Question: plz follow the rule Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted

Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry.

plz follow the rule

Weller Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at for November, $300,000 for December, and for January. Collections are expected to be 85% in the month Of sale, 14% in the rnonth following the sale, and 1% uncollectible. The cost Of goods sold is 600/0 Of sales. The company purchases 80% Of its merchandise in the month prior to the month Of sale and 20% in the month Of sale. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are S21 ,200. Monthly depreciation is S21 , 000. Ignore taxes. Statement of Financial Position As at October 31 Assets C ash Accounts receivable (net Of allowance for uncollectible accounts) Inventory Property , plant and equipment (net Of accumulated depreciation) Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings Total liabilities and stockholders' equity Required: s 22,000 83,000 158,400 1 004 ooo s 196,000 620,000 451 400 $1267.400 Prepare a Schedule Of Expected Cash Collections for November and December. (6 marks) b. d. Prepare a Merchandise Purchases Budget for November and December. Prepare Cash Budgets for November and December. Prepare Budgeted Income Statements for November and December. (8 marks) (8 marks) ( 13 marks) Prepare a Budgeted Statement of Financial Position for the end of December. (15 marks)

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