devry acct244 week7 homework es latest 2015

| June 4, 2016

(TCO 7) Which of the following budgets is NOT required in a wholesale organization?




Cost of goods sold

Question 2. Question :

(TCO 7) Which of the following types of accounts would not be included on a budgeted balance sheet?




Owners’ equity

Question 3. Question :

(TCO 7) The Waverly Company has budgeted sales for the year as follows:

The ending inventory of finished goods for each quarter should equal 25% of the next quarter’s budgeted sales in units. The finished goods inventory at the start of the year is 3,000 units. Scheduled production for the second quarter (in units) is:

17,500 units.

16,500 units.

15,000 units.

13,000 units.

Question 4. Question :

(TCO 7) Pardee Company makes 30% of its sales for cash and 70% on account. 60% of the account sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale. The remainder is uncollectible. The following information has been gathered for Pardee’s first year of operations:

Total cash receipts in Month 3 will be:





Question 5. Question :

(TCO 7) A company is preparing its cash budget for the coming month. All sales are on account. Given the following:

What is the expected cash balance of the company at the end of the coming month?





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