User Account

All Pages

Calculate the cash collections from accounts receivable

Assignment Help Accounting Basics
Reference no: EM132183316

Question - Benjamin Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $250,000, $300,000, and $420,000, respectively, for September, October, and November. The company expects to sell 20% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale, 25% in the month following the sale, and the remainder in the following month.

The cash collections from accounts receivable in October are

a. $270,000.

b. $272,500.

c. $210,000.

d. $218,000.

Reference no: EM132183316

Questions Cloud

Find operating activities under the indirect method : Baxter Company reported a net loss of $17,098 for the year ended December 31. During the year, operating activities under the indirect method
What is sub culture and is there portland sub culture : What is sub culture? Is there a “Portland” sub culture? If so how is it different, or not, from other places you have lived or visited?
Review problem on improving workplace communication : Research proven communication methods through four scholarly journal articles. Conclude the plan with justification as to why the three action items.
Scietific revolutions in relation to public administration : What is Kuhn and the Structure of Scietific Revolutions in relation to Public Administration?
Calculate the cash collections from accounts receivable : Benjamin Corporation began its operations on September 1 of the current year. The cash collections from accounts receivable in October are
Explain the critique of the management principles tradition : What is Kuhn and the Structure of Scientific Revolutions in relation to Public Administration? Explain the Critique of the Management Principles Tradition
Calculate the profit margin for stevenson : Blancher Corporation had $495,000 in invested assets, sales of $660,000, The profit margin for Stevenson is
Explain the tools and tactics to be used : In this assignment, you will prepare a communications policy for a company that you are familiar with or a fictitious company you create.
Differentiate international and domestic business operations : Use Hofstede’s characteristics to differentiate international and domestic business operations.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Ginvold co began operating a subsidiary in a foreign

ginvold co. began operating a subsidiary in a foreign country on january 1 2011 by acquiring all of the common stock

  What is total product cost for last month

Total and Unit Product Cost Martinez Manufacturing Inc. showed the following costs for last month: Direct materials $7,000 Direct labor 3,000 Manufacturing.

  One of indias new high-technology companies is infosys

one of indias new high-technology companies is infosys specializing in software development. infosys is now listed on

  What part of this would be taxable income

James received a 1099 - INT reporting $14 090 in interest income from the Bank of America NA. What part of this would be taxable income

  Average remaining service life of active employees

Hanson Corp. sponsors a defined-benefit pension plan for its employees. On January 1, 2010, the following balances related to this plan.

  Prepare entries for crow using the expense warranty

Prepare 2014 entries for Crow using the expense warranty approach. Assume that Crow estimates the total cost of servicing the warranties

  Explain the difference between a current liability for an

1 what is the difference between a current liability for an uncertain amount and a contingent liability? give an

  Financial statements are prepared monthly

During December 2013, Expert Publications sells 4,000 copies of the golf magazine at newsstands and receives payment for 6,000 subscriptions for 2014. Financial statements are prepared monthly?

  Describe what makes the leader effective

Select a known business leader that you believe demonstrates strong leadership traits and write a research paper on this individual.

  What amount is reported for pension expense

A tech firm sponsors a defined contribution pension plan for qualified employees. The firm contributes 4% of annual gross salary to the fund of the employee's.

  Cjs pizza purchased a delivery van on january 1 2011 for

events related to the acquisition use and disposal of a tangible plant asset straight-line depreciation.cjs pizza

  Discuss the given revenue recognition situations

Grupo sells goods to MTN for $1,000,000, payment due at delivery.

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