User Account

All Pages

Show estimated collections for second month after sales

Assignment Help Financial Accounting
Reference no: EM132717963

Complete the two following tables for Mountain Food Ltd to show estimated cash collections from debtors (accounts receivable) on the following assumptions:

i. 60 per cent is collected in the month of the sale.
ii. 25 percent is collected in the month following the sale.
iii. 12 per cent is collected in the second month following the sale
iv. 3 per cent is never collected

Month         Estimated Sales
January       80,000
February       85,000
March            87,000
April                95,000
May            101,000

Problem 1: Show:

  1. Estimated collections (month of sales) $
  2. Estimated collections (first month after sales)$
  3. Estimated collections (second month after sales)$

Reference no: EM132717963

Questions Cloud

What is the character of rocky and bullwinkle loss : In 2001, Rocky and Bullwinkle (R&B) (MFJ) invested the sum of $250,000 with Boris Badenov, who held himself out to the public as an investment.
Find the minimum price the owner of the division : Find the minimum price the owner of the division should consider for its sale. (Do not round intermediate calculations. Enter your answer in millions)
External security lighting at datacenter facilities : Discuss the importance of internal and external security lighting at datacenter facilities.
Determine the net present value of building the warehouse : Determine the net present value of building the warehouse, assuming a construction cost of $20,000,000, an annual net cost savings of $4,000,000
Show estimated collections for second month after sales : Show Estimated collections for second month after sales. 12 per cent is collected in the second month following the sale. 3 per cent is never collected
What is the amount of your utility bill : If your fixed monthly utility charge is SR 200, your variable cost is SR2 per kilowatt hour, and your monthly activity level is 3,000 kilowatt hours.
Determine the net present value of the equipment : Determine the net present value of the equipment, assuming a desired rate of return of 10% and annual net cash flows of $700,000
What is the amount of the cash paid to suppliers : The beginning and ending Accounts Payable balances are $21,500 and $8,000, respectively, what is the amount of the cash paid to suppliers?
What are some of the strategies for reducing the risks : What is the weakest link in the security of an IT infrastructure? What are some of the strategies for reducing the risks?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Illustrate what are ed and his widow gross income

After Ed's death, his former employer paid Ed's widow $12,000 in "her time of need." Ed's widow also collect $25,000 on a group term insurance policy paid for by Ed's employer. Illustrate what are Ed's and his widow's gross income?

  Determine what is gold company stock worth

Find what is Gold's company stock worth to you? The next year the common stock of Gold Corp. will pay a dividend of $2.90 per share. If the company is growing

  Find what the amount of depreciation charged for the year

The expected trade in value as $6,000. Using the units of production method what the amount of depreciation charged for the year ended 30 June 2018 was

  What is the beta of fund q

Would you expect the standard deviation of Fund Q to be less than 15%, equal to 15%, or greater than 15%? Explain.What is the beta of Fund Q?

  Evaluate the amount of net short-term capital gain

Evaluate the amount of net short-term capital gain (NSTCG) or net short-term capital loss (NSTCL). Evaluate the amount of net long-term capital gain (NLTCG) or net long-term capital loss (NLTCL).

  Quince interests is a partnership with a tax year that ends

quince interests is a partnership with a tax year that ends 30th september 2012. during that year potter a partner

  Considered a part of factory overhead cost

Which of the following is considered a part of factory overhead cost? The term used to refer to the cost of changing direct materials into a finished manufactured product is:

  Compute the average ordinary shares outstanding

Compute the average ordinary shares outstanding. Compute the basic earnings per share.Precise company had a net income of 15,000,000 for the current year.

  Determine the depreciation expense should be

Find The depreciation expense for 2020 should be, Accumulated depreciation on this machine at December 31, 2019, was $118,000, using the straight-line method.

  Process operations system completed

During March, the production department of a process operations system completed and transferred to finished goods 19,000 units that were in process at the beginning of March and 110,000 units that were started and completed in March. Compute the num..

  Illustrate what will be the effect of the lease on ltt

The office building was acquired by Lakeside at a cost of $1 million and was expected to have a useful life of 15 years with no residual value. Illustrate what will be the effect of the lease on LTT's earnings for the first year (ignore taxes)?

  Optical supply company offers credit terms

Optical Supply Company offers credit terms of 2/10, net 60. If Optical Supply is considering a change in its credit terms to one of those indicated below, explain whether each change would increase or decrease sales.

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