The following information pertains to Ko Wei Sdn Bhd: Month Sales Purchases RM RM July 30,000 10,000 August 34,000 12,000 September 38,000 14,000 October 42,000 16,000 November 48,000 18,000 December 60,000 20,000 Cash is collected from customers in the following manner: Month of sale (2% cash discount) 30% Month following sale 50% Two months following sale 15% Amount uncollectible 5% 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month.
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The following information pertains to Ko Wei Sdn Bhd: Month Sales Purchases RM RM July 30,000 10,000 August 34,000 12,000 September 38,000 14,000 October 42,000 16,000 November 48,000 18,000 December 60,000 20,000 Cash is collected from customers in the
The following information pertains to Acme Corporation: Month Sales Purchases July 30,000 10,000 August 34,000 12,000 September 38,000 14,000 October 42,000 16,000 November 48,000 18,000 December 60,000 20,000 Cash is collected from customers in the following manner: Month of sale 35% Month following sale 50% Two months following sale 15% 40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month. How much are total cash collections for the 4th...
3) The following information pertains to Amigo Corporation: Month July August September October November December Sales $30,000 34,000 38,000 42,000 48,000 60,000 Purchases $10,000 12,000 14,000 16,000 18,000 20,000 Cash is collected from customers in the following manner: Month of sale 40% Month following sale 40% Two months following sale 20% • 60% of purchases are paid for in cash in the month of purchase, and the other 40% is paid the following month. Required: Complete the cash budget for...
3) The following information pertains to Amigo Corporation: Month Sales Purchases July $30,000 $10,000 August 34,000 12,000 September 38,000 14,000 October 42,000 16,000 November 48,000 18,000 December 60,000 20,000 • Cash is collected from customers in the following manner: Month of sale 40% Month following sale 40% Two months following sale 20% • 60% of purchases are paid for in cash in the month of purchase, and the other...
The following information pertains to Amigo Corporation: Month Sales Purchases July $30,000 $10,000 August 34,000 12,000 September 38,000 14,000 October 42,000 16,000 November 48,000 18,000 December 60,000 20,000 Cash is collected from customers in the following manner: Month of sale 45% Month following sale 40% Two months following sale 10% Amount uncollectible 5% 50% of purchases are paid for in cash in the month of purchase, and the other 50% is paid the...
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...
Type The following information pertains to Stark Corporation Month Jan Feb Mar Apr May June sales and Purchases $30,000 $10000 34,000 12000 38,000 14000 42,000 16000 48,000 18000 60,000 20000 Cash is collected from customers in the following manner 30% Month of sale* 50% Month following sale 15% Two months following sale 5% Amount uncollectible *Customers paying in the month of sale receive a 2% cash discount. 40% of purchases are paid for in cash in the...
estion 6: Master Budgetine - Time: 40 minutes . Total: 24 marks The following information pertains to Stark Corporations Month Jan Feb Mar Apr $30,000 34.000 38.000 42,000 48,000 60,000 Purchases $10.000 12,000 24,000 16,000 18,000 20.000 May June Cash is collected from customers in the following manner: Month of sale Month following sale Two months following sale Amount uncollectible 30% 50% 15% 5 % customers paying in the month of sale receive a 2% cash disco 40% of purchases...
August Budgeted sales are: Month Sales revenue $12,000 September $14,000 October $15,000 November $15,000 December $10,000 You collect 50% of sales revenue as cash in the month of the sale, 40% in the following month, and 10% two months after the sale a) Compute budgeted cash inflows for October and November October $ November - $ Remember to go backwards in time: .9., 40% of September revenue is collected in the following month (October). This implies that cash inflows for...
During the last week of August, Oneida Company's owner approaches the bank for a $105,000 loan to be made on September 2 and repaid on November 30 with annual interest of 12%, for an interest cost of $3150. The owner plans to increase the store's inventory by $60,000 during September and needs the loan to pay for inventory acquisitions. The bank's loan officer needs more information about Oneida's ability to repay the loan and asks the owner to forecast the...