User Account

All Pages

Determine the amount of sales revenue mccarty

Assignment Help Managerial Accounting
Reference no: EM13938862

McCarty Pointers Corporation expects to begin operations on January 1, 2012; it will operate as a specialty sales company that sells laser pointers over the Internet. McCarty expects sales in January 2012 to total $200,000 and to increase 10 percent per month in February and March. All sales are on account. McCarty expects to collect 70 percent of accounts receivable in the month of sale, 20 percent in the month following the sale, and 10 percent in the second month following the sale.

Required:

a. Prepare a sales budget for the first quarter of 2012.
b. Determine the amount of sales revenue McCarty will report on the first 2012 quarterly pro forma income statement.
c. Prepare a cash receipts schedule for the first quarter of 2012.
d. Determine the amount of accounts receivable as of March 31, 2012.

Reference no: EM13938862

Questions Cloud

Compare different methodological perpectives : Identify a research question or research questions based on a topic of your choosing an provide a brief overview of the literature. Critically compare different methodological perpectives (eg. posivitism and social constructivism) and select the o..
Consider the following idealized wimax scenario. : In mobile IP, what effect will mobility have on end-to-end delays of data-grams between the source and destination?
Negotiate to undertake a competency assessment : Write a discussion paper identifying strategies used to assess knowledge and competence in the workplace and the principles and challenges associated with giving feedback to staff after assessments.
Determinant of a person satisfaction at work : What do you think is the role of money as a determinant of a person's satisfaction at work and with life in general? Should organizations worry about this issue? Explain
Determine the amount of sales revenue mccarty : Determine the amount of sales revenue McCarty will report on the first 2012 quarterly pro forma income statement.
Determine whether each item is included as part of the cost : Determine whether each item is included as part of the cost of property, plant, and equipment. For any item excluded from the cost of property, plant, and equipment, explain why the item was excluded.
Explain the rand() in detail with example : The student should be able to test himself in addition, substraction, multiplication, divission giving integer (we use possitive numbers)
What is the current share price : Bayou Okra Farms just paid a dividend of $2.65 on its stock. The growth rate in dividends is expected to be a constant 4.5 percent per year indefinitely. Investors require a return of 15 percent for the first three years, a return of 13 percent for t..
Compute the cost of the new dry cleaning machine : Compute the cost of the new dry cleaning machine. Explain why you excluded any expenditures from the cost of the dry cleaning machine.

Reviews

Write a Review

Managerial Accounting Questions & Answers

  What is wrong with the executives statement

If our earnings go down, our stockholders are hurt because stock prices will fall, and our managers will be hurt because their bonuses are tied to earnings.'' What is wrong with the executive's statement?

  Portraits unlimited company budgeting project

Prepare Portraits Unlimited Company master budget for each quarter of 2014 and in total for the year by completing the following schedules and statements Sales budget

  Define yummy-pop accounts for direct materials using a fifo

Yummy-Pop Ltd makes lollipops in two sizes, large and giant. The company sells these lollipops to convenience stores, fairs, schools for fundraisers, and in bulk on the Internet.

  Compute the amount of ending inventory using

Compute the amount of ending inventory using (1) FIFO, (2) LIFO, and (3) weighted average.

  Sales mix decisiondr massy who specializes in internal

sales mix decisiondr. massy who specializes in internal medicine wants to analyze his sales mix to find out how the

  Discuss what some of the reports and ratios

Discuss what some of the reports and ratios are that the financial statements can help you develop and analyze the statements listed below, keep in mind that these statements are the foundation of financial accounting

  Explain quick managerial problem

If Thomson Company did not issue any bonds payable during the year and its bonds payable account decreased by $200,000 over the course of a year.

  Compute the division profit margin and investment turnover

A company's shipping division (an investment center) has sales of $ 2,420,000, net income of $ 516,000, and average invested assets of $ 2,250,000.

  Chapter question detmer holdings ag of zurich switzerland

detmer holdings ag of zurich switzerland has just introduced a new fashion watch for which the company is trying to

  Objective employee stock option accounting at starbucks

objective employee stock option accounting at starbucks corporationstarbucks corp. the passionate purveyors of coffee

  Journalize the entries to record the transactions

Journalize the transactions of April 27, July 13, and October 8 and what is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?

  Prepare a cash budget in good form for june

Compute the budgeted cash receipts for June - prepare a cash budget in good form for June. Clearly show any borrowing needed during the month

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