Homework Answers
| Cash sales for January | 80000 | |
| Credit sales: | ||
| November sales | 28000 | |
| December sales | 37600 | =47000/(40%+10%)*40% |
| January sales | 90000 | =180000*50% |
| Total cash collected during January | 235600 |
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January February March April May June Cash Credit Sales Sales $ 80,000 $180,000 $ 85,000 $200,000...
The LaGrange Corporation had the following budgeted sales for the first half of the current year:...
The LaGrange Corporation had the following budgeted sales for the first half of the current year: 3 Cash Credit Sales $ 80,000 $180,000 $ 85,000 $200,000 $ 46,000 $160,000 $ 41,000 $126,000 51,000 $230,000 $110,000 $200,000 Sales January February March April points une Skipped The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled eBook Print Collections on sales 45% in...
The LaGrange Corporation had the following budgeted sales for the first half of the current year:...
The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Sales Credit Sales January $ 60,000 $ 160,000 February $ 65,000 $ 180,000 March $ 50,000 $ 140,000 April $ 45,000 $ 130,000 May $ 55,000 $ 210,000 June $ 90,000 $ 240,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections...
The La Grange Corporation had the following budgeted sales for the first half of the current...
The La Grange Corporation had the following budgeted sales for the first half of the current year: January February March April Cash Credit Sales Sales $40,000 $140,000 $ 45,000 $160,000 $ 42,000 $120,000 $37,000 $122,000 $ 47,000 $190,000 $70,000 $160,000 May June The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on sales: 30% in month of sale 35%...
The LaGrange Corporation had the following budgeted sales for the first half of the current year:...
The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Sales Credit Sales January $ 50,000 $ 150,000 February $ 55,000 $ 170,000 March $ 43,000 $ 130,000 April $ 38,000 $ 123,000 May $ 48,000 $ 200,000 June $ 80,000 $ 170,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections...
Provide formula, process in Excel QUESTION 2 The LaGrange Corporation had the following budgeted sales for...
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The LaGrange Corporation had the following budgeted sales for the first half of the current year:...
The LaGrange Corporation had the following budgeted sales for the first half of the current year: Cash Sales Credit Sales January $ 40,000 $ 140,000 February $ 45,000 $ 160,000 March $ 39,000 $ 120,000 April $ 34,000 $ 119,000 May $ 44,000 $ 190,000 June $ 70,000 $ 130,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections...
Please Solve for multiple choice in image. Explain. The LaGrange Corporation had the following budgeted sales...
Please Solve for multiple choice in image. Explain.
The LaGrange Corporation had the following budgeted sales for the first half of the current year. January February March April May June Cash Credit Sales Sales $ 20,000 $120,000 $ 25,000 $140,000 $37,000 $100,000 $32,000 $117,000 $ 42,000 $170,000 $50,000 $110,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on...
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...
4 /4 139% Tools Comment Greenup, Inc., manufactures a product that has peak sales in March...
4 /4 139% Tools Comment Greenup, Inc., manufactures a product that has peak sales in March of each year. The cor first quarter of 2008 are given below: 's budgeted sales for the January February March Total Budgeted sales.. $500,000 $700,000 $1,800,000 $3,000,000 The company is in the process of preparing a cash budget for the first quarter and must determine the expected cash collections by month. To this end, the following information has been assembled: 60% in month of...
The LaGrange Corporation had the following budgeted sales for the first half of the current year: 3 Cash Credit Sales $ 80,000 $180,000 $ 85,000 $200,000 $ 46,000 $160,000 $ 41,000 $126,000 51,000 $230,000 $110,000 $200,000 Sales January February March April points une Skipped The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled eBook Print Collections on sales 45% in...
The La Grange Corporation had the following budgeted sales for the first half of the current year: January February March April Cash Credit Sales Sales $40,000 $140,000 $ 45,000 $160,000 $ 42,000 $120,000 $37,000 $122,000 $ 47,000 $190,000 $70,000 $160,000 May June The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on sales: 30% in month of sale 35%...
Richards Corporation has the following budgeted sales for the first half of next year: Credit Sales Cash Sales $40,000 $45,000 $140,000 January February $160,000 $120,000 $40,000 $45,000 $55,000 $70,000 March April May $140,000 $190,000 $300,000 June The company Is In the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following Information has been assembled: Collections on credit sales: 40% In month of sales 45% In month of following sales...
Please Solve for multiple choice in image. Explain.
The LaGrange Corporation had the following budgeted sales for the first half of the current year. January February March April May June Cash Credit Sales Sales $ 20,000 $120,000 $ 25,000 $140,000 $37,000 $100,000 $32,000 $117,000 $ 42,000 $170,000 $50,000 $110,000 The company is in the process of preparing a cash budget and must determine the expected cash collections by month. To this end, the following information has been assembled: Collections on...
Prepare a schedule of budgeted cash collections from sales for
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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...
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