Plack company budgeted the following information for 2013: may june julybudgeted purchases $104,000 $110,000 $102,000• cost of goods sold is 40% of sales. accounts payable is used only for inventory acquisitions.• plack purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month.• selling and administrative expenses are budgeted at $30,000 for may and are expected to increase 5% per month. they are paid during the month of acquisition. in addition, budgeted depreciation is $10,000 per month.• income taxes are $38,400 for july and are paid in the month incurred. compute the amount of budgeted cash disbursements for july. cash disbursementscompute the amount of budgeted cash disbursements for july.*why do/don't we include the $10,000 from the budeted depreciation ?

Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false

The face of a company is often that of the lowest paid employees who meet the customers. select one: true false

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate. the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received. c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.