User Account

All Pages

Calculate the cash collections from accounts receivable

Assignment Help Accounting Basics
Reference no: EM132183316

Question - Benjamin Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $250,000, $300,000, and $420,000, respectively, for September, October, and November. The company expects to sell 20% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 25% in the month following the sale, and the remainder in the following month.

The cash collections from accounts receivable in October are

a. $270,000.

b. $272,500.

c. $210,000.

d. $218,000.

Reference no: EM132183316

Questions Cloud

Find operating activities under the indirect method : Baxter Company reported a net loss of $17,098 for the year ended December 31. During the year, operating activities under the indirect method
What is sub culture and is there portland sub culture : What is sub culture? Is there a “Portland” sub culture? If so how is it different, or not, from other places you have lived or visited?
Review problem on improving workplace communication : Research proven communication methods through four scholarly journal articles. Conclude the plan with justification as to why the three action items.
Scietific revolutions in relation to public administration : What is Kuhn and the Structure of Scietific Revolutions in relation to Public Administration?
Calculate the cash collections from accounts receivable : Benjamin Corporation began its operations on September 1 of the current year. The cash collections from accounts receivable in October are
Explain the critique of the management principles tradition : What is Kuhn and the Structure of Scientific Revolutions in relation to Public Administration? Explain the Critique of the Management Principles Tradition
Calculate the profit margin for stevenson : Blancher Corporation had $495,000 in invested assets, sales of $660,000, The profit margin for Stevenson is
Explain the tools and tactics to be used : In this assignment, you will prepare a communications policy for a company that you are familiar with or a fictitious company you create.
Differentiate international and domestic business operations : Use Hofstede’s characteristics to differentiate international and domestic business operations.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Describe some way that u.s. gaap and ifrs are different

Describe some way that U.S. GAAP and IFRS are different.

  Tawstir corporation has 500 obsolete personal computers

tawstir corporation has 500 obsolete personal computers that are carried in inventory at a total cost of 720000. if

  Minimum value of property-transfer to the company

Damon would have control of the corporation after transfers by the two of them, says that she will transfer some property at the same time so that the two of them will have control of the company after the transfers and Damon's transfer will quali..

  Who are the users of accounting and explain

Why are ethical fundamentals important in the accounting field and for the business? Who are the users of accounting? Explain

  Prepare a statement of cash flows

Additional information: During the year, $9000 of common stock was issued in exchange for plant assets. No plant assets were sold in 2015.

  What can be deducted from tax returns and what not

What can be deducted from tax returns and what not, the State Planning Commission was decidedly pro-development and routinely approved

  Montana great outdoors had the following inventory

Compute the company's cost of goods sold for fiscal 2012 assuming the company used a) FIFO and b) LIFO methods of accounting for inventory:

  Calculate the payback period for the proposed investment

Rieger International is attempting to evaluate the feasibility of investing $ 95,000 in a piece of equipment that has a 5- year life. The firm has estimated the cash inflows associated with the proposal as shown in the table at the right. The firm..

  What are the possible accounting treatments

Your business acquired 4 pieces of equipment $12,000 each, for cash, with an estimated 4 year life - What are the 4 possible accounting treatments

  Determine david taxable income

David earned a $4,000 bonus for 2014. Bonuses would be mailed to the employees during the first week of January 2015. Determine David's 2014 taxable income

  Edde corporation has provided the following production and

edde corporation has provided the following production and total cost data for two levels of monthly production volume.

  Discuss pete and darrells choice of decision model

Pete and Darrell then discuss their choice of decision model; Pete prefers net present value, and Darrell prefers internal rate of return. Consider the use of these models.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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