A merchanding company reported the information below from its March master budget:Cost of goods soldCash paid for merchandise purchasesSelling and administrative expenses$79,100$74,200$34,100Cash paid for selling and administrative expensesRetained earnings, March 1$26,900$19,200Retained earnings, March 31$25,400If the company does not plan to declare a dividend or incur any interest in the month, what is its budgeted sales for March? Ignore taxes.Multiple Choice$1,000$119,400$101,900

Solution: Net income for March = Retained earnings ending - Retained earnings beginning = 25400 -…

A merchanding company reported the information below from its March master budget: $79,100 $74,200 Cost of goods sold Cash paid for merchandise purchases Selling and administrative expenses Cash paid for selling and administrative expenses $34,100 $26,900 $19,200 Retained earnings, March 1 Retained earnings, March 31 $25,400 If the company does not plan to declare a dividend or incur any interest in the month, what is its budgeted sales for March? Ignore taxes.

A merchanding company reported the information below from its March master budget: $79,100 $74,200 Cost of goods sold Cash paid for merchandise purchases Selling and administrative expenses Cash paid for selling and administrative expenses $34,100 $26,900 $19,200 Retained earnings, March 1 Retained earnings, March 31 $25,400 If the company does not plan to declare a dividend or incur any interest in the month, what is its budgeted sales for March? Ignore taxes.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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