What are the forecasted cash collections for the June

Assignment Help Accounting Basics
Reference no: EM132546028

Question - The Company has projected the following sales for the spring quarter of 2014:

April $200,000

May $250,000

June $275,000

65% of all sales are paid for with cash. The remainder is on credit.

The pattern for credit receivables collections are:

Month of sale 60%

Month after sale 30%

Second month after sale 10%

Required - What are the forecasted cash collections for the month of June?

a. $178,750

b. $248,750

c. $269,750

d. $275,000

Reference no: EM132546028

Questions Cloud

Discussion about the history of hypertension and asthma : John Franklin is a 35-year-old African American male who has a history of hypertension and asthma who smokes ½ ppd since the age of eighteen. He began to feel.
What amount is included in Barneys gross income : Betty will also pay $10,000 per year until their daughter, Pebbles, turns 19 years old. What amount (if any) is included in Barney's gross income in 2019
Determine the carrying amount of the asset : Determine the carrying amount of this asset and the revaluation reserve as at 31 December 2019. Calculate the Value in Use of the asset as at 31 December
Examine the leadership theories and behaviors introduced : Review the Resources and examine the leadership theories and behaviors introduced. Identify two to three scholarly resources, in addition to this Module's.
What are the forecasted cash collections for the June : 65% of all sales are paid for with cash. The remainder is on credit. What are the forecasted cash collections for the month of June
What is your definition of spiritual care : What is your definition of spiritual care? How does it differ or accord with the description given in the topic readings? Explain. The response must be typed.
How the lease should be accounted for in entity : How the above lease should be accounted for in Entity 2's financial statements for the year ended 31 December 2019 in accordance with IFRS 16 Leases.
How much is the accrued interest payable : The loan and its related interest is payable in 2 years with an annual rate of 30%. How much is the accrued interest payable in 2020
Find what is the present value of the growing perpetuity : Find what is the present value of this growing perpetuity? If you use a discount rate of 0.09 for investment products,Round to two decimal places.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Income statements and financial performance of company

What 3 items of important information does the income statement reveal about the financial performance of the company over the last three years?

  Determine the total cost equation

If unknown function of short-term costs by using the average variable cost is shown, Determine the total cost equation and the short-term marginal cost

  Estimate the amount of variable costs

Using the information provided above, and your knowledge of CVP analysis, estimate the amount of variable costs

  What is the book value of the equipment

The balance in the equipment account is $678,950, and the balance in the accumulated depreciation-equipment account is $262,200. a. What is the book value of the equipment?

  Prepare the appropriate journal entry to record the award

Determine the total compensation cost pertaining to the restricted shares. Prepare the appropriate journal entry to record the award on January 1, 2009

  Direct materials price

The quantity purchased is used in computing the direct materials price variance because you are looking for the difference in the price of materials for the job

  On march 1 dennis company purchased 200000 10-year 12 bonds

on march 1 dennis company purchased 200000 10-year 12 bonds for 98 plus accrued interest revenue approach and brokerage

  What is the financial advantage of processing product

Wexpro, Inc., produces several products from processing 1 ton of clypton, a rare mineral. Material and processing costs total $53,000 per ton, one-fourth.

  In 2010 thornton sold 3000 units at 500 each variable

in 2010 thornton sold 3000 units at 500 each. variable expenses were 250 per unit and fixed expenses were 200000. the

  Prepare the journal entry to record Waterways transaction

Waterway Corporation is a regional company which is an SEC registrant. Prepare the journal entry to record Waterway's transaction, under the given conditions

  Management to issue low-quality financial reports

Which of the following best describes an opportunity for management to issue low-quality financial reports?A. Ineffective board of directors

  Explain why transfer prices based on total actual costs

Explain why transfer prices based on total actual costs are not appropriate as the basis for divisional performance measurement

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd