5

Godo A medical practice bills $10,000 worth of patient visits in the month of May, but only collects $5,000 of this amount before month ends. In addition, the practice collects $3,000 from prior months' bills to patients. During May, the practice had $9,000 in total expenses but only paid $7,500 of these expenses in cash during the month. Further, the practice paid out $1,000 of expenses from prior months. What are the revenues, expenses and net income of the practice for May if it uses the cash basis of accounting?

Davis and Davis have expected sales of $490, $465, $450, and $570 for the months of January through April, respectively. The accounts receivable period is 28 days. What is the accounts receivable balance at the end of March? Assume a year has 360 days. a. $450 b. $420 c. $440 d. $426

I only need the Unpaid Expenses x Percent to Pay help. Thank you.  Schedule of Cash Payments for a Service Company EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January–March). The Accrued Expenses Payable balance on January 1 is $15,000. The budgeted expenses for the next three months are as follows:   January February March Salaries $56,900   $ 68,100   $ 72,200   Utilities 2,400   2,600   2,500   Other operating expenses 32,300   41,500   44,700   Total $91,600   $112,200   $119,400   Other operating expenses include $3,000 of monthly depreciation expense and $500 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 70% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December. Prepare a schedule of cash payments for…

Need General Accosting Method Solution

The management of Sheffield Industries estimates that credit sales for August, September, October, and November will be $525,000, $705,000, $880,000, and $465,000, respectively. Experience has shown that collections are made as follows: In month of sale 25% In first month after sale 60% In second month after sale 10% Determine the collections from customers in October and November

7. The Jacobs' expenditures for the past 7 months were: January, $1,084.45; February, $886.40; March, $968.45; April, $1,142.60; May, $995.80; June, $1,379.86; and July, $1,042.88. What is their average monthly expenditure? reserved.

Complete all requirements   <><>

Assume receivables of $20,000 at the start of the January are all collected during the month; if sales for January and February are $400,000 and $300,000 respectively; the company typically receives payment from 20% of its customers within the same month, 60% the following month, and the remaining 20% by the end of the second following month, how much would accounts receivable be at the end of February?

Answer the question using the picture Required (i) Sales budget.

The following details have been extracted from the payables' records of X Co: Invoices paid in the month of purchase 25% Invoices paid in the first month after purchase 70% Invoices paid in the second month after purchase 5% Purchases for July to September are budgeted as follows: July $250,000 August $300,000 September $280,000 For suppliers paid in the month of purchase, a settlement discount of 5% is received. What is the amount budgeted to be paid to suppliers in September?

The management of Marigold Industries estimates that credit sales for August, September, October, and November will be $550,000, $735,000, $885,000, and $480,000, respectively. Experience has shown that collections are made as follows: In month of sale   25%   In first month after sale   60%   In second month after sale   10%   Determine the collections from customers in October and November

June sales were $6,000 while projected sales for July and August were $6,900 and $2,000, respectively. Sales are 45% cash and 55% credit. All credit sales are collected in the month following the sale. What are the total expected collections for July? OA. $7,305 OB. $6,405 OC. $6,495 OD. $4,205

During October, Keliihoomalu Clinic budgeted for 2,700 patient-visits, but its actual level of activity was 2,200 patient-visits. Revenue should be $27.30 per patient-visit. Personnel expenses should be $21,100 per month plus $6.80 per patient-visit. Medical supplies should be $500 per month plus $4.90 per patient-visit. Occupancy expenses should be $5,700 per month plus $0.90 per patient-visit. Administrative expenses should be $3,700 per month plus $0.40 per patient-visit. Required: Prepare the clinic's flexible budget for October based on the actual level of activity for the month. What is net operating income per the flex budget?

Hillary's Health Food Store has estimated monthly current asset financing requirements for the next six months as follows: January February March April May June Current Assets Temporary Permanent $6,000 $4,000 $1,000 $4,000 $2,000 $4,000 $6,500 $4,000 $5,000 $4,000 $2,000 $4,000 Projected annual borrowing rates for the next six months are: January February 6.0% April 12.0% May 9.0% June 7.0% March 9.0% Short- Term Long- Term 5.0% 9.6% 9.6% 9.6% 9.6% 9.6% 9.6% Required: a. Assuming the company follows the hedging strategy, calculate the TOTAL dollar interest payments for the six months. b. If the company implemented a risky strategy would you expect total dollar interest payments to be higher or lower, briefly explain your answer (calculation not required).

Wiggles Right forecasted sales of $5,000 in October, $4,000 in November, and $4,000 in December. All sales are on credit. 40% is collected the month of sale, and the remainder the following month. How much is collected from accounts receivable in November? Group of answer choices $6,000 $4,600 $5,400 $4,800

Desiccate purchases direct materials each month. Its payment history shows that 70% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment schedule for March if in January through March, it purchased $39,000, $37,000, and $42,000, respectively. Cash paid in March Month of purchase   Month after purchase   Total

Current Attempt in Progress The management of Riverbed Industries estimates that credit sales for August, September, October, and November will be $575,000, $700,000, $875,000, and $490,000, respectively. Experience has shown that collections are made as follows: In month of sale 25% In first month after sale 60% In second month after sale 10% Determine the collections from customers in October and November. (Do not leave any field blank. Enter O for the amounts.) October November Collections from Customers August Sales September Sales October Sales November Sales 2$ $. Total budgeted collections eTextbook and Media Attempts: 0 of 3 used Submit Answer. Savetor La hp %24 %24

Need Help

am.111.

please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)

Marcel Company projects the following sales for the first three months of the year: $13,500 in January; $12,200 in February, and $10,500 in March. The company expects 60% of the sales to be cash and the remainder on account Sales on account are collected 50% in the month of the sale and 50% in the following month. The Accounts Receivable account has a zero balance on January 1. Round to the nearest dollar. Read the requirements. Requirements 1. Prepare a schedule of cash receipts for Marcel for January, February, and March. What is the balance in Accounts Receivable on March 31? 2. Prepare a revised schedule of cash receipts if receipts from sales on account are 60% in the month of the sale, 30% in the month following the sale, and 10% in the second month following the sale. What is the balance in Accounts Receivable on March 31? Ouruary CASH SHIVJ Print March-Cash sales February-Credit sales, collection of February sales in February February-Credit sales, collection of February sales…

Nickel City Arcade is forecasting its sales for its peak summer season. One important part of the total sales amount is the daily admissions fees. Nickel City has a maximum capacity of 600 people per day. Each person pays an admission fee of $5. Here are the expected usage rates during the months of June, July, and August. June 30 days 50% July 31 days 70% August 31 days 40% What is the total forecasted amount of admissions fees for the months June through August? $161,100 $158,900 $132,700 $147,300