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

  How much will have in college savings fund

How much will have in college savings fund on your 18th birthday? If your parents deposited RM15,000 into an account for you when you were born

  Analyzing manufacturing cost accounts

Analyzing Manufacturing Cost Accounts. Describe and illustrate a job order cost accounting system. Determine the missing amounts associated with each letter. Provide supporting calculations by completing a table with the following headings: Determine..

  Briefly explain how each may affect the audit

Read the board minutes for Apollo Shoes posted in Blackboard. Identify at least five pieces of information from the board minutes that will be important for the audit. Briefly explain how each may affect the audit.

  Make an extract from the profit and loss statement at june

Make an extract from the Profit and Loss Statement at 30th June 2018 indicating associated expenses for motor vehicles for the year.

  Compute the average variable cost per unit

Compute the average variable cost per unit. At an activity level of 8,800 units, Pember Corporation's total variable cost is $146,520 and its total fixed cost

  Make the journal entries for each of the transactions

Prepare the journal entries for each of the transactions, entering the debits before the credits. Each transaction is automatically posted

  Substituting capital for labor

A company is currently producing and selling 40,000 units of its product. The product sells for $10, has variable production costs of $6 per unit, and total fixed costs of $100,000. An industrial engineer has proposed that the company substitute capi..

  Evaluate the investing cash flows

Evaluate the investing cash flows - consider there were no other non-current assets sold during the period or revalued.

  What insight does give you into company financial operations

Determine the current liabilities to net worth ratio for the construction company in Figures 6-3 and 6-4. What insight does this give you into the company.

  Compute what are the cash flows of the project in years

Find what are the cash flows of the project in years 0 to 6? The new washer will have zero salvage value after 6 years, and the old washer is fully depreciated.

  Two different methods for preparing a cash flow statement

There are two different methods for preparing a cash flow statement that are acceptable according to GAAP.- What are these methods?

  What marriage date would you recommend for the loving couple

Neither has any dependents nor itemized deductions. Based only on tax considerations, what marriage date would you recommend for the loving couple? How much would your choice save in taxes?

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