Solution 1:
Computation of expected cash collection for december - Ashton company | |
Particulars | Amount |
Cash Sales | $95,800.00 |
Collection of credit sales from October ($415,000*18%) | $74,700.00 |
Collection of credit sales from November ($614,000*60%) | $368,400.00 |
Collection of credit sales from December ($692,000*20%) | $138,400.00 |
Total Expected Cash Collection | $677,300.00 |
Solution 2:
Computation of expected cash disbursement for merchandise purchase in december - Ashton company | |
Particulars | Amount |
Payment to suppliers: | |
November purchases | $174,500.00 |
December Purchases ($376,000*30%) | $112,800.00 |
Total Cash payments | $287,300.00 |
Solution 3:
Cash Budget for December - Ashton company | |
Particulars | Amount |
Beginning cash balance | $41,000.00 |
Add: Cash collection from customers | $677,300.00 |
Total cash available | $718,300.00 |
Less: Cash disbursements: | |
Payments to supplier for inventory | $287,300.00 |
Selling and administrative expenses | $388,500.00 |
New web server | $86,500.00 |
Dividend payments | $10,500.00 |
Total cash disbursements | $772,800.00 |
Excess (Deficiency) of cash available over disbursements | -$54,500.00 |
Financing: | |
Borrowings | $74,500.00 |
Repayments | $0.00 |
Interest | $0.00 |
Total financing | $74,500.00 |
Ending Cash balance | $20,000.00 |
You have been asked to prepare a December cash budget for Ashton Company, a distributor of...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $41,000. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October November December $ 68,400 $ 87,400 $ 95, 800 $ 415,000 $ 614,000 $ 692,000 Sales on account are collected over a three-month...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $51,400. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October November December $ 71, 600 S 80,200 $ BB, 600 $ 120,000 $$80,000 $ 652,000 Sales on account are collected over a three-month...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $58,600. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October November December $ 73,200 $ 78,000 $ 92,000 $ 485,000 $ 568,000 $ 663,000 Sales on account are collected over a three-month period...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $58,600. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October $ 73,200 $ 485,000 November December $ 78,000 $ 92,000 $ 568,000 $ 663,000 Sales on account are collected over a three-month period...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: points a. The cash balance on December 1 is $56,600. b. Actual sales for October and November and expected sales for December are as follows: eBook Cash sales Sales on account October November December $ 71,200 $ 73,400 $ 86,200 $ 440,000 $ 576,000 $ 639,000 Print Sales on account are collected over...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company’s operations: The cash balance on December 1 is $41,000. Actual sales for October and November and expected sales for December are as follows: October November December Cash sales $ 68,400 $ 87,400 $ 95,800 Sales on account $ 415,000 $ 614,000 $ 692,000 Sales on account are collected over a three-month period as follows:...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 will be $39,000. b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October $ 65,000 397,000 November $ 65,000 522,000 December $ 82,600 598,000 Sales on account are collected over a three-month period in the...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment The following information is available about the company's operations: a. The cash balance on December 1 is $53.400 b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October November December $ 77,000 $ 81,200 $ 87,800 $435,000 $538,000 $644,800 Sales on account are collected over a three-month period as follows: 20%...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $41,000 b. Actual sales for October and November and expected sales for December are as follows: Cash sales Sales on account October November December $ 68, 400 $ 87,400 $ 95,800 $ 415, 000 $ 614,000 $ 692,000 Sales on account are collected over a...
You have been asked to prepare a December cash budget for Ashton Company, a distributor of exercise equipment. The following information is available about the company's operations: a. The cash balance on December 1 is $53,200. b. Actual sales for October and November and expected sales for December are shown below. Sales on account are collected over a three-month period as follows: 20% collected in the month of sale, 60% collected in the month following sale, and 18% collected in...