User Account

All Pages

What are the estimated cash collections in feb

Assignment Help Financial Accounting
Reference no: EM132998619

Question - VIC Ltd forecasts the following sales figures for the first four months of 2022.

Jan

Feb

Mar

Apr

$150,000

$170,000

$200,000

$250,000

Cash sales average 23 per cent of total sales and credit sales are collected 59 per cent in the month of sale and the rest in the month following sale. VIC also receives $10 000 monthly cash income from an investment.

Required - What are the estimated cash collections in Feb?

Reference no: EM132998619

Questions Cloud

Calculate Shaun other taxable income for the tax year : Deductions for seminars, travel and home study incurred as a coach - $11,000. Calculate Shaun other taxable income for the tax year
Complete a cash disbursement budget : Please complete a cash disbursement budget (for direct materials) for the first quarter of the year. What is the accounts payable balance as at March 31st
Calculate the liability using the low range : All costs should be discounted using a rate of 7%. How can recalculate the liability using the low range using the discounting approach
What is the actual direct labour rate : Considering the information: Total direct labour variance $90,000 and Favourable Actual direct labour hours 10,500 hrs. What is the actual direct labour rate
What are the estimated cash collections in feb : Cash sales average 23 per cent of total sales and credit sales are collected 59 per cent in the month of sale. What are the estimated cash collections in Feb
What is the present value of the stream of payments : If you feel the appropriate annual discount rate is 15%, what is the present value of the stream of payments you will receive
What is the rate of return the firm has earned : During the past year the common stock paid an annual dividend of JD5. The firm sold the security today for JD8. What is the rate of return the firm has earned
Determine the npv of the project : The company would also recover original investment after 3 years. The company costs of capital is 10%. Determine the NPV of the project
Determine the overall duration of the project : Identify all dependencies, and indicate what predecessor tasks are required and Determine the overall duration of the project

Reviews

Write a Review

Financial Accounting Questions & Answers

  What the progress billings on contract account is treated as

In accounting for a long-term construction contract using the percentage of completion method, the progress billings on contract account is treated

  Determine the amounts that beckman should report in year

Determine the amounts that Beckman should report in its year-end consolidated financial statements for noncontrolling interest in subsidiary income

  What is? avicorp pre-tax cost of? debt

What is? Avicorp's pre-tax cost of? debt? Note: Compute the effective annual return. Avicorp has a $13.7 million debt issue? outstanding, with 5.8% coupon rate.

  Determine that shipments made were actual sales

Favorite Soda Company distributes beverages in the Portland, Oregon area. Which of the following would be the test to determine that shipments made were actual sales?

  How many payments will take to settle the loan

How many payments will it take to settle the loan? Longcore Technologies has to settle a business loan of $60,000, which has an interest rate of 13% compounded.

  Why does account payable have a higher inherent risk

Why does account payable have a higher inherent risk in the completeness assertion, where as accounts receivable have a higher inherent risk

  What amount of dividend will the common stockholders receive

What amount of dividends will the common stockholders receive? Nadal, Inc. has 78,750 shares of $10 par value common stock and 52,500 shares

  What is the firm cost of external equity

The flotation costs would equal 10.0% of the stock's market value. The firm's marginal tax rate is 40%. What is the firm's cost of external equity?

  Prepare journal entries to record merchandising transactions

Prepare journal entries to record the above merchandising transactions of Sheng Company, which applies the perpetual inventory system.

  What is muffin co basic eps

Muffin Co. had 200,000 common shares. Dividends were NOT declared in 2020 or 2021. In 2021, net income was $800,000. For 2021, what is Muffin Co's basic EPS?

  History of conflict with female employees

Leonard Bailey is one of several partners in a medium sized (50 employees) CPA firm. Wilma Lawrence is the controller of ABC Manufacturing, one of Leonard’s clients. She has been with the company for 28 years and is very protective of what she consid..

  Bond retirement

(Bond Retirement) Simply Lemonade had outstanding $5 million of 11% bonds (interest payable July 31 and January 31) due in 10 years. On July 1, it issued $7 million of 10% 15-year bonds (interest payable July 1 and January 1) at 98. A portion of the ..

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