User Account

All Pages

What budgeted net income would appear in company budgets

Assignment Help Financial Accounting
Reference no: EM133189009

Question - The Doyle Company buys microphones for $75 and sells them for $125 each; the company has the following sales forecast:

October 240 units

November 190 units

December 320 units

Ending inventory for each month should be 10% of the next month's sales. The company had 38 units of inventory and $136,000 in cash on October 1st. The company has rent of $2,500 and fixed payroll of $6,200 each month. For December, what budgeted net income would appear in the company's budgets?

Reference no: EM133189009

Questions Cloud

What amount of total assets does the company have : At the end of the month, $125 of supplies were on still hand. What amount of total assets does the company have at the end of the month
Effects on financial statements of capitalizing interest : There are arguments for and against capitalizing this interest. Explain effects on financial statements of capitalizing versus not capitalizing this interest
Prepare journal entries for compound financial instrument : Prepare journal entries for this compound financial instrument for the year ending December 31, 2020, under (1) IFRS and (2) U.S. GAAP
What is the percent change in sales for year two : The Mullens Company reported the following: For a horizontal analysis, what is the percent change in sales for year 2
What budgeted net income would appear in company budgets : The company has rent of $2,500 and fixed payroll of $6,200 each month. For December, what budgeted net income would appear in the company's budgets
Explain the mckinsey 7-s framework concept : The McKinsey 7-S framework concept, Its benefits and constraints,The concept of PESTLE, its benefits, and its limitations
How to manage a global virtual team : How to Manage a Global Virtual Team, What are the most likely major opportunities and challenges for this global virtual team
Complete the table providing amount of time patron be barred : Complete the given table by providing the amount of time a patron may be barred, depending on the number of instances listed
Write an official letter of resignation to your manager : You are leaving a job and moving on, Write an official letter of resignation to your manager

Reviews

Write a Review

Financial Accounting Questions & Answers

  Record merchandise shipment in transit from home office

To record merchandise shipment in transit from home office. When the merchandise is received on February 4, 2009, East Branch should

  What is the wacc for the tax rate

It paid a dividend of $4.00 recently and its projected growth rate is 10%. What is the WACC if the tax rate is 35%? Ignore floatation costs

  Find what the expected total sales in dollars would be

Find what the expected total sales in dollars would be? The team plays 40 games and expects to average 70 percent attendance at each game.

  Comparison of direct and indirect format of income

comparison of direct and indirect format of income statement.rowe furniture located in elliston virginia produces

  How long will have to wait of savings earn a return

You can save Birr 80,000 annually to fulfill your desire. How long will you have to wait of your savings earn a return of 14 percent annum?

  What was Enbridge book debt-equity ratio

A market price of $31 per share. Enbridge also had cash of $112 billion, and total debt of $199 billion. What was Enbridge's book debt-equity ratio

  Describe what you anticipate to happen to the labor pool

Describe what you anticipate to happen to the labor pool (i.e., the set of workers that you manage to retain and attract) if you were to opt for (1) and (2)

  What amount should be debited to the patent account

Ivanhoe paid cash of $80000 to the seller. Legal fees of $1300 were paid related to the acquisition. What amount should be debited to the patent account

  What was applied overhead for the current job

Lynn Corporation applies manufacturing overhead to jobs on the basis of direct labor hours used. Lynn estimated 720,000 labor hours’ usage and $900,000 of manufacturing overhead cost for the year. For the job currently under consideration, Lynn estim..

  Illustrate diluted earnings per share

Compute diluted earnings per share for 2019. Compute basic earnings per share for 2019. Kearney Company's net income for 2019 was $600,000.

  What is the implied value of each warrant

What is the implied value of each warrant? Lombard Corp. just sold a bond with 25 warrants attached. The bonds have a 20-year maturity and an annual coupon

  Compute the ending balance in retained earnings

Compute the ending balance in retained earnings at the end of 2020. Crane Company reported retained earnings at December 31, 2019, of $316,500.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd