Marga Corporation has the following historical pattern of credit sales: 70% during the month of sale 4% in the third month after sale 15% in the first month after sale 1% uncollectible  10% in the second month after sale   Required: Compute for the total cash collections during the 4th calendar quarter. A/R balance on the Balance Sheet as of Dec. 31

Q: Equarter by month. Cash sales are 10% of total sales each month. Historically, sales on ccount lave…

A: The cash collection schedule is prepared to estimate the cadh collection during the period.

Q: Historically, Ragman Company has had no significant bad debt experience with its customers. Cash…

A: A budget involves estimation of expected revenues and expenses of an entity over a specific time…

Q: Oman chromite company LLC had sales last year of OMR 500,000, including cash sales of OMR 208,000.…

A: Accounts receivable = Credit Sales * Average collection period / 365

Q: The Cash balance on Jan 01 of the Cowan Company is $ 5000. Sales and purchases for the first four…

A: Cash budget is the very important budget in the organisation by which expected cash receipts and…

Q: the following are forecasts of sales and purchases for a company.                     Sales…

A: Formula: Cash collections = Sales value x Amount collection percentage

Q: The company began business on January 1 of the current year. The first quarter sales are estimated…

A: First quarter mean January, February, March.

Q: Oman company had $180,000 sales on credit last year. The accounts receivable balance was $14,000…

A: Given: Credit sales = $180,000 Accounts receivables = $14,000

Q: Sequoia Furniture Company's sales over the past three months, half of which are for cash, were as…

A: A. Collection period is 60 days. Half of the sales of each month are credit Thus credit sales of…

Q: As of January 1 of the current year, Phyllis Company had accounts receivable of $50,000. The sales…

A: A cash budget is an estimation of income and expenditures on the basis of past performance or…

Q: Garden Gate, Inc. reported the following data in its August 31 annual report. Cash and cash…

A: cash burn refers to the cash available in an organization for the given period to maintain its…

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

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

Q: The following are forecasts of sales and purchases for KWANGYA Company: Sales Purchases April…

A: Cash payment is the amount of money paid in order to recompense the expenses.

Q: Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry"…

A: PARTICULARS OCTOBER NOVEMBER DECEMBER Receipts from cash sales:       Cash sales $133000 * 25%…

Q: 1.A financial analyst for Carroll Company has prepared the following sales and cash disbursement…

A: Cash budget is a pre-planned record of expenditures and revenues. It is used to estimate the…

Q: Arizona Co. had the following historical pattern for its credit sales: 30% collected in the month of…

A: Formula: Cash collection amount = Credit sales x cash collection percentage.

Q: On December 1, 2011, the Itami Wholesale Co. is attempting to project cash receipts and…

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: Schedule of Cash Collections on Accounts Receivable and Cash BudgetBennett Inc. found that about 15%…

A: The budgets are prepared to estimate the requirements for the future.

Q: Ratchet Manufacturing anticipates total sales for August, September, and October of $300,000,…

A: Formula: Cash collection amount = Sales value x Cash collection ratio

Q: Marga Corporation has the following historical pattern of credit sales 70% during the month of sald…

A: The cash collection against the accounts receivable depends on the credit policy followed by the…

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

A: Cash Budget is an important device to plan and control cash receipts and payments. it shows the…

Q: Determine the estimated cash collected on customers' accounts in June.

A: For Customers receiving discount: May month collection in June = (140000*15%) - 2% discount = $20580…

Q: December). It posted the following sales figures for the third quarter of 2014: $1,939,000 (July),…

A: Introduction Cash budget: Cash budget is an estimate of cash receipts and cash payments for a future…

Q: Premium-Inn had the following estimated cash flows for the first quarter:    January  February…

A: Cash budget is one of the important budget being prepared in business. It shows expected cash…

Q: Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and…

A: June collections= (25% of may collections)+ (75% of June collections) Where, 25% of May collections…

Q: Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers…

A: Schedule of cash collection is prepared to calculate the company's collection from receivables for…

Q: Accounting has supplied the following information from our ERP system:Data: Sales over last 30 days…

A: Cash conversion cycle is the total time period taken by the firm to complete its operating cycle. It…

Q: As of January 1 of the current year, Grayson Company had accounts receivable of $40,000. The sales…

A: Credit sales for January = total sales x 80% = $120,000 x 80% = $96,000

Q: chedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers…

A: Cash collection schedule is prepared to estimate the total receipts of a particular period. Total…

Q: Calculate the net accounting profit for December. Calculate the net cash flow for December. Comment…

A: net accounting profit for the month of December = sales - purchases…

Q: Schedule of Cash Collections on Accounts Receivable and Cash Budget Bennett Inc. found that about…

A: Accounts receivable refers to the balance amount to the firm for goods and services delivered but…

Q: Schedule of Cash Collections of Accounts Receivable Office World Inc. has "cash and carry"…

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

Q: The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and…

A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

Q: Historically, Ragman Company has had no significant bad debt experience with its customers. Cash…

A: Cash sales = 20% Total sales = Cash sales + Credit sales Credit sales = 80% The calculation are…

Q: The following are forecasts of sales and purchases for KWANGYA Company: Sales Purchases April…

A: Cash flows are the cash generated from the operation of the business organisation. In other words,…

Q: from the following data of nature’s herbs company, prepare a sales forecast and schedule of cash…

A: The sales which were on credit would receive the amount as per the time specified in the credit…

Q: Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers…

A: Calculation of Cash Sales and Credit Sales   OfficeMart Inc.    October   November   December…

Q: The table contains the Sales estimates for the next year. Sales are collected as follows:In the…

A: Cash collection in November will be 20% of August sales, 14% of September Sales, 23% of October…

Q: Historically, Ragman Company has had no significant bad debt experience with its customers.Cash…

A: Cash flow forecasting, often known as capital forecasting, is a means of predicting the flow of…

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: Marcel Company projects the following sales for the first three months of the year: $11,200 in…

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

Q: Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and…

A: June collections= (25% x May month sales) + (75% x June month sales) 25% of May month sales = (15%…

Q: The company has received a large order and anticipates the need to go to the bank to increase its…

A:

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.