Computing amount of sales revenue
Course:- Accounting Basics
Reference No.:- EM13149017

Assignment Help
Assignment Help >> Accounting Basics

Camtech, which expects to start operations on January 1, 2008, will sell digital cameras in shopping malls. Camtech has budgeted sales as indicated in the following table. The company expects a 10 percent increase in sales per month for February and March. The ratio of cash sales to sales on account will remain stable from January through March.

Sales January February March

Cash sales 50,000 ? ?

Sales on Account 80,000 ? ?

Total Budgeted sales 130,000 ? ?

A. Complete the sales budget by filling in the missing amounts.

B. Determine the amount of sales revenue Camtech will report on its second quarter pro forma income statement.

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Accounting Basics) Materials
Prepare a new income statement for the year using variable costing. Comment on the differences between the absorption costing and the variable costing income statements.
What are some of the limitations of the national income accounts in how they represent oyr standard of living? Why is frictional unemployment important to have in any economy?
Carlson Company sponsors a single-employer defined benefit pension plan. The plan provides that pension benefits are determined by age, years of service, and compensation.
What are the arithmetic and geometric average returns for a stock with annual returns of 22 percent, 9 percent, -7 percent, and 13 percent? List the arithmetic answer first.
What is the difference between a value-added and a non-value-added cost? Give an example of each. Participate in follow-up discussions by reviewing your classmates' pos
The capital projects fund or debt service fund. Additionally, address the following: What is accounted for in the fund you selected? What type of journal entries would you exp
MLC, Inc. plans to either lease or buy equipment. The equipment has a 3-year life with no salvage expected. The company will depreciate on a straight-line basis over 3 years.
ACC307 - Accounting Theory. Case Study- Revisiting the conceptual framework. Explain why principles-based standards require a conceptual framework. Why is it important that th