Prepare shedule of budgeted cash receipts

Assignment Help Financial Accounting

Reference no: EM131292208

Asper Company has sales on account and cash. Speccially, 70 % of its sales are on account and 30% are for cash. credit sales are collected in full in the month following the sale. the company forescast sales of $525.000 for april, $535.000 for may, and $560.000 for june. the beginning balance of accounts receivable is $400.000 on april 1.

Prepare a shedule of budgeted cash receipts doe april, may and june.

Reference no: EM131292208

Questions Cloud

How much is partnerships ordinary income : During 2017, the Tastee Partnership reported income before guaranteed payments of $92,000. Stella owns a 90% profits interest and works 1,600 hours per year in the business. Euclid owns a 10% profits interest and performs no services for the partners..

Effective annual interest rate that rick is charging : Rick, the owner of the local pawn shop, loans money at an annual rate of 23 percent with weekly compounding. What is the effective annual interest rate that Rick is charging? Doug saved $1,400 at the end of each year for 35 years. If Doug earned 6 pe..

Prepare shedule of budgeted cash receipts : Asper Company has sales on account and cash. Speccially, 70 % of its sales are on account and 30% are for cash. credit sales are collected in full in the month following the sale. the company forescast sales of $525.000 for april, $535.000 for may, a..

?nancial statements on a near-cash basis : Assume that you are a loan of?cer of a bank. A local church is seeking a $4 million, 20-year loan to construct a new classroom building. Church of?cers submit a comprehensive ?nancial report that was audited by a reputable CPA ?rm. The church prepare..

What is the break-even point in unit sales and dollars sales : Awree NatCacnotus Inc, an innovative company located somewhere on the beautiful winding slopes of Pacific Northwest (a great place for hiking), produces and sales a single product, Metadite, an organic cream used for a variety of home first and uses...

Cost of goods sold under each of assumed cost flow methods : A Sekhon Company had a beginning inventory on January 1 of 165 units of Product 4-18-15 at a cost of $18 per unit. During the year, the following purchases were made. Determine (1) the ending inventory, and (2) the cost of goods sold under each of th..

What are the net present value and internal rate of return : Centaur Corporation is considering the purchase of an annex to one of its buildings. The annex will cost $10,000,000. Centaur estimates that the building annex will save it $900,000 in rent in its first year, and that the rent savings will increase b..

User Account

All Pages