Estlin Corporation sells mail-order computers. In December Year 2, it has generated $300,000 of sales revenue;...
Estlin Corporation sells mail-order computers. In December Year 2, it has generated $300,000 of sales revenue; the company expects a 20 percent increase in sales in January and 10 percent in February. All sales are on account. Estlin normally collects 80 percent of account receivable in the month of sale and 20 percent in the next month.
a. Prepare a sales budget for January and February Year 3
b. Determine the amount of sales revenue Estlin would report on the bimonthly pro forma income statement for January and February Year 3.
c. Prepare a cash receipts schedule for January and February Year 3.
d. Determine the amount of accounts receivable as of February 28, Year 3.
Homework Answers
If you have any doubts ask in comments section
Do rate the answer
Add Answer to:
Estlin Corporation sells mail-order computers. In December Year
2, it has generated $300,000 of sales revenue;...
Walton Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales comp...
Walton Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Walton expects sales in January year 1 to total $340,000 and to increase 15 percent per month in February and March. All sales are on account. Walton expects to collect 65 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 13 percent in the...
Benson Pointers Corporation expects to begin operations on January 1, year 1; it will operate as...
Benson Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Benson expects sales in January year 1 to total $260,000 and to increase 15 percent per month in February and March. All sales are on account. Benson expects to collect 69 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 9 percent in the...
Solomon Pointers Corporation expects to begin operations on January 1, Year 1; it will operate as...
Solomon Pointers Corporation expects to begin operations on January 1, Year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Solomon expects sales in January Year 1 to total $360,000 and to increase 15 percent per month in February and March. All sales are on account. Solomon expects to collect 66 percent of accounts receivable in the month of sale, 24 percent in the month following the sale, and 10 percent in the...
Spalding Pointers Corporation expects to begin operations on January 1, 2019, it will operate as a...
Spalding Pointers Corporation expects to begin operations on January 1, 2019, it will operate as a specialty sales company that sells laser pointers over the Internet. Spalding expects sales in January 2019 to total $120,000 and to increase 5 percent per month in February and March. All sales are on account. Spalding expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 percent in the second month...
Spalding Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a...
Spalding Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a specialty sales company that sells laser pointers over the Internet. Spalding expects sales in January 2019 to total $120,000 and to increase 5 percent per month in February and March. All sales are on account. Spalding expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 percent in the second month...
Adams Pointers Corporation expects to begin operations on January 1, 2019 ; it will operate as...
Adams Pointers Corporation expects to begin operations on January 1, 2019 ; it will operate as specialty sales company that sells laser pointers over the internet. Adams expects sales in January 2019 to total $300,000 and to increase 15 percent per month in February and March. All sales are on account . Adams expects to collect 69 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 9 percent in the second...
Finch Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a...
Finch Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a specialty sales company that sells laser pointers over the Internet. Finch expects sales in January 2019 to total $350,000 and to increase 15 percent per month in February and March. All sales are on account. Finch expects to collect 68 percent of accounts receivable in the month of sale, 23 percent in the month following the sale, and 9 percent in the second month...
Sutton Pointers Corporation expects to begin operations on January 1, 2015; it will operate as a...
Sutton Pointers Corporation expects to begin operations on January 1, 2015; it will operate as a specialty sales company that sells laser pointers over the Internet. Sutton expects sales in January 2015 to total $370,000 and to increase 15 percent per month in February and March. All sales are on account. Sutton expects to collect 69 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 11 percent in the second month...
Check my work FIUUIII rieparty d baie vuuyet du DiCuUI UI LO FELPED LUN Spaldina Pointers...
Check my work FIUUIII rieparty d baie vuuyet du DiCuUI UI LO FELPED LUN Spaldina Pointers Corporation expects to begin operations on January 1, 2019, it will operate as a specialty sales company that sells laser pointers over the Internet. Spalding expects sales in January 2019 to total $120,000 and to increase 5 percent per month in February and March. All sales are on account. Spalding expects to collect 70 percent of accounts receivable in the month of sale, 20...
Rooney Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a...
Rooney Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a specialty sales company that sells laser pointers over the Internet. Rooney expects sales in January 2019 to total $220,000 and to increase 10 percent per month in February and March. All sales are on account. Rooney expects to collect 69 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 9 percent in the second month...
Walton Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Walton expects sales in January year 1 to total $340,000 and to increase 15 percent per month in February and March. All sales are on account. Walton expects to collect 65 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 13 percent in the...
Benson Pointers Corporation expects to begin operations on January 1, year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Benson expects sales in January year 1 to total $260,000 and to increase 15 percent per month in February and March. All sales are on account. Benson expects to collect 69 percent of accounts receivable in the month of sale, 22 percent in the month following the sale, and 9 percent in the...
Solomon Pointers Corporation expects to begin operations on January 1, Year 1; it will operate as a specialty sales company that sells laser pointers over the Internet. Solomon expects sales in January Year 1 to total $360,000 and to increase 15 percent per month in February and March. All sales are on account. Solomon expects to collect 66 percent of accounts receivable in the month of sale, 24 percent in the month following the sale, and 10 percent in the...
Spalding Pointers Corporation expects to begin operations on January 1, 2019, it will operate as a specialty sales company that sells laser pointers over the Internet. Spalding expects sales in January 2019 to total $120,000 and to increase 5 percent per month in February and March. All sales are on account. Spalding expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 percent in the second month...
Spalding Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a specialty sales company that sells laser pointers over the Internet. Spalding expects sales in January 2019 to total $120,000 and to increase 5 percent per month in February and March. All sales are on account. Spalding expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 percent in the second month...
Finch Pointers Corporation expects to begin operations on January 1, 2019; it will operate as a specialty sales company that sells laser pointers over the Internet. Finch expects sales in January 2019 to total $350,000 and to increase 15 percent per month in February and March. All sales are on account. Finch expects to collect 68 percent of accounts receivable in the month of sale, 23 percent in the month following the sale, and 9 percent in the second month...
Sutton Pointers Corporation expects to begin operations on January 1, 2015; it will operate as a specialty sales company that sells laser pointers over the Internet. Sutton expects sales in January 2015 to total $370,000 and to increase 15 percent per month in February and March. All sales are on account. Sutton expects to collect 69 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 11 percent in the second month...
Check my work FIUUIII rieparty d baie vuuyet du DiCuUI UI LO FELPED LUN Spaldina Pointers Corporation expects to begin operations on January 1, 2019, it will operate as a specialty sales company that sells laser pointers over the Internet. Spalding expects sales in January 2019 to total $120,000 and to increase 5 percent per month in February and March. All sales are on account. Spalding expects to collect 70 percent of accounts receivable in the month of sale, 20...
Most questions answered within 3 hours.
-
During Heaton Company’s first two years of operations, it
reported absorption costing net operating income as...
asked 2 minutes ago -
Consider testing the
hypotheses:
H0: p = 0.56
H1: p > 0.56
where p is
the...
asked 5 minutes ago -
In a two-factor analysis of variance a main effect is defined as
____.
a. the unique...
asked 13 minutes ago -
A bank's loan officer rates applicants for credit. The ratings
are normally distributed with a mean...
asked 13 minutes ago -
Fill in the following information for Adipic Acid: molecular
weight, g or ml, mole, melting point,...
asked 18 minutes ago -
how
to use a for loop to iterate over the string below and print each
character...
asked 20 minutes ago -
Please type answer, Thanks.
Respond to the following in a minimum of 175
words:
Research industry...
asked 20 minutes ago -
Assume that all interest rates in the economy increase from 9
percent to 10 percent. Which...
asked 30 minutes ago -
Describe the function of a Change Control Board.
When calculating Planned Value (PV), what is the...
asked 36 minutes ago -
The customer help center in your company receives calls from
customers who need help with some...
asked 47 minutes ago -
A manufacturer wished to compare the wearing qualities of two
different types of automobile tires, A...
asked 45 minutes ago -
Write a MATLAB script file that will sum all the positive
entries in V and stop...
asked 53 minutes ago