Juneau limited purchases all of its inventory on credit and always pays suppliers in the month following the purchase in order to receive a 9% discount. The purchases in April were $56,383. What was the cash paid to suppliers in May?

Q: Worton Distributing expects its September sales to be 25% higher than its August sales of $154,000.…

A: August Sales = $154,000 September Sales = $154,000 + 25% = $192,500   Cash Collection in September…

Q: Eddie's Bar and Restaurant Supplies expects its revenues and payments for the first part of the year…

A: Cash Budget is that Ledger / Account which is prepare on estimated figure basis for know the Cash…

Q: Jane MacDonald, Carroll Financial Analyst, prepared the following sales and cash disbursement…

A: Cash budget is the forecasting of the cash revenues and expenditures that an entity might plan to…

Q: Cash collections for Wax On Candles found that 58% of sales were collected in the month of the sale,…

A: Cash budget means expected cash receipts and expected cash payment with opening and closing cash…

Q: Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that…

A: WORKING NOTE : 1) The cash sales for any month will be: 0.20 * Sales of that month. 2) Cash…

Q: Marlin Company projects the follwoing sales for the first thre months of the year: $11500 in…

A: Working Note Particulars  January   February   March  Total Budgeted Sales      11,500…

Q: Magenta Corporation has the following sales forecasts for the selected three-month period for the…

A: Cash Budget: Cash Budget is a schedule to record cash inflows and outflows over a period with a view…

Q: ports Socks has a policy of always paying within the discount period and each of its suppliers…

A: ACCOUNTS PAYABLE; is an accounting entry that is recorded in the balance sheet. they are paid after…

Q: OfficeMart Inc. has “cash and carry” customers and credit customers. OfficeMart estimates that 25%…

A:

Q: All sales are made on credit terms of net 30 days and are collected the following month and no bad…

A: Income statement means a statement which shows the expenses and revenue of the organisation during a…

Q: Dai Hing Bookshop Ltd. has a beginning cash balance of $44,000 on November 1. The firm has projected…

A: November collection = 15/30 x 61000 + 68000 x15/30 = $64500 December collection = 15/30 x 68000 +…

Q: iscount of 2% if paid within 10 days of purchase. Because of the purchase policy, 80% of its…

A: As we already know that 80% of the payment is made in the following month and 20% the following…

Q: OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25%…

A: October November December Total sales 58,000 65,000 72,000 Less: Cash sales (Total sales x…

Q: Dolittle and Dalley has $4,000 in purchases for January and $5,000 in purchases for February. It…

A: January month accounts receivable =   January sales ×  ( 100 % - percentage collected in the month…

Q: Dolittle and Dalley has $4,000 in purchases for January and $6,000 in purchases for February. It…

A: Total Cash payments for inventory  in February  = (Purchases for February ×70%) + (Purchases of…

Q: UIO Company makes all of its sales on account. UIOcollects its account as follows: 20% in the month…

A: The account receivables are the assets of the business which would be converted into cash within one…

Q: Blue Company's accountant Bella has prepared the below forecasted credit sales for the quarter July…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Sports Socks has a policy of always paying within the discount period and each of its suppliers…

A: Budget provides financial estimates of future course of action like sales budget, cash payments…

Q: OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 25%…

A: Prepare a schedule of cash collections from sales for October, November and December as shown below:…

Q: J.TOY Inc., was organized on August 1 of the current year. Projected sales for the next three months…

A: There are three conditions of cash collection:    Cash sales is 40% of total sales and 60% on…

Q: NUBD Company makes all of its sales on account. NUBD collects its account as follows: 20% in the…

A: Ending Balance = Beginning Balance + Credit Sales - Payments received from Customers

Q: Trapp Co. was organized on August 1 of the current year.  Projected sales for the next  three months…

A: A cash budget is an estimation of expected cash receipts and disbursements on the basis of past…

Q: Rivers Company purchases merchandise on account. In general, Rivers pays 50% in the month of…

A: Cash disbursements are used in the cash budget. It indicates the amount to be collected and paid in…

Q: d.                                                             Cash Receipts…

A: Jan Feb Mar   Total Sales Value         90,000        1,10,000        1,20,000   Sale in…

Q: Sports Socks has a policy of always paying within the discount period and each of its suppliers…

A: Accounts payable is the total of all amounts due to suppliers for goods or services received that…

Q: All purchases of ANGEL Merchandising are made on account, Eighty percent of the purchases are paid…

A: The forecast that indicates the cash outlays and receipts for a period is cash budget.

Q: Dolman's, an elite clothier, expects its November sales to be 30% higher than its October sales of…

A: Given information is: Cash balance in November beginning = $9000 October Sales = $200000 November…

Q: Eddie's Bar and Restaurant Supplies expects its revenues and payments for the first part of the year…

A: The cash budget is an estimation of the cash receipts and cash payments for each month or a period…

Q: Jasper Company has 61% of its sales on credit and 39% for cash. All credit sales are collected in…

A: The cash budget is prepared to record the cash receipts and cash payments during the period.

Q: A firm collects 25% of its credit sale in the month of sale and the remainder in the following…

A: The external finance is the amount that is needed by the company to continue their operation and or…

Q: Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the…

A: Cash budget means expected cash receipts and expected cash payment with opening and closing cash…

Q: Eastern Auto Parts Inc. has 15 percent of its sales paid for in cash and 85 percent on credit. All…

A: The cash receipts schedule presents the pattern in which the business entity expects to collect cash…

Q: balance in accounts payable for January 31, and February 28?

A:

Q: All sales are made on credit terms of net 30 days and are collected the following month and no bad…

A: The cash flows statement and cash budget show the inflows and outflows of cash during the year. Cash…

Q: Galaxy Lighting Company manufactures and sells lighting fixtures. Estimated sales for     the next…

A: Cash budget refers to the complete estimation of business cash flow for a particular period of time.

Q: Sports Socks has a policy of always paying within the discount period and each of its suppliers…

A: The ending balance of account payable represents the amount due from suppliers but not paid yet.

Q: All sales are made on credit terms of net 30 days and are collected the following month and no bad…

A: Preparation of Monthly Proforma Income Statement for the Quarter ending December 31, 2020:-…

Q: Beta Company collects 80% of a month's sales in the month of sale and 20% of sales in the following…

A: Cash collections for October = (October sales x 80%)  + (September sales x 20%)

Q: ABC Company manufactures and sells lighting fixtures. Estimated sales for the next three months are;…

A: Here in this question we will required to prepare budgets. Budget is a estimation of management…

Q: Avery Company projects the following sales for the first three months of the​ year: $13,500 in…

A: Jan Feb Mar   Cash Sales 10800 12720 12640 Credit Sales 1350 2940 3170 Total Cash…

Q: Pardee Company makes 30% of its sales for cash and 70% on account. 60% of the account sales are…

A: Cash sales 30% + 70% credit sales = 100% sales out of the 70 % the collection is made as follows:…

Q: The table contains the Sales estimates for the next year. The Purchases are 55% of Sales.…

A: Outflow of cash refers to the cash going out of the business. It includes the amount of money paid…

Q: Jasper Company has 57% of its sales on credit and 43% for cash. All credit sales are collected in…

A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…

Q: Dream Big Pillow Co. pays 65% of its purchases in the month of purchase, 30% the month after the…

A: Given, 5% of December purchase is paid in February 30% of January purchase is paid in February 65%…

Q: Trapp Co. was organized on August 1 of the current year.  Projected sales for the next three months…

A: Cash collections schedule represents the cash collected by an entity during a specific period by…