Garden Company Purchased $140,000 of Goods in June and Expects

question 11

Multiple Choice

Garden Company purchased $140,000 of goods in June and expects to purchase $130,000 of goods in July. Garden typically pays for 20% of purchases in the month of purchase and 80% in the following month.Every month, Garden must make the following payments:
In mid-July, Garden expects to buy a new computer for $4,500 using the company credit card. Typically, the credit card bill is paid in full in the following month. June credit card purchases totalled $6,000.
$\begin{array}{lr}\text { Rent } & \$ 5,000 \\\text { Wages } & \$ 14,000 \\\text { Utilities } & \$ 3,000 \\\text { Telephone } & \$ 400 \\\text { Loan on equipment } & \$ 1,200\end{array}$
-Refer to the Figure.What are the total cash disbursements expected by Garden during the month of July?

• A)$55,600
• B)$60,100
• C)$161,600
• D)$167,600

Comprehend the roles and responsibilities of parties involved in lawsuits, including plaintiffs, defendants, and legal practitioners.

Understand the concept of affirmative defenses and how they are used in responding to complaints.

Explain the Federal Rules of Civil Procedure (FRCP) as they relate to discovery, deadlines, and limitations on interrogatories.

Describe the procedures and significance of pretrial orders and scheduling in the litigation process.

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Definitions:

Spending Variance

The difference between the actual amount spent and the budgeted amount for a specific period or category.

Travel Expenses

Costs associated with traveling for the purpose of conducting business-related activities, including transportation, lodging, and meals.

Spending Variance

The difference between the actual amount spent and the budgeted or standard amount expected to be spent.

Power Cost

The expense associated with the consumption of electrical power used in the operations of a business or manufacturing process.