Problem 22-5A Merchandlsing: Preparation of a complete master budget LO C2, P1 P

Question

Problem 22-5A Merchandlsing: Preparation of a complete master budget LO C2, P1 P2 The following information applies to the questions displayed below Near the end of 2013, the management of Dimsdele Sports Co, a merchandising company, prepared the following estimated balance sheet for December 31, 2013. DIMSDALE SPORTS COMPANY Estimated Balance Sheet December 31, 2013 Assets Cash Accounts receivable $ 35,500 520,000 95,000 Total current assets $ 537,000 650.500 537.000 67,125 Less accumulated depreciation Equipment, net 469,875 Total assets $ 1,120,375 Liablities and Equity Accounts payable Bank loan payable Taxes payable (due 3/15/2014) $ 375.000 15,000 92,000 Total liabiities Common stock Retained earnings S 482,000 470.500 67 875 Total stockholders' equity 638,375 Total liabilities and equity s 1120.375 SUR

Explanation / Answer

1) Monthly Sales Budgets

Particulars          Budgeted Unit Sales Budgeted Unit Price    Budgeted Total

January                 7,500                      $53                            $397,500

February                8,700                     $53                            $461,100

March                    11,000                   $53    $583,000

_____________________________________________________________

Totals for the quarter                                    $1,441,600

____________________________________________________________                       

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.