Budgeted credit sales

Assignment Help Accounting Basics
Reference no: EM13148660

Company's past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5 % in the second month after the sale; the remainder is never collected. Budgeted credit sales were:

Reference no: EM13148660

Questions Cloud

Budgeted direct-labor costs for june : The direct labor hours are 11,000 and the direct labor rate is $10.50. Budgeted direct-labor costs for June would be:
Compute the projected profit for the order quantities : Compute the projected profit for the order quantities suggestedby the management team under three scenarios: worst case in whichsales = 10,000 units, most likely case in which sales = 20,000units.
Explain fluride ion is poisonous in relatively low amounts : fluride ion is poisonous in relatively low amounts. 0.2 g of F per 70 kg of body weight cause death . nevertheless, inorder to drinking water at a cencetration of 1 mg of F ion per L of water
What will happen to oxygen consumption in a reaction : What will happen to oxygen consumption in a reaction flask after the addition of pyruvate and predict how oxygen consumption will change in the flask upon the addition of pyruvate and ADP?
Budgeted credit sales : Company's past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5 % in the second month after the sale; the remainder is never collected. Budgeted credit sales were:
Confidence interval for population proportion-defective disc : Random from a large production had 8 defective discs. Determine a 98% confidence interval for the population proportion of the defective disc drives.
Choose any one of the following eukaryotic cell structures : Choose any one of the following eukaryotic cell structures.
Equilibrium mixture is compressed at constant temperature : the equilibrium mixture is compressed at constant temperature to a volume of 6.21 L? [NH3] = [H2S]=
Determining balance of retained earnings : In April 2006, ABC Motors had Total Sales of $100,000; Total Expenses of $60,000 and a beginning balance of Retained Earnings of $25,000. The company will pay a $10,000 dividend this month (the dividend was declared this month as well). What is th..

Reviews

Write a Review

Accounting Basics Questions & Answers

  Financial statement analysis

he gross profit on the sale of a pair of shoes is 39%,if expenses are 25% of the selling price and the cost price is $17.95, what is the selling price and the gross profit in dollars?

  Shut down condition for a competitive firm-norm fish

orm Fish makes cheap fishing rods and operates in a competitive market.  The company has a fixed cost of $20,000 per period.  In addition the firm incurs production or variable costs depending on its output as follows:

  Compute the group charitable contribution deduction

ParentCo's separate taxable income was $350,000, and SubCo's was $225,000. Consolidated taxable income before contributions was $400,000. Charitable contributions made by the affiliated group included $15,000 by ParentCo and $20,000 by SubCo. Comp..

  Declaration and issuance of the stock dividend

A company with 100,000 authorized shares of $4 par common stock issued 50,000 shares at $9. Subsequently, the company declared a 2% stock dividend on a date when the market price was $10 a share. The effect of the declaration and issuance of the s..

  What is inflation premium on five-year bonds

The real risk-free rate is r* = 2.80%, the default risk premium for Crockett's bonds is DRP = 0.85% versus zero for T-bonds, the liquidity premium on Crockett's bonds is LP = 1.25%, and the maturity risk premium for all bonds is found with the for..

  Current market rates and bonds

If current market rates rise what will happen to the value of outstanding bonds?

  Develop a document flowchart

The individual stores in the Mark Goodwin convenience chain prepare two copies of goods requisition form (GRF) when they need to order merchandise from the central warehouse.

  Accounting multiple choice questions

Suppose that the total cost for your current year in college equals $20,000. Approximately how much would your parents have required to invest twentyone years ago in an account paying 8 percent compounded annually to cover this amount?

  What is the net income over the period

If the firm issued no stock during the year, the dividends issued were $100, what's the net income over the period?

  Estimating the stocks price per share

The company has 10 million shares of stock outstanding. What is the best estimate of the stock's price per share?

  Operating activities section of the statement of cash flows

Prepare the cash flows from Operating Activities section of the statement of cash flows, using the indirect method. If the direct method had been used, would the net cash flow from operating activities have been the same? Explain

  Discuss how the provision for income taxes

Discuss generally how revenue should be recognized at interim dates and specifically how revenue should be recognized for industries subject to large seasonal fluctuations in revenue and for long-term contracts using the percentage-of-completion m..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd