1. Budgeted Cash Receipts: | ||
November: | ||
Cash sales = | $ 95,000 | |
Collection of accounts receivable: | ||
From Oct Sales: | ||
(115000*(1-0.05))*0.4*0.75*(1-0.015) | $ 32,283 | |
(115000*(1-0.05))*0.4*(1-0.75) | $ 10,925 | |
From Nov Sales: | ||
(114000*(1-0.05))*0.6*0.75*(1-0.015) | $ 48,004 | |
(114000*(1-0.05))*0.6*(1-0.75) | $ 16,245 | $ 202,457 |
December: | ||
Cash sales = | $ 95,000 | |
Collection of accounts receivable: | ||
From Nov Sales: | ||
(114000*(1-0.05))*0.4*0.75*(1-0.015) | $ 32,003 | |
(114000*(1-0.05))*0.4*(1-0.75) | $ 10,830 | |
From Dec Sales: | ||
(104500*(1-0.05))*0.6*0.75*(1-0.015) | $ 44,004 | |
(104500*(1-0.05))*0.6*(1-0.75) | $ 14,891 | $ 196,728 |
2. Budgeted Cash Disbursements: | ||
November: | ||
From Nov sales: | ||
(199500*(1-0.3))*0.2 | $ 27,930 | |
From Oct sales: | ||
(209000*(1-0.3))*0.8 | $ 117,040 | $ 144,970 |
December: | ||
From Dec Sales: | ||
(190000*(1-0.3))*0.2 | $ 26,600 | |
From Nov Sales: | ||
(199500*(1-0.3))*0.8 | $ 111,720 | $ 138,320 |
Timpco, a retailer, makes both cash and credit sales (.e., sales on open account). Information regarding budgeted sales...
Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November $ 95,000 114,000 209,000 December $ 95,000 104,500 Cash sales 115,000 115,000 230,000 Credit sales 199,500 Total Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40% are collected in the month...
Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales $ 115,000 $ 95,000 $ 95,000 Credit sales 115,000 114,000 104,500 Total $ 230,000 $ 209,000 $ 199,500 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40% are...
Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales $ 140,000 $ 115,000 $ 105,000 Credit sales 140,000 138,000 115,500 Total $ 280,000 $ 253,000 $ 220,500 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40% are...
Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: Cash sales Credit sales Total October $ 120,000 120,000 $ 240,000 November $ 99,000 118,800 $ 217,800 December $ 97,000 1 06,700 $ 203,700 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40%...
Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: November $59,000 October December $ 65,000 65,000 $130,000 $77,000 Cash sales Credit sales 70,800 $ 129,800 84,700 $161,700 Total Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40% are collected in the month...
Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales $ 125,000 $ 103,000 $ 99,000 Credit sales 125,000 123,600 108,900 Total $ 250,000 $ 226,600 $ 207,900 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40% are...
Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales $ 155,000 $ 127,000 $ 111,000 Credit sales 155,000 152,400 122,100 Total $ 310,000 $ 279,400 $ 233,100 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40% are...
Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales $ 150,000 $ 123,000 $ 109,000 Credit sales 150,000 147,600 119,900 Total $ 300,000 $ 270,600 $ 228,900 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40% are...
Timpco, a retailer, makes both cash and credit sales (ie, sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: Cash sales Credit sales Total October $ 100,00 160,000 5 200.000 November $ 120.000 150,000 $ 270, eee December $ 80,000 90,000 $ 170,000 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40%...
please solve all the queations, thanks. [LO 10-4) 10-26 Budgeted Cash Receipts and Cash Disbursements Timpco, a retailer, makes both cash and credit sales (.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales Credit sales $100,000 100,000 $200,000 $ 120.000 150,000 $ 270,000 $ 80,000 90,000 $ 170,000 Total Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are...