User Account

All Pages

Compute the amount of cash received from total sales

Assignment Help Accounting Basics
Reference no: EM132091253

Question - Kent Company anticipates total sales for April, May, and June of $800,000, $900,000, and $950,000 respectively. Cash sales are normally 25% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 65% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from total sales for May.

A. $561,500.

B. $652,500.

C. $817,500.

D. $592,500.

E. $890,000.

Reference no: EM132091253

Questions Cloud

Developing reasonable estimate of the merchandise purchases : Calculating the Inventory Turnover Ratio and Days to Sell Using the data in problem, calculate to one decimal place the inventory turnover ratio and days.
Compute the budgeted cash receipts for june : The remaining 70% are credit sales; these customers pay in the month following the sale. Compute the budgeted cash receipts for June
Why it is necessary for the law to require these benfits : Discuss whether or not you believe that discretionary employee benefits should be an entitlement or earned based on performance. Justify your response.
Determine the amount of goods sold for the year : Do you need to ask your boss for her copy of the annual report, or can you develop the information from her notes? Explain and show calculations.
Compute the amount of cash received from total sales : Kent Company anticipates total sales for April, May, and June of $800,000, $900,000, and $950,000. Compute the amount of cash received from total sales
Present considerations for workforce management : Strategic Warehouse Management, Inc. (SWM) is a U.S. based warehousing organization in the construction and management of warehouse operations.
When testing the overall significance of a multiple : When testing the overall significance of a multiple regression equation, what test should be used?
Compute cost of ending inventory and cost of goods sold : Calculating Cost of Goods Sold and Ending Inventory under FIFO, LIFO, and Weighted Average (Perpetual Inventory) Given the following information
Provide information about computer exploits : Identify and evaluate security for your company from week 1, which is an Adult daycare for Alzheimer and dementia patients . Produce a security plan that will

Reviews

Write a Review

Accounting Basics Questions & Answers

  You are considering the purchase of zee company stock you

you are considering the purchase of zee company stock. you anticipate that the company will pay dividends of 3.50 per

  Prepare a schedule of expected cash collections from sales

Prepare a schedule of expected cash collections from sales, by month and in total, for the third quarter

  Find the following a material cost variance b material

find the following a material cost variance b material price variance 1 at the point of consumption 2 at the point of

  Compute the sales units required to relize income from

for the coming year sorkin company anticipates a unit selling price of 80 a unit variable cost of 40 and fixed costs of

  At time 0 the value of a risk-free bond is bo100 and the

at time 0 the value of a risk-free bond is bo100 and the stock price is so100. suppose the annual risk-free interest

  General compliance requirements are set forth

General compliance requirements are set forth

  A company wants to have 21000 at the end of a five-year

a company wants to have 21000 at the end of a five-year period by investing a single sum now. how much needs to be

  How much higher is the manager bonus

if the net income after taxes is $35,700 for FIFO and $29,400 for LIFO, how much higher is the manager's bonus if FIFO is adopted? The tax rate is 30% and the bonus rate is 20%.

  Determining correct state taxable income for typical state

What adjustment, if any, should be made to Federal taxable income in determining the correct state taxable income for the typical state

  Compute the cost of the ending inventory and the cost of

jones company had 115 units in beginning inventory at a total cost of 12650. the company purchased 220 units at a total

  Explain the importance of the management discussion

Explain the importance of the management discussion and analysis section of an annual report. Select three (3) items from Verizon's management.

  What is the effective annual rate of interest on the loan

You plan to pay it off with monthly payments of $850 in 4 years. What is the effective annual rate of interest on the loan

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