c. Assume that Seifert Stores sold $25,000,000 of merchandise in February, which generated 12,500,000 printed sales receipts. The merchandise sold cost $16,500,000. Siefert Stores estimates that 15% of the $2 off coupons printed in February will be redeemed before they expire April 30. What is the balance of Estimated Coupons Payable on April 30? PLEASE NOTE: $3,750,000; $562,500; $1,875,000; $21,250,000; $7,225,000 are all INCORRECT answeres.

Zane Corporation has an inventory conversion period of 64 days,an average collection period of 28 days, and a payables deferral period of 41 days.a. What is the length of the cash conversion cycle?b. If Zane’s annual sales are $2,578,235 and all sales are on credit, what is the investmentin accounts receivable?c. How many times per year does Zane turn over its inventory? Assume that the cost ofgoods sold is 75% of sales. Use sales in the numerator to calculate the turnover ratio.

Carson Ltd. has prepared the following 2021 projections for its beverage company: Sales Month Cash Sales Credit Sales May $ 16,000 $ 68,000 June 20,000 80,000 July 18,000 74,000 August 24,000 92,000 September 22,000 76,000   Receivables have been historically collected at the following rates: 40% in the month of sale 45% in the month following sale 15% two months after sale Inventory Purchases Month Purchase Amounts May $ 70,000 June 72,000 July 74,000 August 78,000 September 80,000   40% of purchases are paid for in cash in the month of sale, and the balance is paid the following month.                     General Costs In addition to purchases, Carson has the following monthly costs: Salaries and wages: $ 8,000 Rent: $4,000 General costs are paid in the month incurred. Other Information Carson plans on declaring and issuing $5,000 in dividends in July, and to purchase new equipment valued…

Setia Sdn Bhd had cash of RM13,000 on hand together with trade debtors' outstandingbalance of RM55,000 as of January 1. During the year, the company expected thefollowing sales to customers by quarter, with collection terms of 50% in cash and 50% incredit receivable in the next quarter:   first second third fourth Sales 110,000 245,000 122,400  149,600 Direct materials purchases in metric tons (MT) costing RM 50.00 per MT payable in thea same quarter is as follows:   first second third fourth Direct Material Purchases 1,300 1,500 1,100  1,000 The production budget showed the following unit production by quarter with an averagelabor wage rate of RM40.00 payable in the same quarter:   first second third fourth unit to be produced 1,500  2,000 1,700 1,500 Setia Sdn Bhd planned to pay dividends of RM10,000 per quarter during the year. InJuly, a new equipment costing RM60,000 will be purchased. An additional cost ofRM16,000 was planned for its installation during the…

The Zocco Corporation has an inventory conversion period of 60 days, an average of collection period of 38 days, and a payable deferral period of 30 days. Assume that cost of goods sold 75% of sales. a. What is the length of the firm’s cash conversion cycle? a. Zocco’s annual sales are $3,421,875 and all sales are on credit, what is the firm’s investment in accounts receivable? b. How many times per year does Zocco turn over its inventory?

On January 1, 20x1, ABC Co. sold inventory costing ₱1,800,000 with a list price of ₱2,200,000 and a cash price of ₱2,000,000 in exchange for a ₱2,400,000 noninterest-bearing note due on December 31, 20x3.How much is the initial measurement of the receivable?

the following are forecasts of sales and purchases for a company.                     Sales                     Purchases April         P 80,000                   P 30,000 May            90,000                       40,000 June            85,000                       30,000 All sales are on credit. Records show that 70% of the customers pay the month of the sale 20% pay the month after the sale, and the remaining 10% pay the second month after the sale. Purchases are all paid the following month at a 2 percent discount. cash disbursements for operating expenses in June were P5,000.   1. Prepare a schedule of cash receipts and disbursements for June.

National Co. has an inventory conversion period of 60 days, a receivable conversion period of 35 days, and a payable payment period of 45 days. The National Co.’s variable cost ratio is 65% and annual fixed costs of P600,000. The current cost of capital for National Co. is 12%.If National Co.’s annual sales are P3,375,000 and all sales are on credit, what is the firm’s carrying cost on accounts receivable, using 360 days year?

Hickory Furniture Company paid for the following costs during the month of May:          Inventory purchases $ 40,000   Advertising costs   8,000   Delivery costs   2,000     Hickory sold $32,000 of the inventory and has agreed to pay warranty expenses for its customers. These are expected to be $1,600 and occur evenly over the next four months (i.e., starting in June). What is the amount of Hickory’s cash-basis expenses for the month of May?

The Lux Co. has an inventory conversion period of 60 days, a receivable conversion period of 35 days, and a payable payment period of 45 days. The Lux Co.’s variable cost ratio is 65% and annual fixed costs of P600,000. The current cost of capital for National Co. is 12%.If Lux Co.’s annual sales are P3,375,000 and all sales are on credit, what is the firm’s carrying cost on accounts receivable, using 360 days year?