Shown below are the budgeted sales for ABC Company for the next six months: Sales...
Shown below are the budgeted sales for ABC Company for the next six months:
Sales for Cash Sales on
Account
January
$15,000
$ 70,000
February
$18,000
$ 80,000
March
$14,000
$160,000
April
$26,000
$120,000
May
$18,000
$170,000
June
$24,000
$105,000
On average, 35% of the sales on account are collected
in the month of sale,
40% are collected in the month following sale, 10% are collected in
the
second month following sale, and the remaining 15% is collected
three months
after the month of sale.
Calculate ABC Company's budgeted accounts receivable at June 30
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Shown below are the budgeted sales for ABC Company for
the next six months:
Sales...
Shown below are the expected sales for ABC Company: January February March April Sales for Cash...
Shown below are the expected sales for ABC Company: January February March April Sales for Cash $22,000 $19,000 $26,000 $21,000 Sales on Account $118,000 $146,000 $133,000 $127,000 On average, 65% of the sales on account are collected in the month of sale, 27% are collected in the month following sale, and the remaining 8% are collected two months after the month of sale. Calculate ABC Company's budgeted accounts receivable at April 30.
Shown below are the expected sales for ABC Company: Sales on Account $118,000 $146,000 Sales for...
Shown below are the expected sales for ABC Company: Sales on Account $118,000 $146,000 Sales for Cash $22,000 $19,000 January February $133,000 $127,000 $26,000 March $21,000 April On average, 65% of the sales on account are collected in the month of sale, 27% are collected in the month following sale, and the remain ing 8 % are collected two months after the month of sale. Calculate the expected cash collections for March. Shown below are the expected sales for ABC...
ABC company has budgeted $100,000 of sales for January Sales are 80% cash and 20% on...
ABC company has budgeted $100,000 of sales for January Sales are 80% cash and 20% on credit Credit sales are collected 100% in the month following the sale A/R at Dec 31 = $15,000 What are the cash collections for January? Select one: O $15,000 none of the answers is correct $95,000 O $100,000 ABC company has budgeted $200,000 of sales for January. Sales are 80% credit and 20% cash Credit sales are collected 100% in the month following the...
ABC company has budgeted the following sales. January February Sales (on Income statement) $100,000 $200,000 Sales...
ABC company has budgeted the following sales. January February Sales (on Income statement) $100,000 $200,000 Sales are 60% credit and 40% cash Credit sales are collected 30% in the month of sale, 70% in the month following the sale A/R at Dec 31 = $60,000 What are the cash collections for January and February? Select one: $58,000 for January and $158,000 for February $40,000 for January and $80,000 for February $118,000 for January and $158,000 for February none of the...
ABC company has budgeted the following sales. January $100,000 February $200,000 Sales (on Income statement) Sales are...
ABC company has budgeted the following sales. January $100,000 February $200,000 Sales (on Income statement) Sales are 80% credit and 20% cash Credit sales are collected 100% in the month following the sale A/R at Dec 31 = $85,000 What are the cash collections for January and February? Select one: O $20,000 for January and $40,000 for February O $105,000 for January and $120,000 for February O none of the answers is correct O $20,000 for January and $120,000 for...
Marple Company's budgeted production in units and budgeted raw materials purchases over the next three months...
Marple Company's budgeted production in units and budgeted raw materials purchases over the next three months are given below: February January 60,000 March 100,000 Budgeted Production (in Units) Budgeted Raw Materials: Purchases (in Kilograms) 129,000 165,000 188,000 Two kilograms of raw materials are required to produce one unit of product. The company wants raw materials on hand at the end of each month equal to 30% of the following month's production needs. The company is expected to have 36,000 kilograms...
Simpson Glove Company has made the following sales projections for the next six months. All sales...
Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales. March April May $41,000 June 50,000 July 32,000 August $47,000 58,000 62,000 Sales in January and February were $41,000 and $39,000, respectively. Experience has shown that of total sales receipts 10 percent are uncollectible, 40 percent are collected in the month of sale, 30 percent are collected in the following month, and 20 percent are collected two months after sale. Prepare...
Laura's Decor Stores made the following sales projection for the next six months. All sales are...
Laura's Decor Stores made the following sales projection for the
next six months. All sales are credit sales.
march 38,000
April 44,000
may 33,000
june 42,000
july 50,000
august 52,000
sales in january and february were $41,000 and $40,000
respectively
experience has shown that total sales, 10% are uncollectible,
35% are collected in the month of sale, 45 percent are collected in
the following month and 10 percent are collected two months after
sale.
a) prepare a monthly cash receipts...
Budgeted sales in Washburn Company over the next four months are given below: September October November...
Budgeted sales in Washburn Company over the next four months are given below: September October November December Budgeted sales $100,000 $160,000 $180,000 $120,000 Twenty-five percent of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's credit sales are collected in the month of sale, 30% are collected in the month following sale, and 15% are collected in the second month following sale. The...
Ed’s Waterbeds has made the following sales projections for the next six months. All sales are...
Ed’s Waterbeds has made the following sales projections for the next six months. All sales are credit sales. March $ 32,000 June $ 36,000 April 38,000 July 44,000 May 27,000 August 46,000 Sales in January and February were $35,000 and $34,000 respectively. Experience has shown that 10 percent of total sales are uncollectible, 30 percent are collected in the month of sale, 40 percent are collected in the following month, and 20 percent are collected two months after sale. a....
Shown below are the expected sales for ABC Company: January February March April Sales for Cash $22,000 $19,000 $26,000 $21,000 Sales on Account $118,000 $146,000 $133,000 $127,000 On average, 65% of the sales on account are collected in the month of sale, 27% are collected in the month following sale, and the remaining 8% are collected two months after the month of sale. Calculate ABC Company's budgeted accounts receivable at April 30.
Shown below are the expected sales for ABC Company: Sales on Account $118,000 $146,000 Sales for Cash $22,000 $19,000 January February $133,000 $127,000 $26,000 March $21,000 April On average, 65% of the sales on account are collected in the month of sale, 27% are collected in the month following sale, and the remain ing 8 % are collected two months after the month of sale. Calculate the expected cash collections for March. Shown below are the expected sales for ABC...
ABC company has budgeted $100,000 of sales for January Sales are 80% cash and 20% on credit Credit sales are collected 100% in the month following the sale A/R at Dec 31 = $15,000 What are the cash collections for January? Select one: O $15,000 none of the answers is correct $95,000 O $100,000 ABC company has budgeted $200,000 of sales for January. Sales are 80% credit and 20% cash Credit sales are collected 100% in the month following the...
ABC company has budgeted the following sales. January February Sales (on Income statement) $100,000 $200,000 Sales are 60% credit and 40% cash Credit sales are collected 30% in the month of sale, 70% in the month following the sale A/R at Dec 31 = $60,000 What are the cash collections for January and February? Select one: $58,000 for January and $158,000 for February $40,000 for January and $80,000 for February $118,000 for January and $158,000 for February none of the...
ABC company has budgeted the following sales. January $100,000 February $200,000 Sales (on Income statement) Sales are 80% credit and 20% cash Credit sales are collected 100% in the month following the sale A/R at Dec 31 = $85,000 What are the cash collections for January and February? Select one: O $20,000 for January and $40,000 for February O $105,000 for January and $120,000 for February O none of the answers is correct O $20,000 for January and $120,000 for...
Marple Company's budgeted production in units and budgeted raw materials purchases over the next three months are given below: February January 60,000 March 100,000 Budgeted Production (in Units) Budgeted Raw Materials: Purchases (in Kilograms) 129,000 165,000 188,000 Two kilograms of raw materials are required to produce one unit of product. The company wants raw materials on hand at the end of each month equal to 30% of the following month's production needs. The company is expected to have 36,000 kilograms...
Simpson Glove Company has made the following sales projections for the next six months. All sales are credit sales. March April May $41,000 June 50,000 July 32,000 August $47,000 58,000 62,000 Sales in January and February were $41,000 and $39,000, respectively. Experience has shown that of total sales receipts 10 percent are uncollectible, 40 percent are collected in the month of sale, 30 percent are collected in the following month, and 20 percent are collected two months after sale. Prepare...
Laura's Decor Stores made the following sales projection for the
next six months. All sales are credit sales.
march 38,000
April 44,000
may 33,000
june 42,000
july 50,000
august 52,000
sales in january and february were $41,000 and $40,000
respectively
experience has shown that total sales, 10% are uncollectible,
35% are collected in the month of sale, 45 percent are collected in
the following month and 10 percent are collected two months after
sale.
a) prepare a monthly cash receipts...
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