How much cash does the company expect to collect in june

Assignment Help Accounting Basics
Reference no: EM131767532

Total billing notices - Jan 58000 Feb 62000 Mar 63000 April 61000 May 66000 June 66000, Cash Collection shows 45 % of billed premiums are paid in the billed month. 45 % are paid in the first month After they are billed. 6 % are paid in the second month after they are billed. 4 % of the billed premiums are paid late. (in the 3rd month after they are billed) and include a 10% penalty payment. How much cash does the company expect to collect in June? I came up with 61604 and it is NOT correct.

Reference no: EM131767532

Questions Cloud

Statements is incorrect with respect to BI systems : Which of the below statements is incorrect with respect to BI systems? As strategies change, IS must evolve along with the organization.
Pay semi-annually with following characteristics : Philip Morris has issued bonds that pay semi-annually with following characteristics:
Prepare the journal entries on the lessee books : Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses
Compare the proportions of users and nonusers : Construct and interpret a 95% confidence interval to compare the proportions of users and nonusers who expect businesses to have Web sites.
How much cash does the company expect to collect in june : How much cash does the company expect to collect in June. I came up with 61604 and it is NOT correct
Where would suggest she put these expenses : These expenses were incurred in selling for products during January 2016. Where would suggest she put these expenses?
Trade allows countries to use national resources : Trade allows countries to use national resources more efficiently and enables industries and workers to be more productive.
Discuss financial statements are prepared annually : The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually
Describe the specific security concerns or risks : Describe the specific security concerns or risks that your chosen operating system is exposed to and how you plan to mitigate the risk that each one presents.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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