Homework Answers
Total accounts receivable on December 31 = December sales accounts receivable + November sales accounts receivable
= ($705,000 × 90%) + ($745,000 × 30%)
= 634,500 + 223,500
= $ 858,000
Add Answer to:
Harrti Corporation has budgeted for the following sales: July August September October November December $448,000 $583,000...
Harrti Corporation has budgeted for the following sales: July $ 446,600 August $ 581,600 September $...
Harrti Corporation has budgeted for the following sales: July $ 446,600 August $ 581,600 September $ 615,800 October $ 890,800 November $ 738,000 December $ 698,000 Sales are collected as follows: 15% in the month of sale; 65% in the month following the sale; and the remaining 20% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?
Scottsdale Co. has actual sales for July and August and forecast sales for September October, November,...
Scottsdale Co. has actual sales for July and August and forecast sales for September October, November, and December as follows: $ 98,900 105,200 Actual: July August Forecast September October November December 114,200 94,300 121, 3ee 107,400 Based on past experience, it is estimated that 28% of a month's sales are collected in the month of sale, 49% are collected in the month following the sale, and 6% are collected in the second month following the sale. Required: Calculate the estimated...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November,...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July $ 97,300 August 105,300 Forecast: September 114,800 October 94,300 November 122,900 December 106,300 Based on past experience, it is estimated that 29% of a month’s sales are collected in the month of sale, 48% are collected in the month following the sale, and 9% are collected in the second month following the sale. Required: Calculate the estimated cash...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November,...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July $ 97,100 August 105,100 Forecast: September 114,200 October 94,500 November 121,900 December 107,000 Based on past experience, it is estimated that 24% of a month’s sales are collected in the month of sale, 46% are collected in the month following the sale, and 5% are collected in the second month following the sale. Required: Calculate the estimated cash...
TB MC Qu. 8-89 Harrti Corporation has budgeted for ... Harrt Corporation has budgeted for the...
TB MC Qu. 8-89 Harrti Corporation has budgeted for ... Harrt Corporation has budgeted for the following sales: July August September October November December $445,800 $580, 800 $615,400 $890,400 $734,000 $694,000 Sales are collected as follows: 20% in the month of sale: 55% in the month following the sale; and the remaining 25% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?
Zz, Inc. has budgeted sales in units for the next six months as follows: July August...
Zz, Inc. has budgeted sales in units for the next six months as follows: July August September October November December Budgeted Sales in Units 4,400 units 7,200 units 6,900 units 8,600 units ????? units 7,900 units All sales are made on account. The selling price is $23 per unit. The sales are collected in the pattern 11% in the month of sale, 24% in the month following sale, 57% in the second month following sale, and the final 8% is...
Zinger Corporation has budgeted sales over the next four months below: September October November December Budgeted...
Zinger Corporation has budgeted sales over the next four months below: September October November December Budgeted Sales... $140,000 $150,000 $170,000 $130,000 Twenty five percent of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 41% of a month's credit sales are collected in the month of sale, 32% are collected in the month following sale, and 7% are collected in the second month following sale. The remainder...
3) The following information pertains to Amigo Corporation: Month July August September October November December Sa...
3) The following information pertains to Amigo Corporation: Month July August September October November December Sales $30,000 34,000 38,000 42,000 48,000 60,000 Purchases $10,000 12,000 14,000 16,000 18,000 20,000 Cash is collected from customers in the following manner: Month of sale 40% Month following sale 40% Two months following sale 20% • 60% of purchases are paid for in cash in the month of purchase, and the other 40% is paid the following month. Required: Complete the cash budget for...
The following sales and purchases forecast information pertains to Palermo Corporation: Month July August September October...
The following sales and purchases forecast information pertains to Palermo Corporation: Month July August September October November December Sales $13,000 16,000 18,000 23,000 22,500 28,400 Purchases $6,000 5,700 7,500 8,300 9,200 10,100 Based on past experience cash is typically collected from customers in the following manner: Collected within 10 days of sale so receive a 10% cash discount 25% Collected after 10 days but in the month of sale 10% Collected in the month following the sale 40% Collected in...
49. Razz Company is estimating the following sales for the last six months of 2003: July...
49. Razz Company is estimating the following sales for the last six months of 2003: July $45,000 | August $50,000 September $65,000 | October $80,000 November $75,000 December $60,000 Sales at Razz are normally collected as 10% in the month of sale, 60% in the month following the sale, and the remaining 30% in the second month following the sale. In Razz's budgeted balance sheet at December 31, 2003, at what amount will accounts receivable be shown? a. $49,500 b....
Scottsdale Co. has actual sales for July and August and forecast sales for September October, November, and December as follows: $ 98,900 105,200 Actual: July August Forecast September October November December 114,200 94,300 121, 3ee 107,400 Based on past experience, it is estimated that 28% of a month's sales are collected in the month of sale, 49% are collected in the month following the sale, and 6% are collected in the second month following the sale. Required: Calculate the estimated...
TB MC Qu. 8-89 Harrti Corporation has budgeted for ... Harrt Corporation has budgeted for the following sales: July August September October November December $445,800 $580, 800 $615,400 $890,400 $734,000 $694,000 Sales are collected as follows: 20% in the month of sale: 55% in the month following the sale; and the remaining 25% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amount will accounts receivable be shown?
Zz, Inc. has budgeted sales in units for the next six months as follows: July August September October November December Budgeted Sales in Units 4,400 units 7,200 units 6,900 units 8,600 units ????? units 7,900 units All sales are made on account. The selling price is $23 per unit. The sales are collected in the pattern 11% in the month of sale, 24% in the month following sale, 57% in the second month following sale, and the final 8% is...
3) The following information pertains to Amigo Corporation: Month July August September October November December Sales $30,000 34,000 38,000 42,000 48,000 60,000 Purchases $10,000 12,000 14,000 16,000 18,000 20,000 Cash is collected from customers in the following manner: Month of sale 40% Month following sale 40% Two months following sale 20% • 60% of purchases are paid for in cash in the month of purchase, and the other 40% is paid the following month. Required: Complete the cash budget for...
The following sales and purchases forecast information pertains to Palermo Corporation: Month July August September October November December Sales $13,000 16,000 18,000 23,000 22,500 28,400 Purchases $6,000 5,700 7,500 8,300 9,200 10,100 Based on past experience cash is typically collected from customers in the following manner: Collected within 10 days of sale so receive a 10% cash discount 25% Collected after 10 days but in the month of sale 10% Collected in the month following the sale 40% Collected in...
49. Razz Company is estimating the following sales for the last six months of 2003: July $45,000 | August $50,000 September $65,000 | October $80,000 November $75,000 December $60,000 Sales at Razz are normally collected as 10% in the month of sale, 60% in the month following the sale, and the remaining 30% in the second month following the sale. In Razz's budgeted balance sheet at December 31, 2003, at what amount will accounts receivable be shown? a. $49,500 b....
Most questions answered within 3 hours.
-
A motor produces a torque of 0.25 N m at an angular velocity of
7200 revolutions...
asked 5 minutes ago -
***Please answer the below java question***
Are static methods inheritable? Can they be overridden?
asked 7 minutes ago -
In reaching her destination, a backpacker walks with an average
velocity of 1.13 m/s, due west....
asked 7 minutes ago -
Write two C programs that run a
server program and a client program concurrently.
Server program:...
asked 6 minutes ago -
Executive Program Practical Connection Assignment
Subject : Operations Security.
Assignment:
Provide a reflection of at least...
asked 17 minutes ago -
Every time Casey is at bat he has a 0.4 probability of
getting on base (assume...
asked 25 minutes ago -
The Walston Company is to be liquidated and has the following
liabilities:
Income taxes
$
9,400...
asked 32 minutes ago -
If
the more comprehensive data is available in MEPS, why does the NHIS
still exist? How...
asked 53 minutes ago -
Koo argues that the Japanese economy in the 1990s suffered from
a balance sheet recession. What...
asked 46 minutes ago -
Automobile mechanics conduct diagnosis tests on 150 new cars of
particular make and model to determine...
asked 40 minutes ago -
11) Find the proceeds of a 5 year non-interest
bearing note for $6500 discounted 2.5 years...
asked 47 minutes ago -
Required: Prepare the consolidated financial statements of
Griffin Ltd at 30 June 2019.
Griffin Ltd is...
asked 56 minutes ago