User Account

All Pages

Calculate the estimated cash receipts for september

Assignment Help Managerial Accounting
Reference no: EM13912510

Cash receipts budget. Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows:

Actual:

July . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 98,000
August . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105,000

Forecast:

September . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114,000
October . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94,000
November . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122,000
December . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107,000

Based on past experience, it is estimated that 30% of a month's sales are collected in the month of sale, 55% are collected in the month following the sale, and 10% are collected in the second month following the sale.

Required:

Calculate the estimated cash receipts for September, October, and November. 

Reference no: EM13912510

Questions Cloud

Calculate the number of units of product : Gillman Co. is forecasting sales of 62,000 units of product for August. To make one unit of finished product, 5 pounds of raw materials are required.
What are different criteria for recognizing revenue : What are different criteria for recognizing revenue and Why are there so many revenue recognition methods?
Production and purchases budgets : Production and purchases budgets. Osage Inc. has actual sales for May and June and forecast sales for July, August, September, and October as follows:
What is current environment regarding revenue recognition : What is the current environment regarding revenue recognition? When is revenue usually recognized? What conditions should exist for the recognition at date of sale for all or part of the revenue and income from the sale transaction? When is revenu..
Calculate the estimated cash receipts for september : Cash receipts budget. Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows:
When do accountants recognize revenue : Depreciation is cost allocation not valuation and accumulated depreciation is a sum of cash being accumulated for the replacement of fixed assets. Do you agree? Explain your answer?
Lakeway manufacturing company manufactures and sells : Lakeway Manufacturing Co. manufactures and sells household cleaning products.
Compute the additional revenue raised by jurisdiction a : The volume of services subject to tax was $50 million. Compute the additional revenue raised by Jurisdiction A and by Jurisdiction Z.
What is the dependent variable : A sales manager for an advertising agency believes that there is a relationship between the number of contacts that a salesperson makes and the amount of sales dollars earned. What is the dependent variable

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Explain job cost to manage and control its operations

Bergen Community College can/will/should use job cost to manage and control its operations just like for-profit corporations.

  Question 1assume the cfo of your organization approaches

question 1assume the cfo of your organization approaches you to ask your advice about implementing the balanced

  How those issues impact the various financial statements

List a few of the issues and considerations businesses should have when it comes to the selection of long-term investments and how those issues impact the various financial statements.

  How does one ensure that a cost-management system

Toni is relying on financial feedback, and the product costing method adopted by the large bakery. What are the strengths and weaknesses of these approaches?

  James manufacturing and technology jmt manufactures

james manufacturing and technology jmt manufactures private-label small electronic products such as alarm clocks

  Which manager is likely to see higher returns over a year

Which manager is likely to see higher returns over a 1-year investment horizon? Why? Which manager is likely to see higher returns over a 10-year investment horizon? Why?

  Nashville corporation-short term and long term use

Nashville Corporation allocates administrative costs on the basis of staff hours. Short-run monthly usage and long-run monthly usage of the staff hours for Operating Departments 1 and 2 follow.

  What is the companys single plantwide overhead rate

What is the companys single plantwide overhead rate based on direct labor hours -  Determine the total production cost per unit for each product line.

  Manufactures a paint additive

Mando Paints (MAPS)) manufactures a paint additive that has been very successful in the metallic paint line of automotive paints. The company prides itself in making the paints that car owners buy, better. MAPS is in the process of preparing its 2015..

  Explain steps of cash conversion cycle for hospital

The cycle in a hospital from admission to collection of the billing can be broken down into the following phases: cash, purchase of resources, availability of resources, patient treatment, patient release, billing, receivables and collection.

  Question on managerial accounting-uncollectible accounts

Uncollectible accounts expense is determined by the direct write-off method. Which of the following will be amount of uncollectible accounts expense?

  What amount of the yyy production costs is avoidable

What is the minimum acceptable price of this one-time-only special order and what other items should Tamworth Cabinets consider before accepting this one-time-only special order?

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