User Account

All Pages

Estimate the monthly cash collections for june

Assignment Help Managerial Accounting
Reference no: EM132517578

Logan Township acquired its water system from a private company on June 1. No receivables were acquired with the purchase. Therefore, total accounts receivable on June 1 had a zero balance.

  • Logan plans to bill customers in the month following the month of sale, and 80% of the resulting billings will be collected during the billing month. In the next following month, 80% of the remaining balance should be collectible. The remaining uncollectible amounts will relate to citizens who have moved away. Such amounts are never expected to be collected and will be written off.
  • Water sales during June are estimated at $3,500,000, and expected to increase 40% in July. August sales will be 20% less than July sales.

Question (a) For each dollar of sales, how much is expected to be collected?

Question (b) Estimate the monthly cash collections for June, July, August, and September.

Question (c) As of the end of August, how much will be the estimated amount of receivables for which future cash flows are anticipated?

Reference no: EM132517578

Questions Cloud

What is the amount of sales tax liability as of december : What is the amount of sales tax liability as of December 31, Year 1? What was the total amount of sales tax collected in Year 1?
Determining the delta-neutral position : Does the trade short or long the stock to have a delta-neutral position? (Sample answer: long; or short)
What is the probability of an up movement in a risk-neutral : What is the probability of an up movement in a risk-neutral world? (sample answer: 35.0%)
Time warner shares-market capitalization : Time Warner shares have a market capitalization of $ 50 billion. The company is expected to pay a dividend of $ 0.25 per share and each share trades
Estimate the monthly cash collections for june : As of the end of August, Find how much will be the estimated amount of receivables for which future cash flows are anticipated?
MIS741 - Ethics of Digital Transformation Assignment : MIS741 - Ethics of Digital Transformation Assignment Help and Solution - Deakin University, Australia - Assessment Writing Service
Construct a mean-variance dominating portfolio : If you are a mean-variance investor, you would never hold a risky asset in your portfolio that offers an expected return below the risk-free rate
What type of preferred share is entitled to dividends : What type of preferred share is entitled to dividends above its specified dividend if the common shares receive excess dividends and must receive
Case study-american greetings : The shares of American Greetings are currently trading at an EBITDA multiple that is at the bottom of its peer group. Do you think a 3.5-times

Reviews

Write a Review

Managerial Accounting Questions & Answers

  What was the total cost of the units completed

What The total cost of the units completed and transferred out of the department was? Walbin Corporation uses the weighted-average method

  What rate is the mass of quasar

Quasars are thought to be the nuclei of active galaxies in the early stages of their formation. A typical quasar radiates energy at the rate of 1041 W.

  What is the company reporting about near term trends

What is the company reporting about near term trends in revenue/growth/earnings?

  Which method of computing net income will result

Which method of computing net income will result in the higher net income? Why?

  Find the total manufacturing costs for job no is

Job No. 190 is charged with $80,000 of direct materials costs and $120,000 of manufacturing overhead. The total manufacturing costs for Job No. 190 is

  Prepare a memo addressing the issues identified

Prepare a memo addressing the issues identified. Include any supporting calculations in an appendix. Also, make recommendations and conclusion

  Prepare a scatter graph of customer service cost

Prepare a scatter graph of customer service cost (vertical axis) and sales (horizontal axis).

  Find what are the total assets at the end

Find What are total assets at the end of 2018? (Note: ignore any implications of interest on the loan.) Precision Builders Construction Company started in 2018.

  Assume that we tour polaris factory

1.Assume that we tour Polaris factory where it makes its products. List three direct costs and three indirect costs that we are likely to see.

  Calculate the dividends received by preferred stockholders

Cash dividends of $400,000 were declared. Assume that the preferred stock is cumulative. Calculate the Dividends received by the preferred stockholders

  What would shadee total cash receipts

What would Shadee's total cash receipts be for august and september?

  Determine the present value of the cash flows

Use the total cost approach to determine the present value of the cash flows associated with each alternative. (Negative amounts should be indicated)

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