Homework Answers
Sales budget
| June | July | August | |
| Cash sales | 302400 | 312200 | 350000 |
| Credit sales | 129600 | 133800 | 150000 |
| Total sales | 432000 | 446000 | 500000 |
Cash collection budget :
| June | July | August | |
| Cash sales this month | 302400 | 312200 | 350000 |
| 100% of last month credit sales | 106800 | 129600 | 133800 |
| Total collection from customer | 409200 | 441800 | 483800 |
Add Answer to:
Suppose a lumber yard has the following data . Accounts receivable, May 31: (0.30 x May...
Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its...
Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its product on account. Roybal has the following accounts receivable payment experience: Percent paid in the month of sale 20 Percent paid in the month after the sale 55 Percent paid in the second month after the sale 23 To encourage payment in the month of sale, Roybal gives a 2% cash discount. Roybal's anticipated sales for the next few months are as follows: April...
8 Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of...
8
Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its product on account. Roybal has the following accounts receivable payment experience: Percent paid in the month of sale Percent paid in the month after the sale Percent paid in the second month after the sale To encourage payment in the month of sale, Roybal gives a 2% cash discount. Roybal's anticipated sales for the next few months are as follows: April $275,500 May...
Schedule of Cash Collections on Accounts Receivable and Cash Budget Bennett Inc. found that about 15%...
Schedule of Cash Collections on Accounts Receivable and Cash Budget Bennett Inc. found that about 15% of its sales during the month were for cash. Bennett has the following accounts receivable payment experience: Percent paid in the month of sale 25 Percent paid in the month after the sale 68 Percent paid in the second month after the sale 5 Bennett's anticipated sales for the next few months are as follows: April $250,000 May 290,000 June 280,000 July 295,000 August...
Schedule of Cash Collections on Accounts Receivable and Cash Budget Bennett Inc. found that about 30% of its sales...
Schedule of Cash Collections on Accounts Receivable and Cash Budget Bennett Inc. found that about 30% of its sales during the month were for cash. Bennett has the following accounts receivable payment experience: Percent paid in the month of sale 25 Percent paid in the month after the sale Percent paid in the second month after the sale Bennett's anticipated sales for the next few months are as follows: April $250,000 May 290,000 June 280,000 July 295,000 300,000 August Required:...
Cash Receipts The sales budget for Perrier Inc. is forecasted as follows: Month Sales Revenue May...
Cash Receipts The sales budget for Perrier Inc. is forecasted as follows: Month Sales Revenue May $140,000 June 140,000 July 180,000 August 120,000 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. The company gives a 1...
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...
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....
Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers and...
Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months of 2016 are as follows: August $129,000...
Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was...
Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Proiected sales for each of the first three months of operations are as follows: May $134,000 June 155,000 July 169,000 All sales are on account. Sixty-five percent of sales are expected to be collected in the month of the sale, 30% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule...
Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers and credit customer...
Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months of 2016 are as follows: August $109,000...
8
Schedule of Cash Collections on Accounts Receivable and Cash Budget Roybal Inc. sells all of its product on account. Roybal has the following accounts receivable payment experience: Percent paid in the month of sale Percent paid in the month after the sale Percent paid in the second month after the sale To encourage payment in the month of sale, Roybal gives a 2% cash discount. Roybal's anticipated sales for the next few months are as follows: April $275,500 May...
Schedule of Cash Collections on Accounts Receivable and Cash Budget Bennett Inc. found that about 30% of its sales during the month were for cash. Bennett has the following accounts receivable payment experience: Percent paid in the month of sale 25 Percent paid in the month after the sale Percent paid in the second month after the sale Bennett's anticipated sales for the next few months are as follows: April $250,000 May 290,000 June 280,000 July 295,000 300,000 August Required:...
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...
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....
Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 25% pay their accounts in the month of sale, while the remaining 75% pay their accounts in the month following the month of sale. Projected sales for the next three months of 2016 are as follows: August $129,000...
Schedule of Cash Collections of Accounts Receivable Pet Place Supplies Inc., a pet wholesale supplier, was organized on May 1. Proiected sales for each of the first three months of operations are as follows: May $134,000 June 155,000 July 169,000 All sales are on account. Sixty-five percent of sales are expected to be collected in the month of the sale, 30% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule...
Most questions answered within 3 hours.
-
Explain which types of cells in the body (belonging to which
organs, etc.) are sensitive to...
asked 52 seconds ago -
A single cable supports an 703-kg elevator car. What is the
tension in the cable when...
asked 2 minutes ago -
among the three different ways to link CSS specifications to an
HTML document (inline CSS, document...
asked 14 minutes ago -
(1) Write the net ionic equation for the reaction that occurs
when equal volumes of 0.191...
asked 41 minutes ago -
On the night of April 18, 1775, a signal was to be sent from the
Old...
asked 24 minutes ago -
For each of the following strong base solutions, determine
[OH−],[H3O+], pH, and pOH 4.8 x 10^-4...
asked 20 minutes ago -
The magnitude of the electric field inside a capacitor is 6.6 x
106 N/C. What is...
asked 20 minutes ago -
Organizations may have only a few products or many products in a
product line. Consider Campbell...
asked 33 minutes ago -
could you please help me to explain the nmr splitting
integration and chemical shift and assignment...
asked 29 minutes ago -
A
29.0 cm diameter coil consists of 23 turns of cylindrical copper
wire 2.00 mm in...
asked 35 minutes ago -
Q1
Two of your friends each received the results of their
first midterm exam this term....
asked 52 minutes ago -
A 0.500-kg object, suspended from an ideal spring of spring
constant 30.2 N/m, is oscillating vertically....
asked 50 minutes ago