Cash Discounts. ISCoun
Q: Define the term loan cash flow?
A: Statement of cash flow: It refers to a financial statement that shows all the cash payments and…
Q: factored. What is the total cash received from the financing of receivables?
A: Loan is the amount that an individual, company, or corporation owed for financing its activities and…
Q: a) Prepare Cash Book
A:
Q: Control risk in cash
A: Risk is referred as uncertainty or loss. Financial risk is referred as the variability of actual…
Q: Define each of the following terms:h. Trade (cash) discounts
A: Trade discount: Trade discount is considered as a particular proportion a producer is ready to…
Q: Calculate the cash discount and the net amount due the transaction (in $).
A: A reduction in the amount of invoice price that a company provides to its customer to motivate them…
Q: Show how to calculate cash payments for selling and administrative expenses, and cash payments for…
A: The cash payment against an expense refers to the payment made during the accounting period for that…
Q: Instructions Prepare a schedule of cash payments.
A: Schedule of cash payments: It is a statement to report the expected cash payments to be done by…
Q: Define Money market
A: Answer: Money market is a market place where the short-term securities transactions are made. It…
Q: Please give me an information about : cash reciepts, capital investments, loans, interest payment,…
A: Every feild had its own terminology. Same is with Accounting. Accounting has its own terminology,…
Q: Explain the difference between a trade discount and a cash discount.
A: Discount is the deduction from the cost of product or service that a seller offers to the buyer…
Q: How to calculate balance c/d when preparing an adjusted cash book?
A: Cashbook adjustments are used to correct input errors or adjust miscellaneous debits or credits in…
Q: e cash T-account?
A: The credit side of cash T-account represents payments made by cash.
Q: How can cash discounts be used to influence sales volume and the DSO?
A: Days Sales Outstanding (DSO) is the total amount of days it takes to turn credit transactions into…
Q: Describe Financing cash inflows that includes cash received.
A: Statement of cash flows: This statement reports all the cash transactions which are responsible for…
Q: Define cash disbursements journal.
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
Q: Trade Discount and Cash Discounts
A: Trade discount Purchase price * Rate of trade discount Purchase price $2,000 Rate of trade…
Q: Discuss the relationship between Credit View and Monetary Policy.
A: Monetary Policy:Monetary Policy is a policy that is planned and implemented by the central bank of a…
Q: Determine cash flow and other financial effects a. Cash collection schedule
A: Budgeted cash collection is the expected cash is to be collected in a particular month for the…
Q: Define each of the following terms:a. Cash discounts
A: The discount is an amount that is deducted from the selling price of the product or service.
Q: Write a note on cash discounts.
A:
Q: Define Statement of cash fl ows
A: A cash flow statement provides data regarding all cash inflows a company receives from its ongoing…
Q: Distinguish between the gross and net methods of accounting for cash discounts.
A: Cash discount: A cash discount is a reduction in the amount that is to be paid by the credit…
Q: Explain how receivables can be converted to cash before maturity.
A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…
Q: Explain the posting process of the cash payments journal.
A: Cash payment Journal: A journal which is used to record cash payments by check and cash for the…
Q: Why do companies offer a cash discount?
A:
Q: What do you understand from trade and cash discount? How to calculate trade discount, cash discount…
A: SOLUTION- To increase sales revenue and attract more buyers, every company offers trade and cash…
Q: average cash balance (ro
A: Average cash balance refers to the amount determined by an officer of a company dividing by the…
Q: Define cash balance plan
A: Introduction: A cash-balance plan is a pension plan in which an employee's final returns are stated…
Q: Define target cash balance
A: Target cash balance - it is a level of cash balance that an entity have to hold or reserve for its…
Q: What is the Relevant cash-now information?
A: Relevant cash- flow refer to after-tax gradual cash-flow anticipated from a proposed procurement or…
Q: WHERE DOES A CASH PURCHASE FALLS ON THE CASH BUDGET
A: A cash budget is a tool that indicates the amount of available cash is appropriate or not for the…
Q: what is credit transactions?
A: credit transactions:- Credit transaction is a transaction of which the repayment of money loaned…
Q: cash payments journal.
A: Cash payments journal is an accounting record to update the cash payments made during a particular…
Q: - in cash.
A: 1 175000 2 190000
Q: cash and cash equivalents
A: Cash and cash equivalents are assets in balance sheet that can be converted into cash quickly.
Q: How could the cash budget be used when negotiating the terms ofa bank loan?
A: Budgets are prepared by the companies to make sure that resources needed for the operating,…
Q: Describe about the Cash rebates obligation.
A: Cash: Cash is the money which is readily available in the form of currency. Since cash can be easily…
Q: What are the credit transfer markets?
A: Financial market is called as a place where all securities such as bonds, shares, debentures etc.…
Q: Prepare Cash collection schedule
A: Cash collection schedule is the schedule which shows expected cash to be collected from cash sales…
Q: Define each of the following terms:i. Credit policy; credit period; credit standards; collection…
A: CREDIT POLICY- ''Guidelines that spell out a way to decide which customers area unit sold-out on…
Q: Differentiate savings account from a current or checking account.
A: A bank is an institution that deals with money and credit. It accepts deposits from the public,…
Q: the cash interest paid is:
A: Bonds are issued by company to raise funds for running business. Bonds are issued either at par…
Q: how to you calculate partial payments during cash discount time
A: Partial payments within the discount period are computed by multiplying the partial payment credit…
Q: How should I think about the discount rate in a discounted cash flow model, and what it means (in…
A: Discount rates are the rates at which cash flows over the estimated time period are discounted.…
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- Calculate the cash discount and the net amount due the transaction (in $). (Round your answers to the nearest cent.) Amount ofInvoice Terms ofSale CashDiscount NetAmount Due $7,010.20 4/10, n/30 $ $Considering the financial statement information below for the The C’mon Cam! Co., how long is the cash cycle? Item Beginning EndingInventory $9,338 $11,550Accounts Receivable 5,670 6,947Accounts Payable 7,689 9,625 Net Sales $82,544Cost of Goods Sold $58,638 a. 28 daysb. 39 daysc. 65 daysd. 93 daysGreen Company uses the Baumol model tomanage its disbursement account. Monthlycash disbursement is P1,200,000. Cash in thisaccount could have earned 5% on moneymarketable securities. Green incurs P576every time cash is transferred to this account.The optimum cash balance is A. 576,000.00B. 166,276.88C. 124,707.66D. 432,000.00
- buying and sellingWhat is the total cash discount if an invoice dated March 31 for P 15,000 with a payment terms of 3/20; 1/30; n/60 is paid in full on April 20?Week 7Below is information about Lisa Ltd’s cash position for the month of June 2019.1. The general ledger Cash at Bank account had a balance of $21,200 on 31 May.2. The cash receipts journal showed total cash receipts of $292,704 for June.3. The cash payments journal showed total cash payments of $265,074 for June.4. The June bank statement reported a bank balance of $41,184 on 30 June.5. Outstanding cheques at the end of June were: no. 3456, $1,448; no. 3457, $84; no. 3460, $70 andno. 3462, $410.6. Cash receipts of $10,090 for 30 June were not included in the June bank statement.7. Included on the bank statement were: a dishonoured cheque written by a client James Ltd, $136 a credit for an electronic transfer from a customer of $644 interest earned, $44 account and transaction fees, $120Required:a) Update the cash receipts and cash payments journals by adding the necessary adjustments andcalculate the total cash receipts and cash payments for June. b) Post from cash receipts and…In the credit terms 1/10, n/30, what does the "1" represent? Group of answer choices number of days when the entire amount is due number of days in the discount period full amount of the invoice 1% cash discount if paid within the credit period
- general journal Return good bought from Ali amounting to Rm20 and settle amount due by cash after receiving discount of 5%Write up the Fasihatul Enterprise two-column cashbook for the following details and balance it off at the end of the month. Cash Date (2020) Details RM Date Details RM Jul-01 Capital 30000 Jul-02 Bank 25000 11 Sales 150 7 Purchases 400 29 Sales 300 15 Plus SdnBhd 600 21 Carriage outwards 160 30 Salary expenses 850 31 Balance c/d 3440 30450 30450 Aug-01 Balance b/d 3440 Bank Date (2020) Details RM Date Details RM Jul-02 Cash 25000 Jul-05 Equipment 3000 23 Sales 180 19 Rent expense 450 27 Electricity expense 45 31 Balance c/d 21685 25180 25180 Aug-01 Balance b/d 21685 Prepare two column cash book. Close the account.What would be the cash disbursements for month 3? Description Month 1 Month 2 Month 3 Month 4 Material Purchases $ 175,000.00 $ 185,000.00 $ 215,000.00 $ 190,000.00 Amount paid in month of purchase 65.00% Amount paid in month after purchase 30.00% Amount paid two months after purchase 5.00% Discounts in month of purchase 3.50% Discount in month after purchase 1.00% Total Cash disbursements in month 3 Show your work below Description Month 1 Month 2 Month 3
- 10) olo traders has the following transactions for the month of February 2019. 9- Goods purchased and paid cash of RO 2,200 14- Paid Salaries of RO 800 19- Paid cash of RO 2,500 to NBO for the payment of loan. 24- Paid RO 6,600 to Black traders for the goods purchased on credit. Calculate and show the amount which will be transferred to Others column of Cash payments book for the month of February 2019? a. RO 12,100 b. RO 5,500 c. RO 2,200 d. RO 3,300An invoice dated April 22 shows a net price of $175.00 with the terms 3/10, n/30. What is the latest date the cash discount is allowed?M&N Ltd sells security doors. Majority of its sales are on credit except small amount of cashsales each year. The accounting records at 30 June 2019 reveal the following. Ignore GST. Please see image for clear info Credit sales (for the year of 2019) $2,100,000Cash sales (for the year of 2019) 20,000Credit sales returns and allowances (for the year of 2019) 80,000Accounts receivable (balance at 30 June 2019) 593,000Allowance for doubtful debts (credit balance at 30 June 2019) 2,800The company’s yearly bad debts expense had been estimated at 2.5% of net credit sales revenue inthe past. The management of M&N Ltd has decided to compare the current method with anageing of accounts receivable method. The following analysis was obtained with respect to theaccounts receivable..Balance % of estimated uncollectable (Please see image for clear info)Accounts not yet due $351,200 1Accounts overdue 10 - 30 days 92,000 331 - 60 days 78,000 1061 - 120 days 40,800 30121 days and over 31,000…