A merchandising company provides the following information from its master budget for the month of June: Cash collections from customers Cost of goods sold Cash paid for merchandise purchases Selling and administrative expenses Cash paid for selling and administrative expenses Accounts receivable, June 1 Accounts receivable, June 30 $122,000 $ 87,000 $ 82,000 $ 29,000 $30,000 $ 14,000 $ 20,000 If all of the company's sales are on account, what is the budgeted net operating income for June? (Ignore interest and taxes.) (All answers are whole numbers -- unless specified otherwise. You should NOT include the $ sign or a comma. E.g., you should type 1000 for one thousand. Negative numbers should be added with a minus sign, e.g., -1000 for a decrease or loss of one thousand.) Budgeted net operating income for September = $

A merchandising company provides the following information from its master budget for the month of June: Cash collections from customers Cost of goods sold Cash paid for merchandise purchases Selling and administrative expenses Cash paid for selling and administrative expenses Accounts receivable, June 1 Accounts receivable, June 30 $122,000 $ 87,000 $ 82,000 $ 29,000 $30,000 $ 14,000 $ 20,000 If all of the company's sales are on account, what is the budgeted net operating income for June? (Ignore interest and taxes.) (All answers are whole numbers -- unless specified otherwise. You should NOT include the $ sign or a comma. E.g., you should type 1000 for one thousand. Negative numbers should be added with a minus sign, e.g., -1000 for a decrease or loss of one thousand.) Budgeted net operating income for September = $

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 4PB

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