hello
i do need detailed answer to this question please. thank you
Homework Answers
1.
| Cash receipts for July | ||
| Cash sales | 70,000 | |
| Current month sale | 99000 | [330000*30%] |
| June sales | 156000 | [260000*60%] |
| May sales | 22000 | [220,000*10%] |
| Total cash receipts | 347,000 |
2.
| Accounts receivables | ||
| July sales | 231000 | [330000*70%] |
| June sales | 26000 | [260000*10%] |
| Total receivables at the end of July | 257000 |
Workings:
| April | May | June | July | |
| Units sold* | 16000 | 15000 | 17500 | 20000 |
| Price per unit | 20 | 20 | 20 | 20 |
| Total sales | 320000 | 300000 | 350000 | 400000 |
| Less: Cash sales | 70000 | 80000 | 90000 | 70000 |
| Credit sales | 250000 | 220000 | 260000 | 330000 |
*Assumed that these are total units sold and not credit units sold.
Any doubt please comment. If options have been given to you please provide.
Add Answer to:
hello
i do need detailed answer to this question please.
thank you
Acc35o. Review Sample &...
Please make sure the answer is correct 100% and to solve all parts clearly Tiara Company...
Please make sure the answer is
correct 100% and to solve all parts clearly
Tiara Company has the following historical collection pattern for its credit sales: 70% collected in month of sale 15% collected in the first month after sale 10% collected in the second month after sale 4% collected in the third month after sale 1% uncollectible Budgeted credit sales for the last six months of the year follow. $ June 64,000 July 60,000 August 70,000 September 80,000 October...
Please make sure the answer is correct 100% Tiara Company has the following historical collection pattern...
Please
make sure the answer is correct 100%
Tiara Company has the following historical collection pattern for its credit sales: 70% collected in month of sale 15% collected in the first month after sale 10% collected in the second month after sale 4% collected in the third month after sale 1% uncollectible Budgeted credit sales for the last six months of the year follow. $ June 64,000 July 60,000 August 70,000 September 80,000 October 90,000 November 100,000 December 85,000 Required:...
Hello, I need detailed solution for this question Note: check attachments Thank you mere to search...
Hello,
I need detailed solution for this question
Note: check attachments
Thank you
mere to search Signature: Date: Assignment 1 HRM210 W2020 Name: Student ID 3. BeleVu Supplies showed the following se Accounts Receivable Supplies showed the following selected adiusted balances at its December 31, 2019, year-end: Dec. 31/16 Balance 490,000 Allowance for Doubtful Accounts 16,400 Dec. 31/16 Balance During the year 2020, the following selected transactions occurred: a. Sales totalled $2,800,000, of which 25% were cash sales (cost of...
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....
Prepare a schedule of budgeted cash collections from sales for May, June, and July. Include a...
Prepare a schedule of budgeted cash collections from sales for
May, June, and July. Include a three-month summary of estimated
cash collections.
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...
Please show workings! I want to understand this problem. Thank you so much, I'll be sure...
Please show workings! I want to understand this problem. Thank
you so much, I'll be sure to give a thumbs up as I know it help you
guys.
Herbal Care Corp., a distributor of herb-based sunscreens, is ready to begin its third quarter, in which peak sales occur. The company has requested a $40,000, 90-day loan from its bank to help meet cash requirements during the quarter. Since Herbal Care has experienced difficulty in paying off its loans in the...
hello, I need detailed answers to this question. thank you ACC350 Cost Accounting NAME(PRINT)- DATE PROBLEM...
hello, I need detailed answers to this question. thank
you
ACC350 Cost Accounting NAME(PRINT)- DATE PROBLEM I Lancer Company's summary of it budgeted cash flows is given below. 1" Quarter 2nd Quarter 3 Quarter Total cash receipts... $ 170,000 $350,000 $230,000 Total cash disbursements...... $240,000 $260,000 $200,000 4th Quarter $250,000 $250,000 Beginning cash balance for upcoming fiscal year, $18,000 Minimum cash balance required, $ 14,000 Interest rate5% per quarter Repay loan the end of any quarter. Interest is due on...
9.7 Budgeted cash disbursements Burr, Inc. provided the following information: __ July August Projected sales $220,000...
9.7 Budgeted cash disbursements Burr, Inc. provided the following information: __ July August Projected sales $220,000 $260,000 Projected merchandise purchases $150,000 $180,000 • Burr estimates that it will collect 40% of its sales in the month of sale, 35% in the month after the sale, and 22% in the second month following the sale. Three percent of all sales are estimated to be bad debts. • Burr pays 30% of merchandise purchases in the month purchased and 70% in the...
please solve all the queations, thanks. [LO 10-4) 10-26 Budgeted Cash Receipts and Cash Disbursements Timpco,...
please solve all the queations, thanks.
[LO 10-4) 10-26 Budgeted Cash Receipts and Cash Disbursements Timpco, a retailer, makes both cash and credit sales (.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales Credit sales $100,000 100,000 $200,000 $ 120.000 150,000 $ 270,000 $ 80,000 90,000 $ 170,000 Total Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are...
Cash Budget The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash budget...
Cash Budget The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: May June July Sales $86,000 $90,000 $95,000 Manufacturing costs 34,000 39,000 44,000 Selling and administrative expenses 15,000 16,000 22,000 Capital expenditures _ _ 80,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month following the...
Please make sure the answer is
correct 100% and to solve all parts clearly
Tiara Company has the following historical collection pattern for its credit sales: 70% collected in month of sale 15% collected in the first month after sale 10% collected in the second month after sale 4% collected in the third month after sale 1% uncollectible Budgeted credit sales for the last six months of the year follow. $ June 64,000 July 60,000 August 70,000 September 80,000 October...
Please
make sure the answer is correct 100%
Tiara Company has the following historical collection pattern for its credit sales: 70% collected in month of sale 15% collected in the first month after sale 10% collected in the second month after sale 4% collected in the third month after sale 1% uncollectible Budgeted credit sales for the last six months of the year follow. $ June 64,000 July 60,000 August 70,000 September 80,000 October 90,000 November 100,000 December 85,000 Required:...
Hello,
I need detailed solution for this question
Note: check attachments
Thank you
mere to search Signature: Date: Assignment 1 HRM210 W2020 Name: Student ID 3. BeleVu Supplies showed the following se Accounts Receivable Supplies showed the following selected adiusted balances at its December 31, 2019, year-end: Dec. 31/16 Balance 490,000 Allowance for Doubtful Accounts 16,400 Dec. 31/16 Balance During the year 2020, the following selected transactions occurred: a. Sales totalled $2,800,000, of which 25% were cash sales (cost of...
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....
Prepare a schedule of budgeted cash collections from sales for
May, June, and July. Include a three-month summary of estimated
cash collections.
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...
Please show workings! I want to understand this problem. Thank
you so much, I'll be sure to give a thumbs up as I know it help you
guys.
Herbal Care Corp., a distributor of herb-based sunscreens, is ready to begin its third quarter, in which peak sales occur. The company has requested a $40,000, 90-day loan from its bank to help meet cash requirements during the quarter. Since Herbal Care has experienced difficulty in paying off its loans in the...
hello, I need detailed answers to this question. thank
you
ACC350 Cost Accounting NAME(PRINT)- DATE PROBLEM I Lancer Company's summary of it budgeted cash flows is given below. 1" Quarter 2nd Quarter 3 Quarter Total cash receipts... $ 170,000 $350,000 $230,000 Total cash disbursements...... $240,000 $260,000 $200,000 4th Quarter $250,000 $250,000 Beginning cash balance for upcoming fiscal year, $18,000 Minimum cash balance required, $ 14,000 Interest rate5% per quarter Repay loan the end of any quarter. Interest is due on...
9.7 Budgeted cash disbursements Burr, Inc. provided the following information: __ July August Projected sales $220,000 $260,000 Projected merchandise purchases $150,000 $180,000 • Burr estimates that it will collect 40% of its sales in the month of sale, 35% in the month after the sale, and 22% in the second month following the sale. Three percent of all sales are estimated to be bad debts. • Burr pays 30% of merchandise purchases in the month purchased and 70% in the...
please solve all the queations, thanks.
[LO 10-4) 10-26 Budgeted Cash Receipts and Cash Disbursements Timpco, a retailer, makes both cash and credit sales (.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales Credit sales $100,000 100,000 $200,000 $ 120.000 150,000 $ 270,000 $ 80,000 90,000 $ 170,000 Total Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are...
Most questions answered within 3 hours.
-
Now that this course has taken you on a journey of introduction
to the world of...
asked 13 minutes ago -
Given a regression sum of squares equal to 2373.59 and a total
sum of squares equal...
asked 27 minutes ago -
The sandwich maker of the EE-Cole-Eye Sandwich Truck was just
fired (for a reason described below)...
asked 2 hours ago -
Name the following coordination compounds using systematic
nomenclature.
1. [Co(H2O)6]Cl2:
2. [Cr(NH3)6](NO3)3:
3. K4[Fe(CN)6]:
4. Na[Au(CN)4]:...
asked 2 hours ago -
Propose an efficient synthesis of 2-Bromo-5-nitrotoluene from
benzene. Hint: 3 steps. Consider directing effects of substituents....
asked 4 hours ago -
This assignment will explore the impact of corporate decisions
on a local versus a global perspective....
asked 3 hours ago -
Given the function below, F(w,x,y,z)= x’z+w’z’+w’y
a) draw a logic diagram for an implementation which uses...
asked 2 hours ago -
Most political philosophers believe we have a duty to obey laws,
even if the laws in...
asked 3 hours ago -
Which of the following are common negotiation outcome
mistakes?
a. Leave money on the table b....
asked 4 hours ago -
Convert the following quantities:
a) 0.819 atm to torr b) 512 mmHg to bar c) 11.2...
asked 4 hours ago -
C ++ Implement cat command
The purpose of this assignment is to provide practice using the...
asked 4 hours ago -
we
convert sugars into another form of stored potential energy. This
is called?
asked 5 hours ago