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Preparing the schedule of cash receipts for the months of March and April Prepare schedule of cash payments for the months of March and April Preparing the cash budget for the months of March and April

Preparing the schedule of cash receipts for the months of March and April Prepare schedule of cash payments for the months of March and April Preparing the cash budget for the months of March and April

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter8: Inventories: Special Valuation Issues
Section: Chapter Questions
Problem 11RE: Johnson Corporation had beginning inventory of 20,000 at cost and 35,000 at retail. During the year,...
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The monthly marketing cost is estimated at 15% of the planned sales value for the month and is paid in the month in which it occurred. As for the monthly administrative costs, it amounts to 46,000 riyals, including the annual depreciation of 27,000 riyals, and is paid in the month in which it occurred as well. Required: Preparing the schedule of cash receipts for the months of March and April Prepare schedule of cash payments for the months of March and April Preparing the cash budget for the months of March and April
Transcribed Image Text:The monthly marketing cost is estimated at 15% of the planned sales value for the month and is paid in the month in which it occurred. As for the monthly administrative costs, it amounts to 46,000 riyals, including the annual depreciation of 27,000 riyals, and is paid in the month in which it occurred as well. Required: Preparing the schedule of cash receipts for the months of March and April Prepare schedule of cash payments for the months of March and April Preparing the cash budget for the months of March and April
A company that sells products by marketing one product and selling it for 35 riyals and selling it for 40 riyals. This company planned its sales as follows: Month January February March April May Sales 33,000 43,000 47,000 $1,000 48,000 The cash balance at the beginning of March included 4,800 riyals. 65% of purchases are paid in the month of purchase, and the remainder is paid in the month following purchase. The company collects its sales as follows: 60% in the same month after a 4.5% discount is granted, 23% in the following month, 14% in the second month after the month of sale, and 3% not collected. Purchases in February: 34,000 riyals, March: 45,000 riyals, and April 50,000 riyals.
Transcribed Image Text:A company that sells products by marketing one product and selling it for 35 riyals and selling it for 40 riyals. This company planned its sales as follows: Month January February March April May Sales 33,000 43,000 47,000 $1,000 48,000 The cash balance at the beginning of March included 4,800 riyals. 65% of purchases are paid in the month of purchase, and the remainder is paid in the month following purchase. The company collects its sales as follows: 60% in the same month after a 4.5% discount is granted, 23% in the following month, 14% in the second month after the month of sale, and 3% not collected. Purchases in February: 34,000 riyals, March: 45,000 riyals, and April 50,000 riyals.
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