week 4 individual ASSIGNMENT - Running head WEEK FOUR...

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Running head: WEEK FOUR ASSIGNMENT FROM TEXTBOOK 1 Week Four Assignment from the Textbook ACC/400 Accounting for Decision Making Ernest E. Dew Instructor: Arlene Murphy BE 23.6
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WEEK FOUR ASSIGNMENT FROM THE TEXTBOOK 2 Identify the budgets in Column B from which dollar amounts are transferred directly in constructing the budgets listed in Column A. COLUMN A COLUMN B 1) Budgeted Income Statement A) Sales Budget 2) Budgeted Balance Sheet B) Payable Budget 3) Cash Flow Budget C) Direct Materials Budget 4) Cost of Goods Sold Budget D) Cost of Goods Sold Budget 5) Production Budget E) Production Budget E23.1 A) Purchase of direct materials during the year. $252,000 B) Cash Payments during the year to suppliers of materials. $233,000 E23.8 Compute the estimated cash collections on accounts receivable for the month of February. Particulars February Sales $880,000 Receivables for February 70% $616,000 10% $88,000 Collection In Month of Feb. Collections with discount = $880,000 x 70% $616,000 Collections without discount = $880,000 x 10% $88,000 Less 2% discount = ($880,000 x 2% (17,600) Total February $686,000
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