Complete an aging schedule for the fourth quarter

Assignment Help Financial Management
Reference no: EM132040135

Use the following information to complete the next 3 questions Simmons Brick Company has gross sales for the year of $1,216,668 and the sales are distributed evenly across the twelve months.

The collections department estimates that 50 percent of the customers pay in the month of sale; 35 percent pay the next month; and the remaining 15 percent pay two months after purchase

1. Calculate the days sales outstanding for the fourth quarter (October-December, assuming 30 days in each month).

2. Complete an aging schedule for the fourth quarter.

3. Complete an uncollected balances (payments pattern) schedule for the fourth quarter

Reference no: EM132040135

Questions Cloud

What is the tax basis for the equipment : Calculate the total operating cash flow for each of the three years counting the initial investment and the resale of the old equipment after year 3.
Non-public personal information of customers : If the company made a mistake that non-public personal information of customers have been obtained by anyone with access to the Internet.
What will be the resulting percentage change : Variable cost per unit $186 Units sold 406 Fixed costs $7,872 Interest expense 18,803 Based on the data above, what will be the resulting percentage change?
Customers in the future : As a common practice, Rova Inc. mostly collects upfront payments for goods that will be delivered to customers in the future.
Complete an aging schedule for the fourth quarter : Calculate the days sales outstanding for the fourth quarter (October-December, assuming 30 days in each month).
Decisions in inventory management area : What are the key differences between manufacturing and service organisations in regards to decisions in "inventory management" area?
Calculate the cash flow from assets : For 2012, calculate the cash flow from assets, cash flow to creditors, and cash flow to stockholders.
Discretionary employee benefits : What some views about whether discretionary employee benefits should be an entitlement or something earned based on job performance.
Calculate the future value of the annuity : Calculate the future value of the annuity, assuming that it is ?(1) An ordinary annuity. ?(2) An annuity due.

Reviews

Write a Review

Financial Management Questions & Answers

  Treasury securities with higher yielding bonds issued

Assume that the following two events occur at the same time. Foreign investors (including some foreign governments) decide to rebalance their portfolios, replacing U.S. Treasury securities with higher yielding bonds issued by several European countri..

  The future selling price needed to find stock price today

Explain clearly what the earliest year is that you should find the future selling price needed to find the stock price today.

  What numbers to use when figuring out debt to capitol ratio

How do you determine what numbers to use when figuring out debt to capitol ratio?

  Unaffected by firm choice of debt and equity financing

Match each of the following definitions to the appropriate terms: Terms (1- independence theory with corporate taxes,2- independence theory- no taxes, 3- saucer-shaped cost of capital curve), Definitions (A- The Cost of capital is unaffected by the f..

  Price investors would be willing to buy for preferred stock

The current rate of return investors require is 6.0%. What is the maximum price investors would be willing to buy for the preferred stock?

  Established an irrevocable trust

Franklin established an irrevocable trust with $60,000. He named his daughter Lucinda the beneficiary of the trust and gave her a noncumulative right to withdraw the greater of $5,000 or 5% of trust corpus each year. What is the gift tax consequence ..

  How they benefit others in society

Explain how firms creates wealth for their owners and how they benefit others in society.

  What is the current stock price if the annual dividend

HCC, Inc., is experiencing rapid growth. The company expects dividends to grow at 25 percent per year for the next seven years before leveling off to 7 percent into perpetuity. The required return on the stock is 11 percent. What is the current stock..

  What is the discounted payback period

What is the discounted payback period if the discount rate is zero percent?

  What adjusted wacc should be used in decision-making

Acme Business Connections (ABC) has an adjusted WACC of 8.56%. The company has a capital structure consisting of 60% equity and 40% debt, a cost of equity of 11.00%, a before-tax cost of debt of 7.00%, and a tax rate of 30%. what adjusted WACC should..

  Risk return theory states that the higher the risk

Risk return theory states that the higher the risk, the higher the required return. The present value of $50,000 to be received 10 years from now at 8% interest is about $23,160. The current share price is $25, most recent dividend is $1.25, so divid..

  About the future value

how much will your collection be worth when you retire in 2055, assuming they appreciate at an annual rate of 5.6 percent?

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