Welnor Industrial Gas Corporation supplies acetylene and other compressed gases

Question

Welnor Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at dollar 340,000 for November. dollar 360.000 for December, and S350.000 for January. Collections are expected to be 75 Percentage in the month of sale. 23 Percentage in the month following the sale, and 2 Percentage uncollectible. The cost of goods sold is 71% of sales. The company desires ending merchandise inventory to equal 75 Percentage of the following month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are dollar 21,200. Monthly depreciation is dollar 16,200. Ignore taxes.

Explanation / Answer

Answer:a

Answer:b

Answer:c

Answer:d

Answer:e

Particulars November December Sales 340000 360000 Schedule of expected cash collections: Accounts receivable 82200 November sale 255000 78200 December sale 270000 Total cash collections 337200 348200

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

---

---

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