Beech’s managers have made the following additional assumptions and estimates: Estimated sales for July, August, September, and October will be $400,000, $420,000, $410,000, and $430,000, respectively. All sales are on credit and all credit sales are co
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Beech’s managers have made the following additional assumptions and estimates: Estimated sales for July, August, September, and October will be $400,000, $420,000, $410,000, and $430,000, respectively. All sales are on credit and all credit sales are co
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November,...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July $ 97,100 August 105,100 Forecast: September 114,200 October 94,500 November 121,900 December 107,000 Based on past experience, it is estimated that 24% of a month’s sales are collected in the month of sale, 46% are collected in the month following the sale, and 5% are collected in the second month following the sale. Required: Calculate the estimated cash...
Scottsdale Co. has actual sales for July and August and forecast sales for September October, November,...
Scottsdale Co. has actual sales for July and August and forecast sales for September October, November, and December as follows: $ 98,900 105,200 Actual: July August Forecast September October November December 114,200 94,300 121, 3ee 107,400 Based on past experience, it is estimated that 28% of a month's sales are collected in the month of sale, 49% are collected in the month following the sale, and 6% are collected in the second month following the sale. Required: Calculate the estimated...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November,...
Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July $ 97,300 August 105,300 Forecast: September 114,800 October 94,300 November 122,900 December 106,300 Based on past experience, it is estimated that 29% of a month’s sales are collected in the month of sale, 48% are collected in the month following the sale, and 9% are collected in the second month following the sale. Required: Calculate the estimated cash...
The following information is provided for Molly Corporation: Estimated Sales: August $ 60,000 September 80,000 October...
The following information is provided for Molly Corporation: Estimated Sales: August $ 60,000 September 80,000 October 70,000 November 50,000 December 100,000 20% of sales are cash sales. Of the credit sales, 60% is collected in the month of sales, 30% in the month following the sale and 10% in the second month after the sale. Other information: Purchases of inventory for October, November and December are $8,500, $10,000, and $17,500 respectively. Operating expenses are $39,000 per month. ...
The following sales and purchases forecast information pertains to Palermo Corporation: Month July August September October...
The following sales and purchases forecast information pertains to Palermo Corporation: Month July August September October November December Sales $13,000 16,000 18,000 23,000 22,500 28,400 Purchases $6,000 5,700 7,500 8,300 9,200 10,100 Based on past experience cash is typically collected from customers in the following manner: Collected within 10 days of sale so receive a 10% cash discount 25% Collected after 10 days but in the month of sale 10% Collected in the month following the sale 40% Collected in...
Bengal Co. provides the following sales forecast for the next three months: July August September Sales...
Bengal Co. provides the following sales forecast for the next three months: July August September Sales units 12,000 12,700 6,300 The company wants to end each month with ending finished goods inventory equal to 25% of the next month's sales. Finished goods inventory on June 30 is 3,000 units. The budgeted production units for August are: Multiple Choice 15,700 units. 11,125 units. 14,275 units. 11,100 units. 10,950 units.
Harrti Corporation has budgeted for the following sales: July August September October November December $448,000 $583,000...
Harrti Corporation has budgeted for the following sales: July August September October November December $448,000 $583,000 $616,500 $891,500 $ 745,000 $705,000 Sales are collected as follows: 10% in the month of sale; 60% in the month following the sale; and the remaining 30% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amoun will accounts receivable be shown?
East Company budgeted the following credit sales during the current year: August $85,000 September, $100,000; October,...
East Company budgeted the following credit sales during the current year: August $85,000 September, $100,000; October, $108,000; November, $80,000; December, $100,000. Experience has shown that cash from credit sales is received as follows: 20% in the month of sale, 60% in the first month after sale, 16% in the second month after sale, and 4% is uncollectible. All collections in the month of sale are subject to 1 percent cash discount. How much total cash can East Company expect to...
East Company budgeted the following credit sales during the current year: August $90,000 September, $100,000; October,...
East Company budgeted the following credit sales during the current year: August $90,000 September, $100,000; October, $108,000; November, $80,000; December, $100,000. Experience has shown that cash from credit sales is received as follows: 10% in the month of sale, 60% in the first month after sale, 26% in the second month after sale, and 4% is uncollectible. All collections in the month of sale are subject to 1 percent cash discount. Required: How much total cash can East Company expect...
Bengal Co. provides the following unit sales forecast for the next three months: July August September...
Bengal Co. provides the following unit sales forecast for the next three months: July August September Sales units 5,000 5,700 5,560 The company wants to end each month with ending finished goods inventory equal to 25% of the next month's sales. Finished goods inventory on June 30 is 1,250 units. The budgeted production units for July are: Multiple Choice 2,500 units. 3,750 units. 6,425 units. 5,175 units. 6,250 units.
Scottsdale Co. has actual sales for July and August and forecast sales for September October, November, and December as follows: $ 98,900 105,200 Actual: July August Forecast September October November December 114,200 94,300 121, 3ee 107,400 Based on past experience, it is estimated that 28% of a month's sales are collected in the month of sale, 49% are collected in the month following the sale, and 6% are collected in the second month following the sale. Required: Calculate the estimated...
The following sales and purchases forecast information pertains to Palermo Corporation: Month July August September October November December Sales $13,000 16,000 18,000 23,000 22,500 28,400 Purchases $6,000 5,700 7,500 8,300 9,200 10,100 Based on past experience cash is typically collected from customers in the following manner: Collected within 10 days of sale so receive a 10% cash discount 25% Collected after 10 days but in the month of sale 10% Collected in the month following the sale 40% Collected in...
Harrti Corporation has budgeted for the following sales: July August September October November December $448,000 $583,000 $616,500 $891,500 $ 745,000 $705,000 Sales are collected as follows: 10% in the month of sale; 60% in the month following the sale; and the remaining 30% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amoun will accounts receivable be shown?
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