Prepare the cash collection schedule

Assignment Help Financial Accounting
Reference no: EM13748909

Shown below is the sales forecast for ABC Company:

May - $110,000    June - $130,000   July – $120,000    August - $150,000     September - $100,000

75% of sales are on account. 50% of credit sales are paid for in the month of the sale, 30% in the month following sale, and 20% are paid two months after the month of the sale. Prepare the cash collection schedule for July through September including a total column for the quarter.

Reference no: EM13748909

Questions Cloud

A description of the therapy or technique : A description of the therapy or technique of your choosing and why it is considered effective for stress management. A brief discussion on the history of the therapy or technique
Compare the probable rights and powers of women : Compare the probable rights and powers of women in the typical pre-urban village with those of women living in the typical urban Sumerian city. Did the establishment of cities help women overall, or did it hurt them? Explain
Advanced accounting discussion prompt : In the intercompany transfer of depreciable assets, it is likely that the acquiring company may be making different use of the asset than did the seller. As such, the salvage value and/or the expected useful life of the asset may be changed. Is it ap..
Analyze the term risk appetite : Assignment: Organizational Risk Appetite and Risk Assessment, Analyze the term "risk appetite". Then, suggest at least one (1) practical example in which it applies
Prepare the cash collection schedule : 75% of sales are on account. 50% of credit sales are paid for in the month of the sale, 30% in the month following sale, and 20% are paid two months after the month of the sale. Prepare the cash collection schedule for July through September includin..
How united arab emirates has impacted the world economically : how this nation has impacted the world economically, socially/culturally, and politically (through events or generally) within or over the last 250 years.
Why are large businesses with an entrepreneurial orientation : Why are large businesses with an entrepreneurial orientation more likely to be innovative or intrapreneurial. How do autonomy, innovativeness, proactiveness, aggressiveness, and risk-taking contribute to intrapreneurial success
A direct truck shipment from los angeles to oakland : Part 1: Every week, BossMustang of Oakland, CA receives shipments from ten (10) different suppliers in the Los Angeles area. Each supplier's order weighs, on average, 500 lbs. A direct truck shipment from Los Angeles to Oakland costs $800.
Substituting market relationship for management relationship : Beta needs 10,000 units of a component used in producing one of its products. The latest internal accounting reports show that the per unit manufacturing cost to be $150.00, based on the 10,000 unit production. The manufacturing cost per component br..

Reviews

Write a Review

 

Financial Accounting Questions & Answers

  Evaluate inventory costing method

Gladstone Company tracks the number of units purchased and sold all through each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventory system.

  Calculate dahls 20x6 consolidated net income

Calculate Dahls 20X6 consolidated net income and identify the amount attributable to Dahl's shareholders and to the non-controlling interest. Be sure to show all your calculations. You are not required to prepare a consolidated income statement.

  Consolidate financial statements of catbird

Catbird accounts for its investment in Bug using the equity method as a one-line consolidation. Complete the working papers to consolidate financial statements of Catbird and Bug Corporations for the year 2006.

  Compute cost of goods purchased and the cost of goods sold

Compute the cost of goods purchased and the cost of goods sold. Prepare the income statement for 2011

  Illustrate what is the journal entry at the end of current

At the end of the current fiscal year, the raw material to be purchased under this contract had a market value of $2.2 million. Illustrate what is the journal entry at the end of the current fiscal year?

  In the table to the below calculate the equipments

apply the concepts calculate and determine the entry for straight-line depreciationthe equipment purchased by galaxy

  Recording a bond issue and interestnora corporation issued

recording a bond issue and interestnora corporation issued 8.5 five year bonds with a face value of 8000000 on march 1

  Illustrate what should be the adjusted balance of allowance

During 2011, $37,500 of uncollectible accounts receivable were written off. Past experience indicates that 3% of net credit sales become uncollectible. Illustrate what should be the adjusted balance of Allowance for Doubtful Accounts at December ..

  Illustrate what is the best estimate of the stock price

Based on the corporate valuation model, Hunsader’s value of operations is $300 million. The company has 10 million shares of stock outstanding. Illustrate what is the best estimate of the stock’s price per share?

  Operating systems and distinguish potential threats

Working operating systems and distinguish potential threats that could harm business operations. The recommendations that are offered as the result of a risk analysis focus on the continuous development of security software for protecting infor..

  Case analysis reporting issues objectives tax issues

hello ltbrgt ltbrgti wonder if i get some help on this assignment. ltbrgtplease let me know how much it will cost me.

  What is the total contribution margin at break-even point

How many units would have to be sold each month to earn a target profit of $90,000? Use the formula method. Verify your answer by preparing contribution format income statement at the target sales level.

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