Seventy five percent of accounts payable is paid in the month that the purchase

Seventy five percent of accounts payable is paid in

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20 percent of the current month cost of goods sold. Seventy-five percent of accounts payable is paid in the month that the purchase occurs; the remaining 25 percent is paid in the following month. 3. Based on the following selling and administrative expenses budgeted for October, prepare a selling and administrative expenses budget for October, November, and December. Sales commissions (10% increase per month)$ 7,200 Supplies expense (10% increase per month) 1,800 Utilities (fixed) 2,200 Depreciation on store equipment (fixed) 1,600 Salary expense (fixed) 34,000 Rent (fixed) 6,000 Miscellaneous (fixed) 1,000 4. Cash payments for sales commissions and utilities are made in the month following the one in which the expense is incurred. Supplies and other operating expenses are paid in cash in the month in which they are incurred. b. Select a representative from each section. Have the representatives supply the missing information in the following pro forma income statement and balance sheet for the fourth quarter of 2014. The statements are prepared as of December 31, 2014.
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D Page 534 c. Indicate whether Havel will need to borrow money during October. ATC 14-3 Research Assignment Analyzing budget data for the United States government The annual budget of the United States is very complex, but this case requires that you analyze only a small portion of the historical tables that are presented as a part of each year's budget. The fiscal year of the federal government ends on September 30. Obtain the budget documents needed at and follow these steps:
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Under the “Featured Collections” heading (top right side of screen), click on “Budget of the U.S. Government.” Click on the “Fiscal Year 2012” link. Scroll down and select “Historical Tables.” There are two options that can be used to download each historical data table. One is an XLS (Excel) file format. This option will make completing this assignment easier. You will need to use Table 1.1, Table 1.2, and Table 4.2 to complete the requirements below. Required 1. Table 1.2 shows the budget as a percentage of gross domestic product (GDP). Using the data in the third column, “Surplus of Deficit,” determine how many years since 1960 the budget has shown a surplus and how many times it has shown a deficit. Ignore the “TQ” data between 1976 and 1977. This was a year that the government changed the ending date of its fiscal year. 2.Based on the data in Table 1.2, identify the three years with the highest deficits as a percentage of GDP. What were the deficit percentages for these years? Which year had the largest surplus and by what percentage? 3.Using your findings for Requirement bregarding the year with the highest deficit as a percentage of GDP, go to Table 1.1 and calculate the deficit for that year as a percentage of revenues.What percent of each dollar spent by the federal government in that year was paid for with tax revenues and what percent was paid for with borrowed funds? 4. The president of the United States from 1993 through 2000 was Bill Clinton, a Democrat. The president from 2001 through 2009 was George Bush, a Republican. These men had significant input into the federal budget for the fiscal years 1994 2001 and 2002 2009, respectively. Table 4.2 shows what percentage of the total federal budget was directed toward each department within the government. Compare the data on Table 4.2 for 1994 2001, the Clinton years, to the data for 2002 2009, the Bush years. Identify the five departments that appear to have changed the most from the Clinton years to the Bush years. Ignore
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