Homework Answers
Add Answer to:
Question 43 2 pt A company's history indicates that 20% of its sales are for cash...
A company's history indicates that its collections on sales are 30% in the month of the...
A company's history indicates that its collections on sales are 30% in the month of the sale, 50% in the next month, and 15% the following month, with the remaining 5% typically ending up as bad debts. Projected sales for January, February, and March are $60,000, $85,000 and $95,000, respectively. The March expected cash receipts from all current and prior sales is: Select one: O A. $80,000 O B. $90,250 C. $63,080 D. $57,000 o E. $64,000
A company's history indicates that 25% of its sales are for cash and the rest are...
A company's history indicates that 25% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale, 50% in the next month, and 20% the following month. Projected sales for January, February, and March are $64,000, $89,000 and $99,000, respectively. The March expected cash receipts from current and prior credit sales is:
A company's history indicates that 25% of its sales are for cash and the rest are...
A company's history indicates that 25% of its sales are for cash and the rest are on credit. Collections on credit sales are 25% in the month of the sale, 40% in the next month, and 20% the following month. Projected sales for January, February, and March are $67,000, $92,000 and $102,000, respectively. The March expected cash receipts from all current and prior credit sales is:
please provide answer wirh explanation A company's history indicates that 20% of its sales are for...
please provide answer wirh explanation
A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale. 50% in the next month, 20% the following month, and 10% is uncollectible. Projected sales for December, January, and February are $78,000, $103,000 and $113,000, respectively. The February expected cash receipts from all current and prior credit sales is Multiple Choice О 560460 O $71760...
Its collection history indicates that credit sales are collected as follows Gem Service anticipates the following...
Its collection history indicates that credit sales are collected as follows Gem Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) i Click the icon to view the collections data.) The company's sales are 20 % cash and 80 % credit How much cash will be collected in January? In February? In March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in...
18) Lafayette Company's experience shows that 20% of its sales are for cash and 80% are...
18) Lafayette Company's experience shows that 20% of its sales are for cash and 80% are on credit. An analysis of credit sales shows that 50% are collected in the month following the sale, 45% are collected in the second month, and 5% prove to be uncollectible. Calculate the following items (1) through (10). Sales .. August $500,000 September October November $525,000 $535,000 $550,000 October November (6) Receipts from cash sales Collections from August credit sales (2) Collections from September...
ABC company has budgeted $100,000 of sales for January Sales are 80% cash and 20% on...
ABC company has budgeted $100,000 of sales for January Sales are 80% cash and 20% on credit Credit sales are collected 100% in the month following the sale A/R at Dec 31 = $15,000 What are the cash collections for January? Select one: O $15,000 none of the answers is correct $95,000 O $100,000 ABC company has budgeted $200,000 of sales for January. Sales are 80% credit and 20% cash Credit sales are collected 100% in the month following the...
Cash Receipts The sales budget for Andrew Inc. is forecasted as follows: Month Sales Revenue May...
Cash Receipts The sales budget for Andrew Inc. is forecasted as follows: Month Sales Revenue May $ 150.000 June 175,000 July 160,000 August 200.000 To prepare a cash budget, the company must determine the budgeted cash collections from sales. Historically, the following trend has been established regarding cash collection of sales • 60 percent in the month of sale. • 20 percent in the month following sale. • 15 percent in the second month following sale. • 5 percent uncollectible....
Royal Cigar Company is preparing a budget for cash collections. Its sales for November and December...
Royal Cigar Company is preparing a budget for cash collections. Its sales for November and December are estimated as $90,000 and $100,000, respectively. Past practice indicates that sales in any given month are collected as follows: month of sale, 75%; month following the month of sale, 20%; uncollectible accounts, 5%. The company allows a 2% discount for cash collections in the month of sale. What is the net cash estimated to be collected in December?
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....
A company's history indicates that its collections on sales are 30% in the month of the sale, 50% in the next month, and 15% the following month, with the remaining 5% typically ending up as bad debts. Projected sales for January, February, and March are $60,000, $85,000 and $95,000, respectively. The March expected cash receipts from all current and prior sales is: Select one: O A. $80,000 O B. $90,250 C. $63,080 D. $57,000 o E. $64,000
please provide answer wirh explanation
A company's history indicates that 20% of its sales are for cash and the rest are on credit. Collections on credit sales are 20% in the month of the sale. 50% in the next month, 20% the following month, and 10% is uncollectible. Projected sales for December, January, and February are $78,000, $103,000 and $113,000, respectively. The February expected cash receipts from all current and prior credit sales is Multiple Choice О 560460 O $71760...
Its collection history indicates that credit sales are collected as follows Gem Service anticipates the following sales revenue over a five-month period: (Click the icon to view the sales data.) i Click the icon to view the collections data.) The company's sales are 20 % cash and 80 % credit How much cash will be collected in January? In February? In March? For the quarter in total? Complete the cash budget to determine how much cash will be collected in...
18) Lafayette Company's experience shows that 20% of its sales are for cash and 80% are on credit. An analysis of credit sales shows that 50% are collected in the month following the sale, 45% are collected in the second month, and 5% prove to be uncollectible. Calculate the following items (1) through (10). Sales .. August $500,000 September October November $525,000 $535,000 $550,000 October November (6) Receipts from cash sales Collections from August credit sales (2) Collections from September...
ABC company has budgeted $100,000 of sales for January Sales are 80% cash and 20% on credit Credit sales are collected 100% in the month following the sale A/R at Dec 31 = $15,000 What are the cash collections for January? Select one: O $15,000 none of the answers is correct $95,000 O $100,000 ABC company has budgeted $200,000 of sales for January. Sales are 80% credit and 20% cash Credit sales are collected 100% in the month following the...
Cash Receipts The sales budget for Andrew Inc. is forecasted as follows: Month Sales Revenue May $ 150.000 June 175,000 July 160,000 August 200.000 To prepare a cash budget, the company must determine the budgeted cash collections from sales. Historically, the following trend has been established regarding cash collection of sales • 60 percent in the month of sale. • 20 percent in the month following sale. • 15 percent in the second month following sale. • 5 percent uncollectible....
Most questions answered within 3 hours.
-
5. The developer of a new welding rod claims that spot welds
using his product will...
asked 1 minute ago -
A few random results for you to ponder…do the results justify
the conclusions? Why or why...
asked 4 minutes ago -
Which of the following is the most accurate description of how a
sound wave propagates?
a)...
asked 2 minutes ago -
Before the final distribution of cash, account balances are:
Cash $23,000; S. Penn, Capital $19,000 (Cr.);...
asked 8 minutes ago -
On May 1, Sequoia Inc. issued 30,000 shares of its common stock
with a $15 par...
asked 8 minutes ago -
For Python 2.7.8, Write a program that defines
a function that prints a short poem or...
asked 9 minutes ago -
An optical disk drive in your computer can spin a disk up to
10,000 rpm (about...
asked 19 minutes ago -
Is the purpose of lightning rods to attract lightning?
asked 28 minutes ago -
Let A be an event included in S that is independent of itself.
Then we have:...
asked 27 minutes ago -
The Adverse Childhood Experiences (ACE) Study has had a great
impact on moving psychologists to be...
asked 25 minutes ago -
Write a paper on: Assume that you have been assigned as the
project manager for a...
asked 29 minutes ago -
You plan to save $5,700 per year for the next 10 years. After
the last deposit,...
asked 1 hour ago