Calculate the receipts from accounts receivable for June

Assignment Help Accounting Basics
Reference no: EM132669990

Question - From the following data for Wang Enterprises, calculate the receipts from accounts receivable for June, July and Aug 2016:

 

Actual

 

April

May

Credit sales

168000

176000

 

Estimated

 

June

July

Credit sales

186000

164000

Credit sales are normally settled according to the following pattern: 60 per cent in the month following sale, and 35 percent in the second month following the sale. Five percent of accounts are never settled.

Reference no: EM132669990

Questions Cloud

Calculate the amount affect on taxable income : Address the main issues raised, apply the relevant ITAA 97 provisions and calculate the amount affect on taxable income/ taxable liability
Formation of macromolecules : Describe organic molecules, and explain the role of functional groups and the formation of macromolecules
Summarize the name of the city and healthcare system : Summarize the name of the city and healthcare system that you selected in Week One. Evaluate the current state of the healthcare system in the city you selected
List two chemicals that can interfere with cellular : List two chemicals that can interfere with cellular respiration and detail its effects and the mechanism that causes this interference.
Calculate the receipts from accounts receivable for June : Question - From the following data for Wang Enterprises, calculate the receipts from accounts receivable for June, July and Aug 2016
Find the gain recognized and reported in the profit : Find the gain (loss) recognized and reported in the Profit and Loss section for 2019 is? On January 1, 2019, Zamboanga Company purchased 9% bond
What genes would be downregulated : What types of genes would you expect to be upregulated by cells within a biofilm?
Should wolves be reintroduced to rio blanco county : What proposals has the city of Denver made to reduce water consumption? How might this impact individual consumers? Should wolves be reintroduced to Rio Blanco.
Determine number of plaque forming units in virus sample : Can you explain how to determine the number of plaque forming units in a virus sample?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Prepare the cash flow from operating activities

Prepare the cash flow from operating activities section of the statement of cash flow for Torbram using the indirect method

  Which option is less objectionable to Casey

Problem - Casey is in the 12% marginal tax bracket, and Jean is in the 35% marginal tax bracket. Which option is less objectionable to Casey

  Write up the loan account and interest expense account

On 1st January 2008 Barrel took out a $15000 loan. The loan was repayable in eight installments of $2100 commencing on 1stApril 2008 and finishing.

  What is the book value of the equipment as of december

On January 1, year 1, ABC. Ltd. purchased a piece of equipment for $ 450000, What is the book value of the equipment as of December 31, year 3.

  What is the amount of national''s stockholders equity

National Shops, Inc. reported the following amounts on its balance sheet as of December 31, 2010: What is the amount of National's stockholders' equity

  Given the importance of proper system development what role

given the importance of proper system development what role should an accountant take in a development

  The cash register total including sales taxes

The cash register total including sales taxes is $42,000, and the sales tax rate is 5%. What is the sales taxes payable?

  Prepare a CVP graph for Dalton

Dalton Brother pays 15% in taxes on income between $1 and $40,000. All income above $40,000 is taxed at 40%. Prepare a CVP graph for Dalton

  Calculate cost of goods sold for carver ltd

Calculate Cost of Goods Sold for the following two companies: CARVER LTD. and PEMBROKE, INC

  What is bexley budgeted production cost per pen for december

In December, Bexley expects to produce 90,000 pens. Assuming no structural changes, what is Bexley's budgeted production cost per pen for December

  Calculate the cost of the equipment

Pharoah Enterprises purchased equipment on March 15, 2018, for $81,910. The company has a December 31 year end. Calculate the cost of the equipment

  Discuss when ecls issued its bonds

When ECL's issued its bonds, the market interest rate was what

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