User Account

All Pages

Estimate the monthly cash collections for june

Assignment Help Financial Accounting
Reference no: EM132792145

Question - Logan Township acquired its water system from a private company on June 1. No receivables were acquired with the purchase. Therefore, total accounts receivable on June 1 had a zero balance.

Logan plans to bill customers in the month following the month of sale, and 70% of the resulting billings will be collected during the billing month. 90% of the remaining balance should be collectable in the next following month. The remaining uncollectible amounts will relate to citizens who have moved away. Such amounts are never expected to be collected and will be written off.

Water sales during June are estimated at $4,000,000, and expected to increase 30% in July. August sales will be the same as July sales.

Estimate the monthly cash collections for June, July, August, and September.

Reference no: EM132792145

Questions Cloud

Concepts of capitalism and socialism : Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit,
Grow up influence children heredity : Explain how the environment in which they grow up influence's children's heredity.
What think the sales position for the company would be : What you think the sales position for this company would be. What kind of customers would you call on? What sales activities would you normally perform?
Describe the social and cultural influences : The focus of this paper is on the social and cultural influences in your life. The student will submit a paper that describes the social and cultural influences
Estimate the monthly cash collections for june : Water sales during June are estimated at $4,000,000, and expected to increase 30% in July. Estimate the monthly cash collections for June
Continued access to these resources in future : Our natural resources are valuable and important to sustain so that we have continued access to these resources in the future.
How are family of origin rituals associated : How are family of origin rituals associated with attachment in romantic relationships? Why do families of origin rituals carry over to adult relationships?
Prepare the journal entries to correct the error : Ritting used the straight-line method of depreciation for office furniture and follows ASPE. Prepare the journal entries to correct the error
How much should be mandatory on the part of management : How much, if any, action on ergonomics in the work-place should rely on the voluntary actions of employers (as favored by George W. Bush)

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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