The Lawn Antique Mall expects to make purchases in the first
quarter of 2018 as follows:...
The Lawn Antique Mall expects to make purchases in the first
quarter of 2018 as follows:
January
$87,700
February
99,000
March
82,000
Purchases in December 2017 are expected to be $91,000. The company
expects that 55 percent of a month’s purchases will be paid in the
month of purchase and 45 percent will be paid in the following
month.
Estimate cash disbursements related to purchases for each month of
the first quarter of 2018.
Cash disbursements for purchases
January
February...
The Warrenburg Antique Mall expects to
make purchases in the first quarter of 2018 as follows:...
The Warrenburg Antique Mall expects to
make purchases in the first quarter of 2018 as follows:
January $95,000
February 120,000
March 85,000
Purchases in December 2017 are
expected to be $92,000. The company expects that 50 percent of a
month's purchases will be paid in the month of purchase and 50
percent will be paid in the following month.
Estimate cash disbursements related to
purchases for each month of the first quarter of 2018.
Beca Retailers expects credit sales in the next quarter as
follows:
April
$79,100
May
84,800
June...
Beca Retailers expects credit sales in the next quarter as
follows:
April
$79,100
May
84,800
June
101,000
Prior experience has shown that 64 percent of a month’s sales are
collected in the month of sale, 20 percent are collected in the
month following sale, and the remaining 16 percent are collected in
the second month following sale. February and March sales were
$82,200 and $110,000, respectively.
Estimate budgeted cash receipts for April, May, and June.
Collection of credit sales
April...
Ridgewood Retailers expects credit sales in the next quarter as
follows:
April
$63,300
May
96,200
June...
Ridgewood Retailers expects credit sales in the next quarter as
follows:
April
$63,300
May
96,200
June
113,000
Prior experience has shown that 61 percent of a month’s sales are
collected in the month of sale, 18 percent are collected in the
month following sale, and the remaining 21 percent are collected in
the second month following sale. February and March sales were
$82,200 and $107,000, respectively.
Estimate budgeted cash receipts for April, May, and June.
Collection of credit sales
April...
XYZ Company sells a product for $10. Budgeted sales for the
first quarter of the current...
XYZ Company sells a product for $10. Budgeted sales for the
first quarter of the current year are as follows:
Budgeted Sales
January $160,000
February $100,000
March $180,000
The company collects 70 percent in the month of sale and 25
percent in the following month. Five percent of all sales are
uncollectible and written off.
What would be XYZ Company’s budgeted cash receipts for
March?
Month
Budgeted Cash Sales
Budgeted Credit Sales
Budgeted Cash Purchases
Budgeted Credit Purchases
December
8,000
21,000...
Month
Budgeted Cash Sales
Budgeted Credit Sales
Budgeted Cash Purchases
Budgeted Credit Purchases
December
8,000
21,000
January
9,000
23,000
February
11,000
25,000
March
77,800
12,000
12,000
22,000
March
68,500
12,500
12,500
23,500
May
72,000
12,300
12,300
24,500
Wages & other operating expenses are estimated as
follows:
Month
Wages
Other Expenses
March
20,000
28,000
April
17,500
22,000
May
20,000
23,000
Newequipment purchased in February for $16,750 istobepaid
forin April.
New furniture purchased in March for $15,000 isto be paid...
Starfish Industries’ sales budget for the first quarter of the
upcoming year shows budgeted sales of...
Starfish Industries’ sales budget for the first quarter of the
upcoming year shows budgeted sales of $325,000, $350,000, and
$310,000 in January, February, and March, respectively. All sales
are made on credit. The cash receipts budget for March shows total
cash receipts equal to $296,780. Starfish grants a discount to
customers who pay within 10 days of the invoice. Starfish collects
60% of sales within the discount period, 20% in the month of sale
but outside the discount period, 15%...
The following is the sales budget for Profit, Inc., for the
first quarter of 2018:
January...
The following is the sales budget for Profit, Inc., for the
first quarter of 2018:
January
February
March
Sales budget
$
214,000
$
234,000
$
257,000
Credit sales are collected as follows:
60 percent in the month of the sale
25 percent in the month after the sale
15 percent in the second month after the sale
The accounts receivable balance at the end of the previous
quarter was $98,000 ($68,000 of which was uncollected December
sales).
a.
Calculate the...
4. The Khaki Company has the following budgeted sales data:
January February March April Credit Sales...
4. The Khaki Company has the following budgeted sales data:
January February March April Credit Sales $350,000 $320,000
$400,000 $360,000 Cash Sales $70,000 $90,000 $80,000 $70,000 The
regular pattern of collection of credit sales is 30% in the month
of sales, 25% in the month following sales, and the remainder in
the second month following the month of sale. There are no bad
debts. Required: a. Determine budgeted cash receipts for April. b.
Determine budgeted accounts receivable balance on March...
Nieto Company’s budgeted sales and direct materials purchases
are as follows.
Budgeted Sales
Budgeted D.M. Purchases...
Nieto Company’s budgeted sales and direct materials purchases
are as follows.
Budgeted Sales
Budgeted D.M. Purchases
January
$254,600
$39,100
February
220,900
46,100
March
326,000
48,500
Nieto’s sales are 30% cash and 70% credit. Credit sales are
collected 10% in the month of sale, 50% in the month following
sale, and 36% in the second month following sale; 4% are
uncollectible. Nieto’s purchases are 50% cash and 50% on account.
Purchases on account are paid 40% in the month of purchase,...