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problem: Jon's Game Store sells computer and other electronic games. The store has budgeted sales for January 2008 as indicated in the given table. The company expects an 8% increase in sales for the month of February and a 5% increase for March.

Sales

January

February

March

Cash sales

$20,000

?

?

Sales on account

40,000

?

?

Total budgeted sales

$60,000

?

?

Required:

[A] find out the sales budget by filling in the missing amounts.
[B] find out the amount of sales revenue the company will report on its pro forma income statement for the 1st quarter?

 

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  • Category:- Accounting Basics
  • Reference No.:- M921792

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