Nobula Corp.is preparing their budget for the second quarter and provides the following data: $$\begin{array} { | l | r | r | r | }
\hline & { \text { Apr } } & { \text { May } } & { \text { Jun } } \
\hline \text { Budgeted purchases of direct materials } & \$ 20,000 & \$ 24,000 & { \$ 23,000 } \
\hline \begin{array} { l }
\text { Budgeted Cash Payments for Purchases of direct } \
\text { materials }
\end{array} & { \text { Apr } } & { \text { May } } & { \text { Jun } } \
\hline 40 \% \text { of previous month purchases } & \$ 6,000 & \$ 8,000 & \$ 9,600 \
\hline 60 \% \text { of current month purchases } & \underline { 12,000 } & \underline { 14,400 } & 13,800 \
\hline \text { Total cash payments } & \$ 18,000 & \$ 22,400 & \$ 23,400 \
\hline
\end{array}$$ 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 ________.

Question

Nobula Corp.is preparing their budget for the second quarter and provides the following data: $$\begin{array} { | l | r | r | r | } 
\hline &  { \text { Apr } } & { \text { May } } & { \text { Jun } } \
\hline \text { Budgeted purchases of direct materials } & \$ 20,000 & \$ 24,000 &  { \$ 23,000 } \
\hline \begin{array} { l } 
\text { Budgeted Cash Payments for Purchases of direct } \
\text { materials }
\end{array} & { \text { Apr } } &  { \text { May } } & { \text { Jun } } \
\hline 40 \% \text { of previous month purchases } & \$ 6,000 & \$ 8,000 & \$ 9,600 \
\hline 60 \% \text { of current month purchases } & \underline { 12,000 } & \underline { 14,400 } & 13,800 \
\hline \text { Total cash payments } & \$ 18,000 & \$ 22,400 & \$ 23,400 \
\hline
\end{array}$$ 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 ________.

Quizplus · Accepted Answer

The Answer of Nobula Corp.is preparing their budget for the second quarter and provides the following data: $$\begin{array} { | l | r | r | r | } 
\hline &  { \text { Apr } } & { \text { May } } & { \text { Jun } } \
\hline \text { Budgeted purchases of direct materials } & \$ 20,000 & \$ 24,000 &  { \$ 23,000 } \
\hline \begin{array} { l } 
\text { Budgeted Cash Payments for Purchases of direct } \
\text { materials }
\end{array} & { \text { Apr } } &  { \text { May } } & { \text { Jun } } \
\hline 40 \% \text { of previous month purchases } & \$ 6,000 & \$ 8,000 & \$ 9,600 \
\hline 60 \% \text { of current month purchases } & \underline { 12,000 } & \underline { 14,400 } & 13,800 \
\hline \text { Total cash payments } & \$ 18,000 & \$ 22,400 & \$ 23,400 \
\hline
\end{array}$$ 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 ________.

Nobula Corp Assume That Accounts Payable Pertains Only to Suppliers of Inventory