Question

Month Revenue is Earned Patient service revenue for month Cash receipts by month Total cash receipts...

Month Revenue is Earned Patient service revenue for month Cash receipts by month Total cash receipts for month for the month of service
Jan 65,000
Feb 75,00
March 95,000
April 105,000
May 85,000
June 85,000
Totals

Cash lags are as follows

Cash collected in month of service: 40%

Cash collected in month after month of service: 40%

Cash collected two months after month of service: 5%

Please fill in the above table

Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

we are assuming that balance 15% amount we have received in one month after of service

Month Revenue is Earned Patient service revenue for month Cash receipts by month Total cash receipts for month for the month of service
Jan 65,000 26,000.00 26,000.00
Feb 75,00 29,000.00 3,000.00
March 95,000 50,750.00 38,000.00
April 105,000 84,375.00 42,000.00
May 85,000 90,625.00 34,000.00
June 85,000 88,500.00 34,000.00
Totals 369,250.00 177,000.00
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Ellis Sport Shop projects the following sales: April May June $ 65,000 $ 85,000 $ 105,000...
Ellis Sport Shop projects the following sales: April May June $ 65,000 $ 85,000 $ 105,000 Eighty-five percent of Ellis' sales are on credit with 55 percent of receivables collected in the month after the sale and the rest of receivables collected in the second month after the sale. February sales were $55,000 and March sales were $65,000. In the past Ellis' bad debt percentage has been 0 and is expected to continue. a) Prepare a monthly schedule of cash...
Cash Receipts The sales budget for Perrier Inc. is forecasted as follows: Month Sales Revenue May...
Cash Receipts The sales budget for Perrier Inc. is forecasted as follows: Month Sales Revenue May $130,000 June 150,000 July 200,000 August 130,000 To prepare a cash budget, the company must determine the budgeted cash collections from sales. Historically, the following trend has been established regarding cash collection of sales: 60 percent in the month of sale. 20 percent in the month following sale. 15 percent in the second month following sale. 5 percent uncollectible. The company gives a 2...
XYZ Company usually sells about 40% of its merchandise during a month for cash, 40% collected...
XYZ Company usually sells about 40% of its merchandise during a month for cash, 40% collected in the month after sale, and 10% in two months after the sale – 10% of the sales are never collected. Total budgeted sales for the second quarter are as follows: April $200,000 May 100,000 June 150,000 Assume all questions relate to the month of June. 1. What are the expected receipts in June from accounts receivable for sales made in April? 2. What...
Elsa and Anna operate a business that manufactures frozen foods. They are preparing a cash budget...
Elsa and Anna operate a business that manufactures frozen foods. They are preparing a cash budget for the second quarter of 2020. Because of COVID-19 they expect 90% of March sales will be collected in June and customers have been informed that they do not need to pay until then. The other 10% of March sales will be collected in March. After March, they anticipate that collections will return to normal, where 40% of sales are collected in the month...
Markissons’ Plastics Company has presented you with forecasted cash receipts and expenditure for the period April...
Markissons’ Plastics Company has presented you with forecasted cash receipts and expenditure for the period April to June 2016. They are as follows:      Cash Receipts Expenditure     $    $ March         75,000     April     69,000    73,000     May     77,000    39,000    June              105,000    59,000 Further analysis revealed the following:  Expenditure for the period March to June includes monthly depreciation of $4,000.  Payment for the cash related expenditure would be 25% in the month of purchase, the balance being paid the following month....
Schedule of Cash Collections of Accounts Receivable Bark & Purr Supplies Inc., a pet wholesale supplier,...
Schedule of Cash Collections of Accounts Receivable Bark & Purr Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for each of the first three months of operations are as follows: May $184,000 June 192,000 July 201,000 All sales are on account. Sixty percent of sales are expected to be collected in the month of the sale, 35% in the month following the sale, and the remainder in the second month following the sale. Prepare a...
Topez Service anticipates the following sales revenue over a​ five-month period: November December January February March...
Topez Service anticipates the following sales revenue over a​ five-month period: November December January February March Sales Revenue $16,200 $10,800 $15,400 $12,200 $14,800 The​ company's sales are 40% cash and 60% credit. Its collection history indicates that credit sales are collected as​ follows: 25% in the month of the sale 50% in the month after the sale 20% two months after the sale 5% are never collected How much cash will be collected in​ January? In​ February? In​ March? For...
Fill in the missing amounts (there are six numbers that you need to find…labeled as (A)...
Fill in the missing amounts (there are six numbers that you need to find…labeled as (A) through (F)) in the following Cash receipt schedule. Enter ONLY the number (NO dollar sign). Round your answer to the nearest digit. Sales in the month of March = $192,000    Half of each month's sales are on account.  60%of credit sales is collected in the month of sale.    40%of credit sales is collected in the following month.                               April May June    Sales $256,000 $192,000 $289,200    Cash receipts:          From cash sales$(A)$(B) $144,600    From sales...
April May June Sales* $264,000 $198,000 $298,800 Cash receipts: From cash sales $132,000 $99,000 $149,400 From...
April May June Sales* $264,000 $198,000 $298,800 Cash receipts: From cash sales $132,000 $99,000 $149,400 From sales on account† 280,500 112,200 Total cash receipts $412,500 $211,200 *Half of each month’s sales are on account. March sales amounted to $198,000. †60% of credit sales is collected in the month of sale; 40% is collected in the following month.
Schedule of Cash Payments for a Service Company Horizon Financial Inc. was organized on February 28....
Schedule of Cash Payments for a Service Company Horizon Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $52,400 April 64,200 May 68,900 Depreciation, insurance, and property taxes represent $9,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. Seventy percent of the remainder of the expenses are...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT