Watt’s Lighting Stores made the following sales projection for the next six months. All sales are...
Watt’s Lighting Stores made the following sales projection for the next six months. All sales are credit sales. March $35,000 April 41,000 May 30,000 June 39,000 July 47,000 August 49,000 Sales in January and February were $38,000 and $37,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale. a. Prepare a monthly cash receipts schedule for the firm for March through August.
Homework Answers
| January | February | March | April | May | June | July | August | |
| Credit sales | 38000 | 37000 | 35000 | 41000 | 30000 | 39000 | 47000 | 49000 |
| In the month of sale (30%) | 10500 | 12300 | 9000 | 11700 | 14100 | 14700 | ||
| One month after sale (40%) | 14000 | 16400 | 12000 | 15600 | 18800 | 19600 | ||
| Two month after sale (20%) | 7000 | 8200 | 6000 | 7800 | 9400 | 9800 | ||
| Total cash receipts | 31500 | 36900 | 27000 | 35100 | 42300 | 44100 |
Add Answer to:
Watt’s Lighting Stores made the following sales projection for
the next six months. All sales are...
Watt's Lighting Stores made the following sales projection for the next six months. All sales are...
Watt's Lighting Stores made the following sales projection for the next six months. All sales are credit sales March $46,000 June $50,000 April 52,000 July 58,000 May 41,000 August 60,000 Sales in January and February were $49,000 and $48,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 25 percent are collected in the month of sale, 35 percent are collected in the following month, and 30 percent are collected two months after sale. a. Prepare a...
Watt's Lighting stores made the following sales projection: Watt's Lighting Stores made the following sales projection...
Watt's Lighting stores made the following sales
projection:
Watt's Lighting Stores made the following sales projection for the next six months. All sales are credit sales. March April May 47,000 55,000 57,000 $43,000 June 49,000 July 38,000 August Sales in January and February were $46,000 and $45,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 35 percent are collected in the month of sale, 45 percent are collected in the following month, and 10 percent are...
Laura's Decor Stores made the following sales projection for the next six months. All sales are...
Laura's Decor Stores made the following sales projection for the
next six months. All sales are credit sales.
march 38,000
April 44,000
may 33,000
june 42,000
july 50,000
august 52,000
sales in january and february were $41,000 and $40,000
respectively
experience has shown that total sales, 10% are uncollectible,
35% are collected in the month of sale, 45 percent are collected in
the following month and 10 percent are collected two months after
sale.
a) prepare a monthly cash receipts...
Simpson Glove Company has made the following sales projections for the next six months. All sales...
Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales. March April May $41,000 June 50,000 July 32,000 August $47,000 58,000 62,000 Sales in January and February were $41,000 and $39,000, respectively. Experience has shown that of total sales receipts 10 percent are uncollectible, 40 percent are collected in the month of sale, 30 percent are collected in the following month, and 20 percent are collected two months after sale. Prepare...
Ed’s Waterbeds has made the following sales projections for the next six months. All sales are...
Ed’s Waterbeds has made the following sales projections for the next six months. All sales are credit sales. March $ 32,000 June $ 36,000 April 38,000 July 44,000 May 27,000 August 46,000 Sales in January and February were $35,000 and $34,000 respectively. Experience has shown that 10 percent of total sales are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale. a....
Getty Company expects sales for the first three months of next year to be $210,000, $235.000...
Getty Company expects sales for the first three months of next year to be $210,000, $235.000 and $285,000, respectively. Getty expects 30 percent of its sales to be cash and the remainder to be credit sales. The credit sales will be collected as follows: 10 percent In the month of the sale and 90 percent in the following month Compute a schedule of Getty's cash receipts for the months of February and March February March Budgeted cash receipts
Getty Company expects sales for the first three months of next year to be $190,000, $240,000...
Getty Company expects sales for the first three months of next year to be $190,000, $240,000 and $285,000, respectively. Getty expects 40 percent of its sales to be cash and the remainder to be credit sales. The credit sales will be collected as follows: 10 percent in the month of the sale and 90 percent in the following month Compute a schedule of Getty's cash receipts for the months of February and March. March February Budgeted Cash Receipts
Wright Lighting Fixtures forecasts its sales in units for the next four months as follows: March...
Wright Lighting Fixtures forecasts its sales in units for the next four months as follows: March 28,000 April 30,000 May 27,500 June 26,000 Wright maintains an ending inventory for each month in the amount of one and one-half times the expected sales in the following month. The ending inventory for February (March's beginning inventory) reflects this policy. Materials cost $5 per unit and are paid for in the month after production. Labor cost is $9 per unit and is paid...
Getty Company expects sales for the first three months of next year to be $215,000, $260,000 and $300,000, respectively...
Getty Company expects sales for the first three months of next year to be $215,000, $260,000 and $300,000, respectively. Getty expects 40 percent of its sales to be cash and the remainder to be credit sales. The credit sales will be collected as follows: 10 percent in the month of the sale and 90 percent in the following month. Compute a schedule of Getty's cash receipts for the months of February and March. February March Budgeted Cash Receipts
Wright Lighting Fixtures forecasts its sales in units for the next four months as follows: March...
Wright Lighting Fixtures forecasts its sales in units for the next four months as follows: March April May June 31,000 33,000 30,500 29,000 Wright maintains an ending Inventory for each month in the amount of three times the expected sales in the following month. The ending Inventory for February (March's beginning inventory) reflects this policy. Materials cost $8 per unit and are paid for in the month after production. Labor cost is $12 per unit and is paid for in...
Watt's Lighting Stores made the following sales projection for the next six months. All sales are credit sales March $46,000 June $50,000 April 52,000 July 58,000 May 41,000 August 60,000 Sales in January and February were $49,000 and $48,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 25 percent are collected in the month of sale, 35 percent are collected in the following month, and 30 percent are collected two months after sale. a. Prepare a...
Watt's Lighting stores made the following sales
projection:
Watt's Lighting Stores made the following sales projection for the next six months. All sales are credit sales. March April May 47,000 55,000 57,000 $43,000 June 49,000 July 38,000 August Sales in January and February were $46,000 and $45,000, respectively. Experience has shown that of total sales, 10 percent are uncollectible, 35 percent are collected in the month of sale, 45 percent are collected in the following month, and 10 percent are...
Laura's Decor Stores made the following sales projection for the
next six months. All sales are credit sales.
march 38,000
April 44,000
may 33,000
june 42,000
july 50,000
august 52,000
sales in january and february were $41,000 and $40,000
respectively
experience has shown that total sales, 10% are uncollectible,
35% are collected in the month of sale, 45 percent are collected in
the following month and 10 percent are collected two months after
sale.
a) prepare a monthly cash receipts...
Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales. March April May $41,000 June 50,000 July 32,000 August $47,000 58,000 62,000 Sales in January and February were $41,000 and $39,000, respectively. Experience has shown that of total sales receipts 10 percent are uncollectible, 40 percent are collected in the month of sale, 30 percent are collected in the following month, and 20 percent are collected two months after sale. Prepare...
Getty Company expects sales for the first three months of next year to be $210,000, $235.000 and $285,000, respectively. Getty expects 30 percent of its sales to be cash and the remainder to be credit sales. The credit sales will be collected as follows: 10 percent In the month of the sale and 90 percent in the following month Compute a schedule of Getty's cash receipts for the months of February and March February March Budgeted cash receipts
Getty Company expects sales for the first three months of next year to be $190,000, $240,000 and $285,000, respectively. Getty expects 40 percent of its sales to be cash and the remainder to be credit sales. The credit sales will be collected as follows: 10 percent in the month of the sale and 90 percent in the following month Compute a schedule of Getty's cash receipts for the months of February and March. March February Budgeted Cash Receipts
Wright Lighting Fixtures forecasts its sales in units for the next four months as follows: March 28,000 April 30,000 May 27,500 June 26,000 Wright maintains an ending inventory for each month in the amount of one and one-half times the expected sales in the following month. The ending inventory for February (March's beginning inventory) reflects this policy. Materials cost $5 per unit and are paid for in the month after production. Labor cost is $9 per unit and is paid...
Getty Company expects sales for the first three months of next year to be $215,000, $260,000 and $300,000, respectively. Getty expects 40 percent of its sales to be cash and the remainder to be credit sales. The credit sales will be collected as follows: 10 percent in the month of the sale and 90 percent in the following month. Compute a schedule of Getty's cash receipts for the months of February and March. February March Budgeted Cash Receipts
Wright Lighting Fixtures forecasts its sales in units for the next four months as follows: March April May June 31,000 33,000 30,500 29,000 Wright maintains an ending Inventory for each month in the amount of three times the expected sales in the following month. The ending Inventory for February (March's beginning inventory) reflects this policy. Materials cost $8 per unit and are paid for in the month after production. Labor cost is $12 per unit and is paid for in...
Most questions answered within 3 hours.
-
What is the magnetic polarity of the geographical North Pole of the
Earth?
The
northern geographical...
asked 1 minute from now -
color blindness is a sex linked recessive trait. draw
a punnett square showing the cross between...
asked 1 minute ago -
Another method to find the equivalence point is to use the first
derivative of the titration...
asked 18 minutes ago -
1. Is there an increase or decrease in delta and theta wave
activity when the eyes...
asked 16 minutes ago -
A 0.140-kg baseball is dropped from rest from a height of 2.20 m
above the ground...
asked 12 minutes ago -
A pendulum is made by tying a 540 g ball to a 50.0 cm -long
string....
asked 19 minutes ago -
Tiggie’s Dog Toys, Inc. reported a debt-to-equity ratio of 1.75
times at the end of 2018....
asked 19 minutes ago -
Pure water is one of the important sources of life on earth.
Nevertheless, many people waste...
asked 33 minutes ago -
A thin spherical shell has radius 25 cm and a charge 8 nC
distributed uniformly over...
asked 46 minutes ago -
Katz argued that managers need three fundamental skill sets that
include all of the following
except:...
asked 46 minutes ago -
James has low self-esteem. Compared with those having high
self-esteem, he is likely to:
repress distressing...
asked 1 hour ago -
This is a multiple question discussion. Can someone please help
and provide insight with definitions and...
asked 1 hour ago