I need a help very fast , only for"question(b)", very fast, please help me!

I only have 30 minutes

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Question 2 Riffa Company is a merchandiser that provided a balance sheet as of September 30 as shown below: Riffa Company Balance Sheet September 30 Assets Cash $60,200 Accounts receivable 110,000 Inventory 45.900 Buildings and equipment, net of depreciation 217 000 Total assets $ 433,100 Liabilities and Stockholders Equity Accounts payable S 88.100 Common stock 216.000 Retamed earnings 129.000 Total liabilities and stockholders' equity $433,100 Total liabilities and stockholders' equity $433,100 The company is in the process of preparing a budget for October and has assemblea 1. Sales are budgeted at $340,000 for October and $350,000 for November. Of collected in the month the sales are made, and the remaining 60% is collected 2. The budgeted cost of goods sold is always 45% of sales and the ending merch 3. All merchandise purchases are on account. Thirty percent of all purchases are 30 accounts payable to suppliers will be paid during October. 4. Selling and administrative expenses for October are budgeted at $83,000, e the month. Required: A Intion proided prepare the following: d has assembled the following data: November. Of these sales, 35% will be for cash; the remainder will be credit sales. 40% of a month's credit sales are % is collected in the following month. All of the September 30 accounts receivable will be collected in October ending merchandise inventory is always 30% of the following month's cost of goods sold. purchases are paid for in the month of purchase and 70% are paid for in the following month. All of the September at $83.000, exclusive of depreciation. These expenses will be paid in cash. Depreciation is budgeted at $2,170 for bar 30 accounts payable to suppliers will be paid during October 4. Selling and administrative expenses for October are budgeted at $83,000, exclusive the month Required: Using the information provided, prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October d. The budgeted net operating income for October. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BI U S Paragraph Arial 10pt Question Completion Status 2 Question 2 10 points Riffa Company is a merchandiser that provided a balance sheets of September 30 as shown below Rita Com Ralie Sheet September 30 Assets Cash 560 200 Accounts receivable 110.000 Inventory 45,900 Buildings and equipment net of depreciation 217,000 Total assets $ 433,100 Liabilities and Stockholders Equu Accounts payable 1568.100 Common stock 216.000 Retained earnings 129,000 Total liabilities and stocicholders equity $433, 100 The company is in the process of preparing a budget for October and has abled the following date 1. Sales are budgeted at $340,000 for October and $350,000 for November. Of these sales, 35% will be for cash, the reminder wall be credit sales 10% of a month's credit sales are collected in the month the sales are made, and the remaining 60% in collected in the following month. All of the September 30 accounts receivable will be collected on October 2. The budgeted cost of goods sold is always 4556 of sales and the ending merchandise inventory always 30% of the following mouth's cost of goods sold 3. All merchandise purchases are on account Thirty percent of all purchases are paid for in the month of purchase and 70% are paid for in the following month. All of the September 30 accounts payable to suppliers will be paid during October 4. Selling and administrative expenses for October are budgeted at 583.000 exclusive of depreciation. These expenses will be paid in cash Depreciation is budgeted 52,170 for the month Required: Question Completion Status: 2 3 1. Sales are budgeted at $340,000 for October and $350,000 for November. Of these sales, 35% will be for cash, the rem collected in the month the sales are made, and the remaining 60% is collected in the following month. All of the Septe 2. The budgeted cost of goods sold is always 45% of sales and the ending merchandise inventory is always 30% of the 3. All merchandise purchases are on account. Thirty percent of all purchases are paid for in the month of purchase and 30 accounts payable to suppliers will be paid during October. 4. Selling and administrative expenses for October are budgeted at $83,000, exclusive of depreciation. These expense the month Required: Using the information provided, prepare the following: a. The budgeted cash collections for October. b. The budgeted merchandise purchases for October. c. The budgeted cash disbursements for merchandise purchases for October d. The budgeted net operating income for October For the toolbar, press ALT-F10 (PCor ALT=FN+F10 (Mac). !! 11 P