purchase budget

/index.html?_con=con&external_browser=0&launchUrl=https%2! 5 My Cougar Connec... board YouTube O Claimant Self Servic... 7 HotSchedules Login Saved Check my work mode: This shows what is correct or incorrect for the v nation formation applies to the questions displayed below.] to get this new material-handling equipment in operation just after the new year begins. with cash and marketable securities, but if necessary we can get a short-term loan down Dy Beth Davies-Lowry, president of Intercoastal Electronics Company, concluded a meetir op management. Intercoastal is a small, rapidly growing wholesaler of consumer electroni uct lines are small kitchen appliances and power tools. Marcia Wilcox, Intercoastal's Gene recently completed a sales forecast. She believes the company's sales during the first qua percent each month over the previous month's sales. Then Wilcox expects sales to remair Intercoastal's projected balance sheet as of December 31, 20x0, is as follows: ivable curities $ 45,000 360,000 15,000 192,500 600,000 $1,212,500 equipment (net of accumulated depreciation) ble payable s payable = (10%; due in 20x6) $ 220,500 13,750 6,000 330,000 500,000 142, 250 $1,212,500 ings ties and stockholders' equity the assistant controller, is now preparing a monthly budget for the first quarter of 20x1. In the nation has been accumulated: les for December of 20x0 are $500,000. Credit sales typically are 80 percent of total sales ience indicates that 10 percent of the credit sales are collected during the month of sale, an during the following month. es cost of goods sold generally runs at 70 percent of sales. Inventory is purchased on accour ach month's purchases are paid during the month of purchase. The remainder is paid during der to have adequate stocks of inventory on hand, the firm attempts to have inventory at the