Romper Company expects its November sales to be 20% higher than its October sales, which were $165,000. All sales are on credit and are collected as follows: 35% in the month of the sale and 60% in the following month. Purchases were $110,000 in October and are expected to be $140,000 in November. Purchases are paid 40% in the month of purchase and 60% in the following month. The cash balance on November 1 is $13,500. The cash balance on November 30 will be Select one: a. $46,300 b. $59,800 c. $52,050 d. $32,800 e. $54,500 f. $69,300

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: Jasper Company has 62% of its sales on credit and 38% for cash. All credit sales are collected in…

A: April May June  Cash sales 38%  $196,460  $200,260 $209,760   Sales on…

Q: The Cannon Ball has projected its first quarter sales at $11,200, second quarter sales at $10,900,…

A: Calculation of cash surplus (deficit) at the end of the first quarter: Answer: Cash deficit at the…

Q: Marker Products, Inc. sells all of its products on credit. The company expects to collect 65%of…

A:

Q: Wiggles Right forecasted sales of $4,000 in January, $6,000 in February and $5,500 in March.  All…

A: Given data; January sales = $4000 February sales = $6000 March sales = $5500 40% of sales is in same…

Q: what are the expected cash payments in July?

A: In the given case, Purchases in june = P130000 Purchases in july  = P124000 Given that NUBD pays for…

Q: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is…

A: Cash collected means total cash received from :- (i) Cash sales  (ii) Cash received from debtors.…

Q: Wolverine, Inc. began operations on January 1 of the current year with a $12,000 cash balance. Forty…

A: The cash budget shows the position of cash inflow and outflow during a period of time. Budgets are…

Q: Eastern Auto Parts Inc. has 30 percent of its sales paid for in cash and 70 percent on credit. All…

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

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: Sales for Smith Company are expected to be $270,000 for February and $320,000 in March. The…

A: Miscellaneous expense for March = sales x 10% = $320000 x 10% = $32,000

Q: A firm has actual sales in November of $1,000 and projected sales in December and January of $3,000…

A: Credit sales refer to the sales in which the customer is given some time to pay for the goods…

Q: AXE Co. expects to have sales of P30,000 in January, P33,000 in February, and P38,000 in March. If…

A: Credit sales are the sales in which the corporation does not get the receipts from the sales of…

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: Wichita Industries' sales are 10% for cash and 90% on credit. Credit sales are collected as follows:…

A: Cash Budget: This budget gives an estimation of all the cash inflows and outflows of business for…

Q: what are the cash receipts from sales in February?

A:

Q: oque Company has been accumulating operating data in order to prepare an annual profit plan. Details…

A: The accounting items that are reported as financial records include assets, liabilities,…

Q: Shown below is the sales forecast for Cooper Inc. for the first four months of the coming year Apr…

A: Cash inflows in March = cash sales + cash collected in month of march

Q: Earthie’s Shoes has 55% of its sales in cash and the remainder on credit. Of the credit sales, 70%…

A: The cash receipts are different from the sales revenue because some part of sales are made in cash…

Q: lion company expects $650,000 of credit sales in march and $800,000 of credit sales in april. lion…

A: The cash budget keeps the records of cash requirements in the business.

Q: Golden Sun Company had sales of Tk.95,000 in December. It expects sales of Tk.70,000 in January.…

A: A cash budget is the estimation of cash inflow and cash outflow during a particular period. A cash…

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: Simpson Glove Company has made the following sales projections for the next six months. All sales…

A: Answer -    The Cash Receipts Schedule -  A cash receipts schedule/ budget shows the pattern and…

Q: The Danser Corporation expects to generate sales equal to $30,000 in January, $33,000 in February,…

A: Total cash collection for March is 20% of March sales, 50% of February Sales and 30% of January…

Q: AXE Co. expects to have sales of P30,000 in January, P33,000 in February, and P38,000 in March. If…

A: Credit sales are purchases made by customers for which payment is delayed. Delayed payments allow…

Q: The Palos Company expects sales for June, July, and August of $48,000, $54,000, and $44,000,…

A: Credit sales: Sales are made to customer but payment will be delayed to a future date. Formulas:

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

A: Cash sales means the sales which are done by the seller against cash receipts. So, cash sales are…

Q: Cash Collections for Belcher Motors found that 35% of its sales were cash and the remaining 65% are…

A: The cash collection during the quarter depends on the percentage of cash sales and credit sales and…

Q: Danner Inc. has projected sales to be $100,000 in June, $90,000 in July, and $70,000 in August.…

A: Month Projected Sales Amount June $100000 July $90000 August $70000

Q: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is…

A: Cash sales in August = Total sales x 30% = $95,000 x 30% = $28,500

Q: Roque Company has been accumulating operating data in order to prepare an annual profit plan.…

A: This is monthly budgeting of the company.  Based on…

Q: (b) The budgeting section of-the corporate finance department of Atlas Products Company has received…

A: Cash Budget Worksheet           December  January  February  March Budget of receipts from sales…

Q: The management of Marigold Industries estimates that credit sales for August, September, October,…

A: The cash collection is done as per the collection schedule.  Collection for October include 25% of…

Q: Sy Co. has the collection schedule of 65% during the month of sales, 15% the following month, and…

A: In the given question, it is specified that 65% of credit sales of a month are collected in that…

Q: Cash Collections for Belcher Motors found that 35% of its sales were cash and the remaining 65% are…

A: Cash Collection in Q3 = Cash Sales + Cash Collection from Credit Sales   Cash Collection from Credit…

Q: Gilmore Company needs to know its anticipated cash inflows for the next quarter by month. Cash sales…

A: Accounts receivable represents the income that has been earned but not yet received.

Q: Steve’s total cash collections in the month o

A: Total cash collections in June = 20% * sales of June + 65% * sales of May + 15% * sales of April

Q: E Company has forecast sales to be $225,000 in February, $235,000 in March, $250,000 in April, and…

A: Budget is prepared to estimate the sales in following years and further cash and credit sales.

Q: Graham Potato Company has projected sales of $11,400 in September, $14,500 in October, $21,400 in…

A: Cash receipt schedule represents the total cash collected in a particular period by the company and…

Q: Fast Distribution Company expects its September sales to be 20% higher than its August sales of…

A: Cash balance at the end of September 30 can be calculated by using this equation Cash balance at end…

Q: Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter…

A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…

Q: In 2021, Chatsworth Company expects sales of $40,000 in July, $50,000 in August, and $30,000 in…

A: The cash receipts during period consists of receipts from current sales and receipts from past…

Q: Earthie's Shoes has 55% of its sales in cash and the remaining 45% are credit sales. Of the credit…

A: Collection in June will be: Cash sales of June. 70% of credit sales of June. 15% of credit sales of…

Q: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is…

A: Cash sales for August = Total sales x 30% = $93,000 x 30% = $27,900