Baghiben John's Bait and Fish Shop has had the monthly sales amounts listed below for the last four years.Year:2017201820192020JanuaryFebruary$ 417,633113,438$ 586,553139,298$ 335,025165,694$ 588,874114,815March140,194178,51887,201138,941April428,277392,579513,038458,111May437,370927,265535,878851,534June743,1471,084,375598,750742,302July1,449,7291,249,4711,564,5741,579,008August1,429,9021,794,5861,849,8151,591,403September1,179,3821,022,239684,731725,323October369,988466,563483,173651,532November257,050390,912261,735310,920December322,543387,203235,024372,236Assuming that there are both seasonality and a trend, estimate monthly sales for each month of the coming year.Note: Round your answers to the nearest whole dollar amount.

Sure, here are the workings for estimating the monthly sales for the coming year using the…

Answered: John's Bait and Fish Shop has had the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 11EA: Dream Big Pillow Co. pays 65% of its purchases in the month of purchase, 30% the month after the...

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The following information is taken from the financial statements of Down Home Deli for the last three years. The owner, John Walton is quite pleased to see that his sales are growing steadily. 2018 2017 2016 Sales $ 61,500 $ 50,400 $ 42,000 Cost of goods sold 27,670 21,170 16,800 Operating income 7,530 6,050 4,620 Net income 3,075 4,030 2,940 Instructions: (a) Calculate gross profit margin, profit margin, and profit margin using operating income. (b) Comment on whether the Deli is, in fact, doing better over the three years as John believes.
Dream Big Pillow Co. pays 65% of its purchases in the month of purchase, 30% the month after the purchase, and 5% in the second month following the purchase. It made the following purchases at the end of 2017 and the beginning of 2018: Dream Big Pillow Co. purchase data December 2017 January 2018 February 2018 Month Purchases $34,136 $30,395 $34,493 Calculate the payments made in February. Round to the nearest penny, two decimal places. March 2018 $45,379
6. Dream Big Pillow Co. pays 65% of its purchases in the month of purchase, 30% the month after the purchase, and 5% in the second month following the purchase. It made the following purchases at the end of 2017 and the beginning of 2018: Nov. 2017 Dec. 2017 Jan. 2018 Feb. 2018 Mar. 2018 $60,000 $50,000 $35,000 $40,000 $45,000 PLEASE NOTE: All dollar amounts will be rounded to whole dollars with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" - no quotation marks. Using the information above, complete the following cash payments schedule for the monthly budgeted payments and total for Quarter 1: Dream Big Pillow Co. Cash Payments Schedule For the First Quarter of 2018 January February March November 2017 ? ? ? December 2017 ? ? ?…
What is the food inventory turnover for 2020? The Robot Lounge's beginning and ending inventory for 2020 are $22,000 and $15,000, respectively. Activities during 2020 were: Food purchase is $ 44,000. Employee meals are $ 8,000, Promotion meals are $ 8,500. Food sales is $ 1,200,000. Please use 365 days per year, 31 days per month calendar. O 1.42 O 1.2 1.86 O 0.98 O 1.65
Dream Big Pillow Co., pays 65% of its purchases in the month of purchase, 30% the month after the purchase, and 5% in the second month following the purchase. It made the following purchases at the end of 2017 and the beginning of 2018: Nov. 2017 Dec. 2017 Jan. 2018 Feb. 2018 Mar. 2018 $61,000 $51,000 $37,000 $38,000 $46,000
Dream Big Pillow Co. pays 65% of its purchases in the month of purchase, 30% the month after the purchase, and 5% in the second month following the purchase. It made the following purchases at the end of 2017 and the beginning of 2018:
Flint’s Fabrics sold merchandise for $185000 cash during the month of July. Returns that month totaled $4800. If the company’s gross profit rate is 40%, Flint will report monthly net sales revenue and cost of goods sold of $185000 and $111000. $180200 and $108120. $185000 and $108120. $180200 and $72080.
Dream Big Pillow Co. pays 65% of its purchases in the month of purchase, 30% the month after the purchase, and 5% in the second month following the purchase. It made the following purchases at the end of 2017 and the beginning of 2018: Nov. 2017 Dec. 2017 Jan. 2018 Feb. 2018 Mar. 2018 $60,000 $50,000 $35,000 $40,000 $45,000 PLEASE NOTE: All dollar amounts will be rounded to whole dollars with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" - no quotation marks. Using the information above, complete the following cash payments schedule for the monthly budgeted payments and total for Quarter 1: Dream Big Pillow Co. Cash Payments Schedule For the First Quarter of 2018 January February March November 2017 December 2017 January 2018 February 2018 March 2018 Total Cash Payments for the First Quarter of 2018
Accounting Dream Big Pillow Co., pays 65% of its purchases in the month of purchase, 30% the month after the purchase, and 5% in the second month following the purchase. It made the following purchases at the end of 2017 and the beginning of 2018: Nov. 2017 Dec. 2017 Jan. 2018 Feb. 2018 Mar. 2018 $59,000 $52,000. $36,000 $38,000 $44,000 Given the above purchases, how much cash will be paid in quarter 2018? Cash paid $fill in the blank 1.
The Kroger Company reported the following data in its annual report (in millions). January 28, 2017 January 30, 2016 January 31, 2015 Net sales $115,337 $109,830 $108,465 Cost of sales (using LIFO) 89,502 85,496 85,512 Year-end inventories using FIFO 7,852 7,440 6,933 Year-end inventories using LIFO 6,561 6,168 8,178 Instructions a. Compute Kroger's inventory turnovers for fiscal years ending January 28, 2017, and January 30, 2016, using: 1. Cost of sales and LIFO inventory. 2. Cost of sales and FIFO inventory. b. Some firms calculate inventory turnover using sales rather than cost of goods sold in the numerator. Calculate Kroger's fiscal years ending January 28, 2017, and January 30, 2016, turnover, using: 1. Sales and LIFO inventory. 2. Sales and FIFO inventory. c. State which method you would choose to evaluate Kroger's performance. Justify your choice.
Dulaney's Stores has posted the following yearly earnings and expenses. Click the icon to view the yearly data. a. Dulaney's current profit margin is%. (Enter your response rounded to one decimal place.) More Info Earnings and Expenses (Year Ending January 2012) $30,000,000 $25,000,000 $2,730,000 Sales Cost of goods sold (COGS) Pretax earnings Selected Balance Sheet Items Merchandise Inventory Total assets $1,365,000 $9,000,000 X
Blossom Soaps Company has a balance in inventory of $98800 at the beginning of the month. During the month Blossom purchases additional inventory of $154400. Blossom has sales revenue of $235500 for the month. Blossom's inventory at the end of the month is $115500. What is Blossom's cost of goods sold for the month? O $22200 O $137700 O $253200 O $231000

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