Calculate January Total Receipts (Labeled X Below): February $15,000 $6,000 January Sales $10,000 Current Month $4,000 Collection (40%) Previous Month $0 Collection (60%) Total Cash Receipts Estimated Cash $3,000 Payments (100%) Net Cash Flow Y $8,000 $14,000 X $4,000 $7,000 $6,000 $12,000 $15,000 Z March $20,000 $8,000 $9,000 $17,000 $12,000 $5,000

Calculate January Total Receipts (Labeled X Below): February $15,000 $6,000 January Sales $10,000 Current Month $4,000 Collection (40%) Previous Month $0 Collection (60%) Total Cash Receipts Estimated Cash $3,000 Payments (100%) Net Cash Flow Y $8,000 $14,000 X $4,000 $7,000 $6,000 $12,000 $15,000 Z March $20,000 $8,000 $9,000 $17,000 $12,000 $5,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 18E

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Calculate January Net Cash Flow (Labeled Y Below): January $10,000 $4,000 Sales Current Month Collection (40%) Previous Month Collection (60%) Total Cash Receipts Estimated Cash Payments (100%) Net Cash Flow O $17,000 O $1,000 $7,000 $22,000 $14,000 $0 X $3,000 Y February $15,000 $6,000 $6,000 $12,000 $15,000 Z March $20,000 $8,000 $9,000 $17,000 $12,000 $5,000
Calculate January Net Cash Flow (Labeled Y Below): January $10,000 $4,000 Sales Current Month Collection (40%) Previous Month Collection (60%) Total Cash Receipts Estimated Cash Payments (100%) Net Cash Flow O $17,000 O $1,000 $7,000 O $22,000 O $14,000 $0 X $3,000 Y February $15,000 $6,000 $6,000 $12,000 $15,000 Z March $20,000 $8,000 $9,000 $17,000 $12,000 $5,000 PE Pawan das LIE LASER 7 1956 FRENTE BATHARK FO praco Ver P Seher von N Su SE PARE PANE V F BY S TOLEN LETTE E 478 F Me ASPER 2 Fulde P EVE SA 20 CHRIC SU BAGHE 1250 T PARFSE 1620
Calculate February Net Cash Flow (Labeled Z Below): January February March Sales $10,000 $15,000 $20,000 Current Month Collection (40%) $4,000 $6,000 $8,000 Previous Month Collection (60%) $0 $6,000 $9,000 Total Cash Receipts X $12,000 $17,000 Estimated Cash Payments (100%) $3,000 $15,000 $12,000 Net Cash Flow Y Z $5,000 Group of answer choices $54,000 $27,000 $15,000 $3,000 ($3,000)
Fernando Company developed the following data for the month of August:1. August 1 cash balance P123,000.2. Cash sales in August P800,000.3. Credit sales for August are P300,000; for July P400,000; and for June P400,000. 70% of credit sales are collected in the month of sale, 15% in thefollowing month, and 10% in the second month following the sale. 4. Purchases for July were P500,000 and for August are P400,000. One-fourth of purchases are paid in the month of purchase and the remaining three-quarters in the following month. 5. August salaries are P314,000, utilities are P32,200, and depreciation on the building and equipment is P100,000. Required:1. Anticipated cash receipts from accounts receivable in August.
Fernando Company developed the following data for the month of August:1. August 1 cash balance P123,000.2. Cash sales in August P800,000.3. Credit sales for August are P300,000; for July P400,000; and for June P400,000. 70% of credit sales are collected in the month of sale, 15% in thefollowing month, and 10% in the second month following the sale. 4. Purchases for July were P500,000 and for August are P400,000. One-fourth of purchases are paid in the month of purchase and the remaining three-quarters in the following month. 5. August salaries are P314,000, utilities are P32,200, and depreciation on the building and equipment is P100,000. Required:4. Anticipated cash balance on August 31.
Fernando Company developed the following data for the month of August:1. August 1 cash balance P123,000.2. Cash sales in August P800,000.3. Credit sales for August are P300,000; for July P400,000; and for June P400,000. 70% of credit sales are collected in the month of sale, 15% in thefollowing month, and 10% in the second month following the sale. 4. Purchases for July were P500,000 and for August are P400,000. One-fourth of purchases are paid in the month of purchase and the remaining three-quarters in the following month. 5. August salaries are P314,000, utilities are P32,200, and depreciation on the building and equipment is P100,000. Required:2. Anticipated total cash available from all sources in August.3. August cash payments for purchases made in July and August.
1. Bongo Drumz Inc had the following pattern of sales for the months indicated: Sales Nov $48,000 Dec $60,000 Jan $66,000 Feb $68,000 Mar $67,000 Apr May Of the sales, 20% were collected in the current month, 50% were collected in the second month, and 30% were collected in the third month. Required: Calculate total cash receipts for January, February, and March, and the total amount of accounts receivable at the end of March.
For the month of December, the records of ABC Corporation show the following information:Cash received on accounts receivable ₱ 70,000Cash sales 60,000Accounts Receivable, December 1 148,000Accounts Receivable, December 31 160,000Accounts Receivable written-off as uncollectible 2,000How much are the gross sales in December?
Assume the Day sales outstanding (DSO) 36 days, Sales revenues $500,000, calculation based on 360 day per year. Calculate account receivables (A/R)? O a. $100,000 O b. $150,000 O c. $50,000 d. $250,000
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
You are provided with the following information taken from Sage Hill Inc's March 31, 2027, balance sheet. Cash Accounts receivable Inventory Property, plant, and equipment, net of depreciation Accounts payable Common stock Retained earnings 1 2 3. 5. 6. 7. Additional information concerning Sage Hill Inc. is as follows. Gross profit is 24% of sales. Actual and budgeted sales data: March (actual) April (budgeted) March April $18.840 $47.100 $62460 $12,280 72.700 23.120 37,100 123,400 22,910 Sales are both cash and credit, Cash collections expected in April are: 152.900 12.320 (40% of $47.100) (60% of $72,700) Half of a month's purchases are paid for in the month of purchase and half in the following month Cash disbursements expecte Purchases March Purchases April $22,910 28,910 $51820 Cash operating costs are anticipated to be $12,110 for the month of April. Equipment costing $2,530 will be purchased for cash in April. The company wishes to maintain a minimum cash balance of $12,240. An…
Prepare a cash Collection Schedule for Producers Inc. For the months of March, April and May 2022 using the ff. data: Jan Feb Mar Apr P78,300 May P83,000 Sales P75,300 P82,100 P88,000 Cash Basis 30% Credit Basis 70% (50% collected in month of Sales, 30% in month after sale and 20% 2 mos after sale)