Homework Answers
Correct answer-------------$63600
Working
| Payment for June purchases (72000 x 40%) | $ 28,800.00 |
| Payment for May purchases (58000 x 60%) | $ 34,800.00 |
| Total payment in june budgeted for purchases | $ 63,600.00 |
Add Answer to:
Purchases in May were $58,000, while expected purchases for June and July are $72,000 and $85,000,...
Cash Expenses Paid 68,000 $ 23,000 29,000 32,750 31,500 Month May June July August Sales $...
Cash Expenses Paid 68,000 $ 23,000 29,000 32,750 31,500 Month May June July August Sales $ 92,000 $ 119,000 132,000 125,000 Purchases 85,000 117,000 73,000 The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 40 percent are collected in the month of sale and 60 percent are collected in the following month. All of Martin's purchases are on account with 55 percent paid in the month...
ABC Company’s raw materials purchases for June, July, and August are budgeted at $46,000, $36,000, and...
ABC Company’s raw materials purchases for June, July, and August
are budgeted at $46,000, $36,000, and $61,000, respectively. Based
on past experience, ABC expects that 40% of a month’s raw material
purchases will be paid in the month of purchase and 60% in the
month following the purchase.
Required:
Prepare an analysis of cash disbursements from raw materials
purchases for ABC Company for August.
June July August Budgeted raw material purchases August cash payments: Current month's purchases Prior month's purchases...
$ Month May June July August Cash Expenses Sales Purchases Paid 92,000 $ 68,000 $ 23,000...
$ Month May June July August Cash Expenses Sales Purchases Paid 92,000 $ 68,000 $ 23,000 119,000 85,800 29,000 132,000 117,000 32,750 125,000 73,000 31,500 The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 40 percent are collected in the month of sale and 60 percent are collected in the following month. All of Martin's purchases are on account with 55 percent paid in the month...
The following information is from Tejas WindowTint's financial records. Month April May June July Sales $77,000...
The following information is from Tejas WindowTint's financial records. Month April May June July Sales $77,000 72,000 61,000 73,000 Purchases $60,000 58,000 46,000 64,000 Collections from customers are normally 68 percent in the month of sale, 16 percent in the month following the sale, and 15 percent in the second month following the sale. The balance is expected to be uncollectible. All purchases are on account. Management takes full advantage of the 1 percent discount allowed on purchases paid for...
June sales were $28,000, while projected sales for July and August were $55,000 and $68,000, respectively....
June sales were $28,000, while projected sales for July and August were $55,000 and $68,000, respectively. Sales are 60% cash and 40% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July. O A. $11,200 OB. $38,800 OC. $33,000 O D. $44,200
June sales were $30,000, while projected sales for July and August were $52,000 and $74,000, respectively....
June sales were $30,000, while projected sales for July and August were $52,000 and $74,000, respectively. Sales are 60% cash and 40% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July. O A. $12,000 O B. $38,800 O C. $31,200 OD. $43,200
60 834 556 - Expected un-sales-BE sales erreny - Mary of saf in un. aunt sal...
60 834 556 - Expected un-sales-BE sales erreny - Mary of saf in un. aunt sal phie Mix%. 6257 2015 O eng uc Mix 62 PROBLEM 3 (20 points) Caribbean Tool and Die Company's forecasted sales for April; May, June; and July are $150,000; $225.000 $180,000: and $210,000: respectively. Sales are 50% cash and 50% credit with all accounts receivables collected in the month following the sale, Cost of goods sold is 60% of sales and ending inventory is maintained...
April May June July $37,500 $34,000 $30,000 $45,000 Budgeted cost of goods sold Humboldt had a...
April May June July $37,500 $34,000 $30,000 $45,000 Budgeted cost of goods sold Humboldt had a beginning inventory balance of $1,800 on April 1 and a beginning balance in accounts payable of $7,400. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Humboldt makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the...
Use the following information to prepare the July cash budget for Acco Co. It should show...
Use the following information to prepare the July cash budget for Acco Co. It should show expected cash receipts and cash payments for the month and the cash balance expected on July 31. Beginning cash balance on July 1: $50,000. Cash receipts from sales: 30% is collected in the month of sale, 50% in the next month, and 20% in the second month after sale (uncollectible accounts are negligible and can be ignored). Sales amounts are: May (actual), $1,720,000; June...
Question 9 Samson Company prepared the following purchases budget: Month Budgeted Purchases June $35,600 July $42,500...
Question 9 Samson Company prepared the following purchases budget: Month Budgeted Purchases June $35,600 July $42,500 August $39,600 September $45,800 October $49,400 All purchases are paid for as follows: 20% in the month of purchase, 60% in the following month, and 20% two months after purchase. What are the total dollar cash disbursements budgeted for October for the purchase of merchandise? $9,880 $49,400 $45,280 $37,360
Cash Expenses Paid 68,000 $ 23,000 29,000 32,750 31,500 Month May June July August Sales $ 92,000 $ 119,000 132,000 125,000 Purchases 85,000 117,000 73,000 The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 40 percent are collected in the month of sale and 60 percent are collected in the following month. All of Martin's purchases are on account with 55 percent paid in the month...
ABC Company’s raw materials purchases for June, July, and August
are budgeted at $46,000, $36,000, and $61,000, respectively. Based
on past experience, ABC expects that 40% of a month’s raw material
purchases will be paid in the month of purchase and 60% in the
month following the purchase.
Required:
Prepare an analysis of cash disbursements from raw materials
purchases for ABC Company for August.
June July August Budgeted raw material purchases August cash payments: Current month's purchases Prior month's purchases...
$ Month May June July August Cash Expenses Sales Purchases Paid 92,000 $ 68,000 $ 23,000 119,000 85,800 29,000 132,000 117,000 32,750 125,000 73,000 31,500 The majority of Martin's sales (70 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 40 percent are collected in the month of sale and 60 percent are collected in the following month. All of Martin's purchases are on account with 55 percent paid in the month...
The following information is from Tejas WindowTint's financial records. Month April May June July Sales $77,000 72,000 61,000 73,000 Purchases $60,000 58,000 46,000 64,000 Collections from customers are normally 68 percent in the month of sale, 16 percent in the month following the sale, and 15 percent in the second month following the sale. The balance is expected to be uncollectible. All purchases are on account. Management takes full advantage of the 1 percent discount allowed on purchases paid for...
June sales were $28,000, while projected sales for July and August were $55,000 and $68,000, respectively. Sales are 60% cash and 40% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July. O A. $11,200 OB. $38,800 OC. $33,000 O D. $44,200
June sales were $30,000, while projected sales for July and August were $52,000 and $74,000, respectively. Sales are 60% cash and 40% credit. All credit sales are collected in the month following the sale. Calculate expected collections for July. O A. $12,000 O B. $38,800 O C. $31,200 OD. $43,200
60 834 556 - Expected un-sales-BE sales erreny - Mary of saf in un. aunt sal phie Mix%. 6257 2015 O eng uc Mix 62 PROBLEM 3 (20 points) Caribbean Tool and Die Company's forecasted sales for April; May, June; and July are $150,000; $225.000 $180,000: and $210,000: respectively. Sales are 50% cash and 50% credit with all accounts receivables collected in the month following the sale, Cost of goods sold is 60% of sales and ending inventory is maintained...
April May June July $37,500 $34,000 $30,000 $45,000 Budgeted cost of goods sold Humboldt had a beginning inventory balance of $1,800 on April 1 and a beginning balance in accounts payable of $7,400. The company desires to maintain an ending inventory balance equal to 10 percent of the next period's cost of goods sold. Humboldt makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the...
Question 9 Samson Company prepared the following purchases budget: Month Budgeted Purchases June $35,600 July $42,500 August $39,600 September $45,800 October $49,400 All purchases are paid for as follows: 20% in the month of purchase, 60% in the following month, and 20% two months after purchase. What are the total dollar cash disbursements budgeted for October for the purchase of merchandise? $9,880 $49,400 $45,280 $37,360
Most questions answered within 3 hours.
-
A square current loop 5.4 cm on each side carries a 510 mA
current. The loop...
asked 55 minutes ago -
What are five tips in conducting knowledge assessment/literature
review research? Each of these tips needs to...
asked 1 hour ago -
Antigen presenting cells link innate and adaptive immune
responses. In the theoretical scenario where phagosomes cannot...
asked 1 hour ago -
Dealing with conflict, in my opinion, is a skill and an art. I
believe that those...
asked 2 hours ago -
6. A long straight wire with circular cross section and radius
1.5 cm carries a 1.2...
asked 2 hours ago -
Deacon Corporation has provided the following financial data
from its balance sheet and income statement:
Year...
asked 3 hours ago -
List and discuss at least three variables from everyday life for
which you expect the variable ...
asked 3 hours ago -
A high-pass filter consists of a 1.60 μF capacitor in series
with a 125 Ω resistor....
asked 3 hours ago -
A newly developed artificial intelligence has trouble
distinguishing hand-written numbers from hand-written alphabets.
There are pictures...
asked 3 hours ago -
The carbonate ion CO3 2- has multiple resonance structures.
a. Draw them and assign the hybridization...
asked 3 hours ago -
In doing an allocation for a basket purchase
Use the individual costs and the total market...
asked 3 hours ago -
what were the social political and economic causes and impacts of
the late 19th century urban...
asked 3 hours ago