All sales are on account. thirty percent of the credit sales are collected in the month of sale and the remaining 70% are collected in the month subsequent to the sale. the accounts receivable at june 30 will be collected in july. all merchandise purchases are on account. twenty percent of merchandise inventory purchases are paid in the month of the purchase and the remaining 80% is paid in the month after the purchase. the accounts payable at june 30 will be paid in july. the budgeted inventory balance at july 31 is $22,000. depreciation expense is $3,000 per month. all other selling and administrative expenses are paid in full in the month the expense is incurred. the company’s cash budget for july shows expected cash collections of $77,000, expected cash disbursements for merchandise purchases of $44,500, and cash paid for selling and administrative expenses of $15,000. required: 1. for the month of july, calculate the following: a. budgeted sales b. budgeted merchandise purchases c. budgeted cost of goods sold d. budgeted net operating income 2. prepare a budgeted balance sheet as of july 31

Excel allows you to take a lot of data and organize it in one document. what are some of the features you can use to clarify, emphasize, and differentiate your data?

Fanning company is considering the addition of a new product to its cosmetics line. the company has three distinctly different options: a skin cream, a bath oil, or a hair coloring gel. relevant information and budgeted annual income statements for each of the products follow. skin cream bath oil color gel budgeted sales in units (a) 110,000 190,000 70,000 expected sales price (b) $8 $4 $11 variable costs per unit (c) $2 $2 $7 income statements sales revenue (a × b) $880,000 $760,000 $770,000 variable costs (a × c) (220,000) (380,000) (490,000) contribution margin 660,000 380,000 280,000 fixed costs (432,000) (240,000) (76,000) net income $228,000 $140,000 $204,000 required: (a) determine the margin of safety as a percentage for each product. (b) prepare revised income statements for each product, assuming a 20 percent increase in the budgeted sales volume. (c) for each product, determine the percentage change in net income that results from the 20 percent increase in sales. (d) assuming that management is pessimistic and risk averse, which product should the company add to its cosmetics line? (e) assuming that management is optimistic and risk aggressive, which product should the company add to its cosmetics line?

Match the different financial task to their corresponding financial life cycle phases