,000. The cash balance at December 1 was $20,000 Selling and administrative expenses are budgeted at $66,000 for December and are paid in cash. Budgeted depreciation for December is $29,000. The planned merchandise inventory on December 31 is $240,000 ·The cost of goods sold is 70% of the sales price. All purchases are paid for in cash There is no interest expense or income tax expense. The budgeted cash receipts for December are:

Explanation / Answer

Only cash receipt from this budgeted activity is $470,000. All other cash transactions are related to cash payment.

Hence, the budgeted casg receipts for December are $470,000.

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.