Cooper Company, a retailer of camping supplies has budgeted activity for January using the following data: Cash
Fantastic news! We've Found the answer you've been seeking!
Question:
Cooper Company, a retailer of camping supplies has budgeted activity for January using the following data:
Cash sales | $25,000 |
Credit sales (60% collected in month of sale) | 380,000 |
Selling and administrative costs (including depreciation) | 50,000 |
Depreciation expense | 5,000 |
Merchandise Inventory, January 1 | 21,000 |
Merchandise Inventory, January 31 | 20,000 |
Beginning cash balance | 3,000 |
Minimum cash balance required | 2,500 |
Cost of goods sold is 55% of Cooper’s selling price | |
All purchases are paid in cash | |
Selling and administrative costs are paid in month of purchase |
Prepare a cash budget for January, How is this calculated?
Related Book For
Posted Date: