The amount of accumulated depreciation for the budgeted balance sheet of a merchandising company can be obtained from the ________.
A) cash budget
B) selling and administrative expense budget and the prior balance sheet
C) cash payments for selling and administrative expense budget
D) financial budget
B) selling and administrative expense budget and the prior balance sheet
You might also like to view...
A sight draft that arises when a seller extends credit to a buyer with the sale of goods is known as a ________
A) check B) time draft C) trade acceptance D) demand draft
Comparative calendar-year financial data for a company are shown below. Calculate the following ratios for the company for Year 2:(a) accounts receivable turnover(b) day's sales uncollected(c) inventory turnover(d) days' sales in inventory? Year 2Year 1Sales$ 720,000$607,500Cost of goods sold450,000382,700Operating expenses168,500134,900Net income51,20051,700????December 31,December 31,?Year 2Year 1Accounts receivable (net)$ 157,500$162,500Inventory139,500110,500Total assets1,012,500944,800??
What will be an ideal response?
List five features available through online and mobile banking
What will be an ideal response?
Milot Corporation is an oil well service company that measures its output by the number of wells serviced. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes and the actual results of operations for April. Fixed Element per MonthVariable Element per Well ServicedActual Total for AprilRevenue $3,800$112,900Employee salaries and wages$41,400 $900$69,500Servicing materials $500$15,100Other expenses$29,600 $30,200?When the company prepared its planning budget at the beginning of April, it assumed that 32 wells would have been serviced. However, 29 wells were actually serviced during April.?The amount shown for revenue in the planning budget for April would have been closest to:
A. $112,900 B. $124,579 C. $110,200 D. $121,600