Calculate the sales for december

Assignment Help Accounting Basics
Reference no: EM131013641

The following is the sales budget for Shleifer, Inc., for the first quarter of 2013:


January

 

February

 

March

 

 

  Sales budget

$

205,000

 

$

225,000

 

$

248,000

 
                   

Credit sales are collected as follows:

75 percent in the month of the sale.
20 percent in the month after the sale.
5 percent in the second month after the sale.

The accounts receivable balance at the end of the previous quarter was $89,000 ($59,000 of which was uncollected December sales).

a. Calculate the sales for November. (Do not round intermediate calculations. Enter your answer in whole dollars (e.g., 32).)

November sales:$

b. Calculate the sales for December. (Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).)

December sales:$

c. Calculate the cash collections from sales for each month from January through March. (Do not round intermediate calculations and round your final answers to 2 decimal places (e.g., 32.16).)

 

 

 

Reference no: EM131013641

The preferred stock is selling

Andrews Company has $80,000 available to pay dividends. It has 2,000 shares of 10%, $100 par, preferred stock and 30,000 shares of $10 par common stock outstanding.

Which of the following explains why there is no month end

Which of the following explains why there is no Month end posting to controlling accounts in a computerized accounting system?a) Controlling accounts are the sum of the balanc

The irs adjustment caused a tax deficiency

Samual was allowed a miscellaneous intemized deduction (subject to the 2% floor) for the fee paid to the attorney. The IRS adjustment caused a tax deficiency to be assessed fo

Della company employs two professional appraisers

Della Company employs two professional appraisers, each having a different specialty. Scott specializes in commercial appraisals, and Burt specializes in residential appraisal

What is the balance in estimated warranty liability

What is the balance in Estimated Warranty Liability at 12-31-X4 and the balance in Warranty Expense for 20X4, respectively?can you please snow the work, so I can understand th

Explain the order for doing financial statements

Explain the order for doing financial statements. That is, what financial statement do you complete first and what ‘value' do you use from this financial statement to comple

Explain how dcf techniques are useful

Identify Mfich brand of product is the market leader in Oman market and discuss what market strategies made the brand as the market leader (using your own sentences with 200

Jess transfers the note for value to pam

Gil makes out a $900 negotiable promissory note payable to Ben. By special indorsement, Ben transfers the note for value to Jess. By blank indorsement, Jess transfers the note

Reviews

Write a Review

 
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