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(Solved):   The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December acco ...



 

The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information:

 

Sales at $530,000, all for cash.

Merchandise inventory on November 30 was $240,000.

The cash balance at December 1 was $26,000.

Selling and administrative expenses are budgeted at $84,000 for December and are paid in cash.

Budgeted depreciation for December is $41,000.

The planned merchandise inventory on December 31 is $270,000.

The cost of goods sold is 70% of the sales price.

All purchases are paid for in cash.

There is no interest expense or income tax expense.

 

The budgeted cash receipts for December are:

Multiple Choice

$395,000

$530,000

$571,000

$135,000



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