Determine projected ending balance of cash on hand

Assignment Help Accounting Basics
Reference no: EM132445954

Question - Given: January 1 Aco had cash on hand of $80,000. All of January's $222,000 sales were on account. December sales of $220,000 were also all on account. Aco typically collects 25% of receivables in the month of the sale and the balance the following month. All materials and supplies are purchased on account and Aco has a history of paying for half of these purchases in the month of purchase and half the following month. Such purchases were $172,000 for December and $160,000 for January. All other expenses including wages are paid in the month incurred. There amounted to $40,000 in December and $42,000 in January.

Determine projected ending balance of cash on hand for January?

Reference no: EM132445954

Questions Cloud

Briefly describe the agency intervention and treatment plan : Review the agency's intervention/treatment plan used to engage clients. After reviewing the agency's intervention/treatment plan, consult the literature.
Determine cost per equivalent unit of conversion for March : Given: March 1 2019 Aco has beginning WIP inventory of zero. During the month 34,000 unites were started. Determine cost per equivalent unit of conversion
Give an example of one company that you know about : Give an example of ONE company that you know about, which is in one of the Four industries. Explain why it is in that particular industry.
Evaluate your current leadership characteristics : Evaluate your current leadership characteristics, style, and skills based on the assessment tools you and your colleague/supervisor completed.
Determine projected ending balance of cash on hand : Given: January 1 Aco had cash on hand of $80,000. All of January's $222,000 sales were on account. Determine projected ending balance of cash on hand
Write the equation for the market demand curve : Write the equation for the market demand curve given the above information. In your equation represent price as P and the quantity demanded as Qd.
Describe the needs assessment plans : To prepare for this Assignment, review the needs assessment plans that you and your classmates generated for this week's Discussion. Also, review the logic.
Discuss the challenges and rewards of making contribution : iscuss the challenges and rewards of making your contribution. Describe a time when you made a meaningful contribution to others
Discuss the challenges and rewards of making contribution : iscuss the challenges and rewards of making your contribution. Describe a time when you made a meaningful contribution to others

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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