May you please answer this question showing your steps!
Homework Answers
collection forecast for April:
| cash sales of April (140,000*30%) | 42,000 |
| march credit sale collection (150,000*70% credit sale *58%) | 60,900 |
| february credit sale collection (140,000*70%*32%) | 31,360 |
| january credit sale collection (220,000*70%*10%) | 15,400 |
| total collection forecast for April | 149,660 |
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May you please answer this question showing your steps!
10. Use the data below from a...
A company is formulating its plans for the coming year, including the preparation of its cash...
A company is formulating its plans for the coming year, including the preparation of its cash budget. Historically, the company's sales are 30% cash. The remaining sales are on credit with the following collection pattern: Collections on Account Percentage In the month of sale 40% In the month following the sale 58% Uncollectible 2% Sales for the first 5 months of the coming year are forecast as follows: January $3,500,000 February 3,800,000 March 3,600,000 April 4,000,000 May 4,200,000 For the...
Requirement 2. Prepare a revised schedule of cash receipts from sales in account are 60% in...
Requirement 2. Prepare a revised schedule of cash receipts
from sales in account are 60% in the month of the sale, 30% in the
month following the sale, and 10% in the second month following the
sale. What is the balance in Accounts Receivable on March 31?
Requirement 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month of the sale. 30 blank, do not enter "0".) Cash Receipts from Customers...
A company is formulating its plans for the coming year, including the preparation of its cash...
A company is formulating its plans for the coming year, including the preparation of its cash budget. Historically, the company's sales are 30% cash. The remaining sales are on credit with the following collection pattern: Collections on Account In the month of sale In the month following the sale Uncollectible Percentage 40% 58% 2% Sales for the first 5 months of the coming year are forecast as follows: January February March April May $3,860,000 4,160,000 3,960,000 4,360,000 4,560,000 For the...
22-20 S al 10) Carmen Company projects the following sales for the first three months of...
22-20 S al 10) Carmen Company projects the following sales for the first three months of the year $12.600 in January: $14.600 in February, and $16,300 in March. The company expects 70% of the sales to be cash and the remainder on account Sales on account are collected 50% in the month of the sale and 50% in the following month The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar. Read the requirements...
A) Need help with this chart B) Find March credit sales, collection of March sales in...
A) Need help with this chart
B) Find March credit sales, collection of March sales in
April
Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April Marcel Company projects the following sales for the first three months of the year: $12,600 in January: $10,200 in February; and $11,100 in March. The company expects 70% of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the...
pelase do requirement 1 and 2 E22-27 (similar to) Question Help Carmen Company projects the following...
pelase do requirement 1 and 2
E22-27 (similar to) Question Help Carmen Company projects the following sales for the first three months of the year: $13.500 in January: $16,100 in February, and $10.400 in March. The company expects 70% of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round...
You are the managerial accountant for Company of Athens Coffee Inc. You have budgeted the monthly...
You are the managerial accountant for Company of Athens Coffee Inc. You have budgeted the monthly sales for the next four months (as shown below). Historically, 20% of total sales are on cash, the remainder are credit sales. Of the credit sales, 35% is collected in the month of sale, 65% is collected the month after the sale. Month January February March April Total Sales $100,000 $110,000 $150,000 $185,000 Required: Prepare a schedule of cash collections budget for the months...
Part 2: Avery Company projects the following sales for the first three months of the year:...
Part 2:
Avery Company projects the following sales for the first three months of the year: $15,800 in January; $10,100 in February; and $10,400 in March. The company expects 60% of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar. 1. Prepare a schedule of...
Please use formulas and cell references А в т с 1 The Master Budget 2 Cash...
Please use formulas and cell
references
А в т с 1 The Master Budget 2 Cash collections budget 4 Kessler Service anticipates the following sales revenue over a five-month period: 5 6 7 Sales revenue November $16,500 December $11,200 January $15,200 February $13,200 March $14,400 70 71 9 The company's sales are 30% cash 70% credit 14 15 13 Its collection history indicates that credit sales are collected as follows: 25% in the month of the sale 50% in the...
My Courses Course Home Homework: Topic 3 Homework (Chapter 22) Score: 0 of 10 pts 2...
My Courses Course Home Homework: Topic 3 Homework (Chapter 22) Score: 0 of 10 pts 2 of 4 (2 complete) XE22-27 (similar to) HW Score: 16.67%, 10 of 60 pts Assignments Question Help Study Plan Results Elwoxxd Company projects the following sales for the first three months of the year $16,700 in January, $15,900 in February, and $10,400 in March. The company expects 70% of the sales to be cash and the remainder on account Sales on account are collected...
Requirement 2. Prepare a revised schedule of cash receipts
from sales in account are 60% in the month of the sale, 30% in the
month following the sale, and 10% in the second month following the
sale. What is the balance in Accounts Receivable on March 31?
Requirement 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month of the sale. 30 blank, do not enter "0".) Cash Receipts from Customers...
A company is formulating its plans for the coming year, including the preparation of its cash budget. Historically, the company's sales are 30% cash. The remaining sales are on credit with the following collection pattern: Collections on Account In the month of sale In the month following the sale Uncollectible Percentage 40% 58% 2% Sales for the first 5 months of the coming year are forecast as follows: January February March April May $3,860,000 4,160,000 3,960,000 4,360,000 4,560,000 For the...
22-20 S al 10) Carmen Company projects the following sales for the first three months of the year $12.600 in January: $14.600 in February, and $16,300 in March. The company expects 70% of the sales to be cash and the remainder on account Sales on account are collected 50% in the month of the sale and 50% in the following month The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar. Read the requirements...
A) Need help with this chart
B) Find March credit sales, collection of March sales in
April
Accounts Receivable balance, March 31: March-Credit sales, collection of March sales in April Marcel Company projects the following sales for the first three months of the year: $12,600 in January: $10,200 in February; and $11,100 in March. The company expects 70% of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the...
pelase do requirement 1 and 2
E22-27 (similar to) Question Help Carmen Company projects the following sales for the first three months of the year: $13.500 in January: $16,100 in February, and $10.400 in March. The company expects 70% of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round...
You are the managerial accountant for Company of Athens Coffee Inc. You have budgeted the monthly sales for the next four months (as shown below). Historically, 20% of total sales are on cash, the remainder are credit sales. Of the credit sales, 35% is collected in the month of sale, 65% is collected the month after the sale. Month January February March April Total Sales $100,000 $110,000 $150,000 $185,000 Required: Prepare a schedule of cash collections budget for the months...
Part 2:
Avery Company projects the following sales for the first three months of the year: $15,800 in January; $10,100 in February; and $10,400 in March. The company expects 60% of the sales to be cash and the remainder on account. Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar. 1. Prepare a schedule of...
Please use formulas and cell
references
А в т с 1 The Master Budget 2 Cash collections budget 4 Kessler Service anticipates the following sales revenue over a five-month period: 5 6 7 Sales revenue November $16,500 December $11,200 January $15,200 February $13,200 March $14,400 70 71 9 The company's sales are 30% cash 70% credit 14 15 13 Its collection history indicates that credit sales are collected as follows: 25% in the month of the sale 50% in the...
My Courses Course Home Homework: Topic 3 Homework (Chapter 22) Score: 0 of 10 pts 2 of 4 (2 complete) XE22-27 (similar to) HW Score: 16.67%, 10 of 60 pts Assignments Question Help Study Plan Results Elwoxxd Company projects the following sales for the first three months of the year $16,700 in January, $15,900 in February, and $10,400 in March. The company expects 70% of the sales to be cash and the remainder on account Sales on account are collected...
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