Reference no: EM131292230
Create a 12 month (January - December 2016) cash forecast for Smith Company in Excel using the following assumptions:
- Initial sales will be $50,000 in January. Sales will increase each month by 1%
- 40% of each month's sales will be collected that month in cash; 30% of that month's sales will be collectd in the month following the sale; 20% of that month's sales will be collected 2 months later; 8% of that month's sales will be collected 3 months later; and 2% will never be collected.
For Example: 40% of january's sales will be collected in january, 30% of january's sales will be collected in February, 20% of January's sales will be collected in March, 8% of January's sales will be collected in April, and 2% of January's sales will never be collected.
- The company will Start the begining of the year with a cash balance of $150,000.
Present the forecast of cash collections (Note: there are no spending projections to consider) for the year in a professional, clear, meaningful way for managment. The format is up to you.
|
The assets acquired and liabilities assumed
: On October 2, 2010, The Coca-Cola Company acquired the 67 percent of CCE’s North American business that was not already owned by the company for consideration of $6.84 billion that included: The company’s 33 percent indirect ownership interest in CCE..
|
|
Deducting the related allowance for doubtful accounts
: At the close of its first year of operations, December 31, 2017, Ming Company had accounts receivable of $1,620,000, after deducting the related allowance for doubtful accounts. What should the company report on its balance sheet at December 31, 2017..
|
|
Essential features of the allowance method of accounting
: Discuss the three (3) essential features of the allowance method of accounting for bad debts. (Hint - (1) How are bad debts estimated (2) How are estimated bad debts recorded in the financial statements - (journal entry) and (3) when and how (journal..
|
|
Accounting for the sale of merchandise
: Accounting for the sale of merchandise, purchase of merchandise, and accounting for freight and sales tax is important for a Merchandising business. In Merchandising businesses, there is a dual nature to the transactions. In this Discussion, you will..
|
|
Present the forecast of cash collections
: Initial sales will be $50,000 in January. Sales will increase each month by 1%. 40% of each month's sales will be collected that month in cash; 30% of that month's sales will be collectd in the month following the sale; 20% of that month's sales will..
|
|
Compute the markup percentage and target selling price
: Lovell Computer Parts Inc. is in the process of setting a selling price on a new component it has just designed and developed. Compute the markup percentage and target selling price that will allow Lovell Computer Parts to earn its desired ROI of 26 ..
|
|
The entry to record this lending transaction includes debit
: A company lends its supplier $160,000 for 3 years at a 10% annual interest rate. Interest payments are to be made twice a year. The entry to record this lending transaction includes a debit to:
|
|
Different between the uniform commercial code and common law
: What is different between the uniform commercial code and common law? Do you think that the owners of a corporation can maximize the object of the firm and satisfy the socially imposed constraints?
|
|
Depreciation switching to straight line
: Pretend that you have misplaced your MACRS tables. Develop the tables for a property class of 3 years assuming 200% DB depreciation switching to straight line; half-year convention; salvage value equal to $0. Your answers should match those for MACRS..
|