Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Master budget preparation

26/04/2021 Client: muhammad11 Deadline: 2 Day

Near the end of 2013, the management of Dimsdale Sports Co., a merchandising company, prepared the following estimated balance sheet for December 31, 2013. To prepare a master budget for January, February, and March of 2014, management gathers the following information. a) Dimsdale Sports’ single product is purchased for $30 per unit and resold for $55 per unit. The expected inventory level of 5,000 units on December 31, 2013, is more than management’s desired level for 2014, which is 20% of the next month’s expected sales (in units). Expected sales are: January, 7,000 units; February, 9,000 units; March, 11,000 units; and April, 10,000 units. b) Cash sales and credit sales represent 25% and 75%, respectively, of total sales. Of the credit sales, 60% is collected in the first month after the month of sale and 40% in the second month after the month of sale. For the December 31, 2013, accounts receivable balance, $125,000 is collected in January and the remaining $400,000 is collected in February. c) Merchandisepurchasesarepaidforasfollows:20%inthefirstmonthafterthemonthofpurchaseand 80% in the second month after the month of purchase. For the December 31, 2013, accounts payable balance, $80,000 is paid in January and the remaining $280,000 is paid in February. d) Sales commissions equal to 20% of sales are paid each month. Sales salaries (excluding commissions) are $60,000 per year. e) General and administrative salaries are $144,000 per year. Maintenance expense equals $2,000 per month and is paid in cash. f) Equipment reported in the December 31, 2013, balance sheet was purchased in January 2013. It is being depreciated over eight years under the straight-line method with no salvage value. The following amounts for new equipment purchases are planned in the coming quarter: January, $36,000; February, $96,000; and March, $28,800. This equipment will be depreciated under the straight-line method over eight years with no salvage value. A full month’s depreciation is taken for the month in which equipment is purchased. g) The company plans to acquire land at the end of March at a cost of $150,000, which will be paid with cash on the last day of the month. h) Dimsdale Sports has a working arrangement with its bank to obtain additional loans as needed. The interest rate is 12% per year, and interest is paid at each month-end based on the beginning balance. Partial or full payments on these loans can be made on the last day of the month. The company has agreed to maintain a minimum ending cash balance of $25,000 in each month. i) The income tax rate for the company is 40%. Income taxes on the first quarter’s income will not be paid until April 15. Required Prepare a master budget for each of the first three months of 2014; include the following component budgets (show supporting calculations as needed, and round amounts to the nearest dollar): 1. Monthly sales budgets (showing both budgeted unit sales and dollar sales). 2. Monthly merchandise purchases budgets.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

A+GRADE HELPER
Calculation Master
Quality Homework Helper
WRITING LAND
Engineering Solutions
Maths Master
Writer Writer Name Offer Chat
A+GRADE HELPER

ONLINE

A+GRADE HELPER

Give me a chance, i will do this with my best efforts

$30 Chat With Writer
Calculation Master

ONLINE

Calculation Master

Give me a chance, i will do this with my best efforts

$45 Chat With Writer
Quality Homework Helper

ONLINE

Quality Homework Helper

Hello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism

$35 Chat With Writer
WRITING LAND

ONLINE

WRITING LAND

I am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time

$20 Chat With Writer
Engineering Solutions

ONLINE

Engineering Solutions

Give me a chance, i will do this with my best efforts

$43 Chat With Writer
Maths Master

ONLINE

Maths Master

I will cover all the points which you have mentioned in your project details.

$37 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Upside of irrationality pdf - Kelvin hall school hull - Sparknotes dr jekyll and mr hyde chapter 8 - Macpherson v brown assault - Cognitive Behavioral Theory Versus Rational Emotive Behavioral Theory - Ethan frome reading comprehension questions - Cultural Informative Speech Outline Instructions Assessment on EGyptian culture 3 pages - Isolated high side gate driver - Dhan foundation interview questions - Anandamayi ma ashram omkareshwar - Health Information Management System Week 3 Project - Nina simone essay - Marketing and public relations reading quiz - As 1684.2 span tables - Edgewood isd v kirby - 2012 hsc chemistry sample answers - A small backpack manufacturer carries four different - Wall street journal redesign - 24 poems robert gray techniques - Which molecular processes correspond to the energies of microwave - Which of the following is not a descriptive statistic - After watching the video clip, answer the following questions: - Social media health surveillance due 9/17/2020 - Intel inside idiot outside wallpaper - Smoke all day ka ikena ukulele chords - Melissa owns the following portfolio of stocks. what is the return on her portfolio? - Computing price elasticity of demand - Manchester united soccer club case study project management - Mitosis and meiosis crossword puzzle answers - Gov D8 - Homework Question - Fdr's four freedoms speech analysis - Roles of employer associations - Is business bluffing ethical pdf - Frank lloyd wright mile high - Cash drawer breakdown calculator - Organizational network analysis course - Visual communication in the media rasmussen - Data flow diagram revenue cycle - 2007 methods exam 2 - Legal environment of business mba notes - Muscle and strength pyramid nutrition pdf download free - Is google making us stupid questions - 1 fte how many hours - Journal: Payment Systems - The redistricting game worksheet answers - Civil law, criminal law, or both - Final Literature Review - Army blc sharp essay - Deprag d 92224 amberg manual - Qnt 351 week 1 statistics in business - Business law - Mental Health (ADHD) Attention Deficit Hyperactivity Disorder - CJT101 ASSIGNMENT - Manage personal work priorities and professional development sample - La caja china lamb - Sociology essay questions and answers pdf - Research paper - Statement of authorship template - Masterwatt srl electric heaters - High pitched blowing systolic murmur - Little darlings rock and roll palace - Partnership act 1892 - On course skip downing 2nd edition pdf - How to draw an arctic hare - Introduction to mass communication theory - Woolworths prepaid credit card - Windhoek mines ltd of namibia is contemplating - Isometric and planometric drawing - Beck manufacturing and plant capacity - Motor control and learning 5th edition a behavioral emphasis pdf - Database final exam - The little pink nub that helps rectify mistakes - What is environmental scanning strategy - Icd 10 code for right tibial plateau fracture - Po box 920 albury nsw 2640 - Bow's notation graphical method - Sadie and maud questions and answers - BUNS603 - The butterfly poem analysis - Strategies to restructure a diversified company's business lineup involve - Charlie bell school of management - Lina purchased a new car for use - Aca ethical decision making model - Informative research paper - Kingsgate student lock in - Overcoming challenges - Menopause - Bkwsu live webcast eu - The farm angola usa summary - Medical entitlement statement form - Flame test energy level diagram - HR_STR (U1_1) - Physics behind crumple zones - Chi square critical value calculator ti 84 - 263 blackpepper loop little river sc - Plate tectonics crossword puzzle answer key 1 17 - North walsham junior school - Paper doll a view from the bridge - Discuss the business environment of jessops