Create a cash receipts schedule for the first quarter

Assignment Help Financial Accounting

Reference no: EM1375434

Dorough expects sales on jan 2012 total 200,000 and to increase 10 percent per month in feb and march.All sales are on account. Dorough expects to collect 70 percent of accounts receivable in the month of sale, 20% in the month subsequent the sale,and 10 percent in the second month subsequent the sale.

(A) create a sale budget for the first quarter of 2012

(B) evaluate the amount of sales revenue dorough will report on the first 2012 quarterly pro forma income statement.

(D) Evaluate the amount of accounts receivable as of 31st march, 2012

Reference no: EM1375434

Questions Cloud

Budgeted cost of goods : The company pays 50 percent of accountings payable in the month of purchase and the remaining 50 percent in the month subsequent purchase.

Comparative advantage theory : Describe unequivocally why the foundation of trade has nothing to do with absolute advantage and only law of comparative advantage is relevant.

Statutes to identify dollar exemptions : Can you please describe to me exactly what is being asked of me- Find as well as read your state's garnishment statutes to identify dollar exemptions as well as local garnishment procedure

Recognize the tax issues facing the waylands : They feel confident that their interest in the berry farm is a sound investment. Recognize the tax issues facing the Waylands.

Create a cash receipts schedule for the first quarter : evaluate the amount of sales revenue dorough will report on the first 2012 quarterly pro forma income statement and create a cash receipts schedule for the first quarter of 2012

Theory of comparative advantage : In the two years prior to its merger with Nextel, Sprint Company cut approximately 2,000 workers. In addition, Sprint outsourced nearly 90 percent of its Information Technology functions from within the company to lower cost countries outside the US.

Annual statement of loss and profit : require in journal/account/income statement? Will someone show me how to do it and the final answer should be what?

What are walmart''s competitive advantages : What are Walmart's competitive advantages as well as what strategies does it employ to acquire these competitive advantages

What growth approach does live nation appear : What growth approach does Live Nation appear to be using? What competitive improvement do you think Live Nation has

User Account

All Pages