Sycamore Company, which expects to start operations on January 1, 2014, will sel

Question

Sycamore Company, which expects to start operations on January 1, 2014, will sell digital cameras in shopping malls. Sycamore has budgeted sales as indicated in the following table. The company expects a 15 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. (Round your answers to 2 decimal places.) Cash sales Sales on account Total budgeted sales $ 42,000 107,000 149,000 b. Determine the amount of sales revenue Sycamore will report on its first quarter pro forma income statement. (Round your answer to 2 decimal places.) es rev References eBook & Resources Type here to search ,

Explanation / Answer

a) Complete missing amount :

2) Sales revenue first quarter = (149000+171350+197052.50) = 517402.50

January February March Cash sales 42000 48300 55545 Sales on account 107000 123050 141507.50 Total budgeted sales 149000 171350 197052.50

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

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