FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Gibson Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because
economic conditions vary in different regions of the country. The growth expectations per quarter are 4 percent for Cummings
Division, 2 percent for Springfield Division, and 6 percent for Douglas Division.
Required
a. Complete the sales budget by filling in the missing amounts.
b. Determine the amount of sales revenue that the company will report on its quarterly pro forma income statements.
Complete this question by entering your answers in the tabs below.
Required A
Required B
Complete the sales budget by filling in the missing amounts.
Note: Round your final answers to the nearest whole dollar amount.
Division
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Cummings Division
$ 160,000
Springfield Division
390,000
Douglas Division
260,000
Required A
Required B >
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Transcribed Image Text:Gibson Corporation, which has three divisions, is preparing its sales budget. Each division expects a different growth rate because economic conditions vary in different regions of the country. The growth expectations per quarter are 4 percent for Cummings Division, 2 percent for Springfield Division, and 6 percent for Douglas Division. Required a. Complete the sales budget by filling in the missing amounts. b. Determine the amount of sales revenue that the company will report on its quarterly pro forma income statements. Complete this question by entering your answers in the tabs below. Required A Required B Complete the sales budget by filling in the missing amounts. Note: Round your final answers to the nearest whole dollar amount. Division First Quarter Second Quarter Third Quarter Fourth Quarter Cummings Division $ 160,000 Springfield Division 390,000 Douglas Division 260,000 Required A Required B >
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