Question: Find the inventories for the year 2013, using the percent-of-sales method for projecting financial statements. 2012 Sales: $200M 2013 sales growth rate: 10% Partial Balance

Find the inventories for the year 2013, using the percent-of-sales method for projecting financial statements.
2012 Sales: $200M
2013 sales growth rate: 10%
Partial Balance sheet for 2012
Cash: $20M
Accounts Receivable: $15M
Inventories: $25M
Total Current Assets: $60M
Net Fixed Assets: $40M
Total Assets: $100M

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Computation of thefollowing Percentofsalesmethod is nothing but ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Managerial Accounting Questions!

Q:

When Mary Owens husband, Ralph, passed away about three months ago he left behind a small fortune, which he had accumulated by living a very thrifty life and by investing in common stocks. Ralph had...

Q:

Find the inventories for the year 2013, Using the percent-of-sales method for projecting financial statements Round yet s 2012 Sales: $200M 2013 sales growth rate 10% Partial Balance sheet for 2012...

Q:

Find the dollar cost of goods sold for the year 2013, using the percent-of-sales method for projecting financial statements. 2012 Sales: $100M 2012 COGS: $40M 2013 sales growth rate: 20% Answers:...

Q:

Find the inventories for the year 2013, using the percent-of-sales method for projecting financial statements. 2012 Sales: $200M 2013 sales growth rate: 10% Partial Balance sheet for 2012 Cash: $20M...

Q:

QUESTION 1 Find the inventories for the year 2013, Using the percent-of-sales method for projecting 2012 Sales: $200M 2013 sales growth rate 10% Partial Balance sheet for 2012 Cash: $20M financial...

Q:

get an anwer and solution of problem in both paper 1 full disclousure second revenue recognition IV. Test Questions and Solutions Chapter 1 Multiple Choice 1. What basic financial statements can be...

Q:

Hello, Could you make corrections of what my instructor is asking of me. Its already done just need those corrections on it. This is a comprehensive problem all contained on this spreadsheet tab. You...

Q:

would you please help me in this? I need to solve requirement a & b in the attached document. Thanks, P.S. I uploaded a sample answer as well ( case 6 ) it is a sample one ONLY ! Good tips will be...

Q:

would you please help me in this? I need to solve requirement a & b in the attached document. Thanks, P.S. I uploaded a sample answer as well ( case 6 ) it is a sample one ONLY ! Good tips will be...

Q:

would you please help me in this? I need to solve requirement a & b in the attached document. Thanks, P.S. I uploaded a sample answer as well ( case 6 ) it is a sample one ONLY ! Good tips will be...

Q:

Using the same model assumptions, how much excess cash will Apple have in 2013 for strategic or dividend purposes? A. $44.2 B. $37.0 C. None of these D. $84.9 Here are my assumptions, and the IS in...

Q:

Selling price per unit=$16 Variable cost per unit=$10 Fixed cost=$90,000 Find out: (1). Break even sales units and value (2). Profit when sales would be $420,000 (3). Margin of safety when sales are...

Q:

Does the identity matrix represent the identity map if the bases are unequal?

Q:

Which statement is true about the gross profit method of invertory valuation? It may be used to entimate inventories for interimstatements When calculated on selling price, it will always be more...

Q:

On October 1, 2024, Kitchen Design paid $15,000 for store rent covering the six-month period ending March 31, 2025. Requirements 1. Journalize the entry on October 1 by using the alternative...

Q:

The eye hook has a positive locking latch when it supports the load because its two parts are pin-connected at A and they bear against one another along the smooth surface at B. Determine the...

Q:

Determine the force P needed to hold the block of mass F in equilibrium. Given: F = 20 lb

Q:

The link is used to hold the rod in place. Determine the required axial force on the screw at E if the largest force to be exerted on the rod at B, C or D is to be Fmax. Also, find the magnitude of...

Q:

2. The Columbia Manufacturing Company has been iked by it wants to renew all or any portion of its present borrowing against the credit line. The most recent balance sheet is shown as follows (in...

Q:

Saved Hardy Company reports budgeted merchandise purchases below. For those purchases, 40% of a month's purchases is paid in the month of purchase, and 60% is paid in the first month after purchase....

Q:

A journal entry for a $500 payment for Prepaid Rent was erroneously recorded as a debit to Prepaid Rent for$700 and a credit to Cash for $500. Which of the following statements correctly states the...