User Account

All Pages

What is the accounts receivables for october

Assignment Help Financial Accounting
Reference no: EM132768596

30% of total sales are cash sales. 70% of total sales are on credit. Actual receipts from Accounts Receivable are 80% of the previous month's credit sales and the balance of 20% owing is received in the following month. Actual credit sales were $60,000 in both August and September 2020.

Problem 1: what is the accounts receivables for October? November? December?

Reference no: EM132768596

Questions Cloud

Calculate the property taxes due : A property has an assessed value of $210,000. The homeowner qualifies for homestead exemption. Calculate the property taxes due
Should powersport accept the proposition and why : Calculate the maximum price that Powersport should pay for a case of bottles. The estimated sales are now 300,000 case instead of 200,000 case.
What is the accounts payable in october : What is the accounts payable in October? November? December? Credit purchases on Accounts Payable are paid 60% in the month of purchase.
Compute the amount of current assets : Question - If Miller Inc. has working capital of $600,000 and a current ratio of 3 to 1, compute the amount of current assets
What is the accounts receivables for october : What is the accounts receivables for October? November? December? 30% of total sales are cash sales. 70% of total sales are on credit.
Should you buy or sell bond futures in order to hedge : You are concerned that interest rates may fall over the next 7 months. Should you buy or sell 10 year bond futures in order to hedge yourself
Calculate the value of a bond that matures in eleven years : alculate the value of a bond that matures in 11 years and has a $1,000 par value. The annual coupon interest rate is 15 percent
What is the new lease liability on January : The lease contained an option for the lessee to extend the lease for a further 5 years. What is the new lease liability on January 1, 2023
What amount of accrued interest much do pay to purchase : 7.5 years and pays its next interest payment in four months. What amount of accrued interest much do you pay to purchase this pond today?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Create a journal entry from this transaction

Received a check as payment in full of the November 24 invoice from customer Robert Wise (11330). The $25,500 invoice on this sale was number U2000. Remember, the wholesale division of Uptight Tools offers credit terms of 2/15, n/30 to all retail cus..

  Calculate the expected return for microsoft

Assume the firm uses all of its excess cash for a stock repurchase. Which of the following would M&M say is the price per share be after the repurchase?

  Greeting card industry position and formulating planany

greeting card industry position and formulating planany strategic decision must be evaluated with careful consideration

  Overall sales-contribution margin ratio-net operating income

Michaels Company segments its income statement into its East and West Divisions. The company’s overall sales, contribution margin ratio, and net operating income are $580,000, 50%, and $29,000, respectively. The West Division’s contribution margin an..

  Illustrate what is the amount of his estate tax due

The real estate is subject to a $1,700,000 mortgage and Nathan made taxable gifts in 2005 totaling $2 million at which time he claimed the maximum unified credit of $345,800 and paid gift tax of $435,000. Illustrate what is the amount of his estat..

  What was the balance in the investment

On January 1, 2013, Pacer Company paid $1,920,000 for 60,000 shares of Lennon Co.'s voting common stock which represents a 40% investment. What was the balance in the Investment in Lennon Co. account found in the financial records of Pacer as of Dece..

  Cash for the necessary farm and equipment

Which finance method from Section A is best for this company and provide a brief explanation why? Piper Pickle Company is a major packer of pickles and pickled products (horseradish pickled watermelon rinds, and relish, and peppers). The company's st..

  Make all the entries for marsh bhd associated with transfer

Make all the entries for Marsh Bhd. associated with the transfer of the accounts receivable, the loan, and the remittance to the finance company.

  Calculate the after-tax cost of the issue

The Ess Kay Refrigerator Company, Calculate the after-tax cost of the issue. What would be the after-tax cost if the debenture were sold at a premium of Rs 30?

  Calculate the monthly installment

Calculate the monthly installment. Akbar purchased Honda Civic car through bank lease financing. The total value of the car is Rs 3,600,000.

  What are three distinct types of costs

When a company gives a cash refund on returned merchandise, why doesn't it just reduce Sales Revenue instead of using a contra-revenue account?

  Prepare the appropriate journal entries from the purchase

Assume significant influence was acquired. Prepare the appropriate journal entries from the purchase through the end of the year.

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