The Gomez Company, a merchandising firm, has budgeted its activity for December according to the following information: Sales at $500,000, all for cash.
Merchandise Inventory on November 30 was $250,000.
The cash balance at December 1, was $20,000.
Selling and administrative expenses are budgeted at $50,000 for December and are paid for in cash.
Budgeted depreciation for December is $30,000.
The planned merchandise inventory on December 31 is $260,000.
The cost of goods sold represents 75% of the selling price.
All purchases are paid for in cash.

Required:
a. What is the budgeted cash receipts for December?
b. What is the budgeted cash disbursements for December?
c. What is the budgeted net income for December?

Balance sheet the assets of dallas & associates consist entirely of current assets and net plant and equipment. the firm has total assets of $2 5 million and net plant and equipment equals $2 million. it has notes payable of $150,000, long-term debt of $750,000, and total common equity of $1 5 million. the firm does have accounts payable and accruals on its balance sheet. the firm only finances with debt and common equity, so it has no preferred stock on its balance sheet. a. what is the company's total debt? b. what is the amount of total liabilities and equity that appears on the firm's balance sheet? c. what is the balance of current assets on the firm's balance sheet? d. what is the balance of current liabilities on the firm's balance sheet? e. what is the amount of accounts payable and accruals on its balance sheet? [hint: consider this as a single line item on the firm's balance sheet.] f. what is the firm's net working capital? g. what is the firm's net operating working capital? h. what is the explanation for the difference in your answers to parts f and g?

Which of the following is a competitive benefit experienced by the first mover firm in an industry? a. the first mover will be able to achieve a less steep learning curve. b. the first mover will be able to reduce the switching costs. c. the first mover will not have to patent its products or technology. d. the first mover will be able to reduce costs through economies of scale.

Which of the following best explains why the demand for housing is more flexible than the supply? a. new housing developments are being constructed all the time. b. low interest rates for mortgages make buying a home very affordable. c. the increasing population always drives demand upwards. d. people can move more easily than producers can build new homes.