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Deprecated Deprecated
wrote...
Posts: 2784
3 years ago
Nobula Corp. is preparing their budget for the second quarter and provides the following data:

   Apr   May   Jun
Budgeted purchases of direct materials   $20,000   $24,000   $23,000
Budgeted Cash Payments for Purchases of direct materials   Apr   May   Jun
60% of previous month purchases   $6,000   $12,000   $14,400
40% of current month purchases   8,000   9,600   9,200
Total cash payments   $14,000   $21,600   $23,600

Assume that accounts payable pertains only to suppliers of inventory. Based on the above data, the amount of Accounts Payable that should be shown in the budgeted balance sheet as of June 30 is ________.
A) $9,200
B) $23,600
C) $13,800
D) $14,400
Textbook 

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
Read 498 times
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TanksTanks
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3 years ago
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wrote...
3 years ago
This was certainly a tough question, loving the expertise
wrote...
3 years ago
Always happy to help a fellow business student Slight Smile
wrote...
3 weeks ago
thank you
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