Homework Answers
Solution:
Expected cash collection for June = (April sales *6%) + (May sales * 64%) + (June sales * 30%)
= ($130,000*6%) + ($140,000*64%) + ($130,000*30%)
= $136,400
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istory Bookmarks Window Help Ch. 8 Quiz-60 minutes Saved The BRS Corporation makes collections on sales...
The BRS Corporation makes collections on sales according to the following schedule: 45% in month of...
The BRS Corporation makes collections on sales according to the following schedule: 45% in month of sale 48% in month following sale 7% in second month following sale The following sales have been budgeted: Sales April $ 120,000 May $ 100,000 June $ 140,000 Budgeted cash collections in June would be: Multiple Choice $119,400 $140,000 $140,840 $111,000
The BRS Corporation makes collections on sales according to the following schedule: 35% in month of...
The BRS Corporation makes collections on sales according to the following schedule: 35% in month of sale 61% in month following sale 4% in second month following sale Skloped The following sales have been budgeted: April May June Sales $120,000 $130,000 $120,000 Budgeted cash collections in June would be: Multiple Choice 0 $126,100 0 $120.000 0 $120.480 0 $121,300
The BRS Corporation makes collections on sales according to the following schedule: 60% in month of...
The BRS Corporation makes collections on sales according to the following schedule: 60% in month of sale 37% in month following sale 3% in second month following sale The following sales have been budgeted: April $160,000 May $170,000 June$160,000 Budgeted cash collections in June would be Multiple Choice $160,000 $160,480 $163,700 $158,900
The BRS Corporation makes collections on sales according to the following schedule: 40% in month of...
The BRS Corporation makes collections on sales according to the following schedule: 40% in month of sale 56% in month following sale 4% in second month following sale The following sales have been budgeted: April May June Sales $150,000 $170,000 $160,000 Budgeted cash collections in June would be: Multiple Choice $160,600 $165,200 $159,200 $160,000
The BRS Corporation makes collections on sales according to the following schedule: 40% in month of...
The BRS Corporation makes collections on sales according to the following schedule: 40% in month of sale 56% in month following sale 4% in second month following sale The following sales have been budgeted: Sales April $ 150,000 May $ 170,000 June $ 160,000 Budgeted cash collections in June would be: Multiple Choice: A) $165,200 B) $159,200 C) $160,600 D) $160,000
2. Koda Corporation makes collections on sales according to the following schedule: 25% in month of...
2. Koda Corporation makes collections on sales according to the following schedule: 25% in month of sale 65% in month following the sale 5% in second month following the sale 5% uncollectible The following sales have been budgeted: April May June $120,000 $100,000 $110,000 Budgeted cash collections in June would be: A. $27,500 B. $98,500 C. $71,000 D. $115,000 3. The following information was taken from the production budget of Bazinga Corporation for the next quarter. January February March 130,000...
1a) The WRT Corporation makes collections on sales according to the following schedule: 35% in month...
1a) The WRT Corporation makes collections on sales according to the following schedule: 35% in month of sale 55% in month following sale 5% in second month following sale 5% uncollectible The following sales have been budgeted: Sales April $ 131,000 May $ 168,000 June $ 179,000 Budgeted cash collections in June would be: $62,650 $161,600 $98,950 $178,600
Saved Chapter08-Homework(E8-1,2,3,578) Exercise 8-1 Schedule of Expected Cash Collections [LO8-2] 1 Silver Company makes a product...
Saved Chapter08-Homework(E8-1,2,3,578) Exercise 8-1 Schedule of Expected Cash Collections [LO8-2] 1 Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below 10 points April $400,000 Total $1,190,000 May $600,000 June Budgeted sales (all on account) $190,000 Sipped From past experience, the company has learned that 30 % of a month's sales are collected in...
1 Exercise 8-1 Schedule of Expected Cash Collections [LO8-2) Silver Company makes a product that is...
1 Exercise 8-1 Schedule of Expected Cash Collections [LO8-2) Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below: 1.48 points Total April May #510,000 June $160,000 Budgeted sales (all on acoount) $980,000 $310.000 ellook Hint the month of sale, another 60 % are From past experience, the company has leamed that 25% of...
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...
The BRS Corporation makes collections on sales according to the following schedule: 35% in month of sale 61% in month following sale 4% in second month following sale Skloped The following sales have been budgeted: April May June Sales $120,000 $130,000 $120,000 Budgeted cash collections in June would be: Multiple Choice 0 $126,100 0 $120.000 0 $120.480 0 $121,300
The BRS Corporation makes collections on sales according to the following schedule: 60% in month of sale 37% in month following sale 3% in second month following sale The following sales have been budgeted: April $160,000 May $170,000 June$160,000 Budgeted cash collections in June would be Multiple Choice $160,000 $160,480 $163,700 $158,900
The BRS Corporation makes collections on sales according to the following schedule: 40% in month of sale 56% in month following sale 4% in second month following sale The following sales have been budgeted: April May June Sales $150,000 $170,000 $160,000 Budgeted cash collections in June would be: Multiple Choice $160,600 $165,200 $159,200 $160,000
2. Koda Corporation makes collections on sales according to the following schedule: 25% in month of sale 65% in month following the sale 5% in second month following the sale 5% uncollectible The following sales have been budgeted: April May June $120,000 $100,000 $110,000 Budgeted cash collections in June would be: A. $27,500 B. $98,500 C. $71,000 D. $115,000 3. The following information was taken from the production budget of Bazinga Corporation for the next quarter. January February March 130,000...
Saved Chapter08-Homework(E8-1,2,3,578) Exercise 8-1 Schedule of Expected Cash Collections [LO8-2] 1 Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below 10 points April $400,000 Total $1,190,000 May $600,000 June Budgeted sales (all on account) $190,000 Sipped From past experience, the company has learned that 30 % of a month's sales are collected in...
1 Exercise 8-1 Schedule of Expected Cash Collections [LO8-2) Silver Company makes a product that is very popular as a Mother's Day gift. Thus, peak sales occur in May of each year, as shown in the company's sales budget for the second quarter given below: 1.48 points Total April May #510,000 June $160,000 Budgeted sales (all on acoount) $980,000 $310.000 ellook Hint the month of sale, another 60 % are From past experience, the company has leamed that 25% of...
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