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Diltex Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: Sales are budgeted at $220,000 for...

I have a number of questions. I have the answers already, but need to know how to arrived at the answers. Can you show me the calculations? I need these by Tuesday night. Let me know if you can do this. Thanks!
Diltex Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: • Sales are budgeted at $220,000 for November, $200,000 for December, and $210,000 for January. • Collections are expected to be 70% in the month of sale, 27% in the month following the sale, and 3% uncollectible. • The cost of goods sold is 65% of sales. • The company desires to have an ending merchandise inventory at the end of each month equal to 50% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. • Other monthly expenses to be paid in cash are $22,500. • Monthly depreciation is $19,000. • Ignore taxes. 40. Expected cash collections in December are: A. $59,400
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B. $140,000 C. $199,400 D. $200,000 c 41. The cost of December merchandise purchases would be: A. $133,250 B. $68,250 C. $130,000 D. $143,000 A 42. December cash disbursements for merchandise purchases would be: A. $136,500 B. $68,250 C. $133,250 D. $130,000 A 43. The difference between cash receipts and cash disbursements for December would be: A. $17,900 B. $22,500 C. $40,400 D. $62,900 C 44. The net income for December would be: A. $40,400 B. $22,500 C. $47,500 D. $28,500 B
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Hi Student, please find the attached... View the full answer

8436884.xlsx

4 0. Expected cash collections in December are:
Particulars November December January Budgeted sales 220,000 200,000 210,000 70% collected in the same month
27% in the 2nd month 154000
76000...

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