Rosita flores owns rosita''s mexican restaurant

Assignment Help Accounting Basics
Reference no: EM131746910

Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordablerestaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.60 per check; the amount per check averages $90. "Bad"checks that Rosita cannot collect make up 3 percent of check revenue.

During a typical month, Rosita's has sales of $46,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows:

April $40,000
May 46,000
June 56,000

Prepare a schedule of cash receipts for May and June. Round your intermediate computations and final answers to the nearest whole number.

Rosita's Mexican Restaurant

Schedule of Cash Receipts

For the Months of May and June

 

Reference no: EM131746910

Questions Cloud

Why for the statistics class data : Who, what, and why for the statistics class data. Answer the who, what, and why questions for the statistics class data set.
Why should you keep the space : Suppose that you had a data set for girls similar to the one given in Example 3.10, but that the observations of 33 ng/ml and 34 ng/ml were both changed to 35.
How goal setting-feedback lead to success in organization : How goal setting and feedback lead to success in the organization?
Distribution of the first-exam : Then use the stemplot to describe the distribution of the first-exam scores for this course.
Rosita flores owns rosita''s mexican restaurant : Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordablerestaurant near campus and several hotels
Internal control over financial reporting : How has the Sarbanes-Oxley Act of 2002 (SOX) given added importance to internal control over financial reporting? Has it succeeded in its purpose?
What is the sample pooled variance : Refere to the sales volume data in the table below, Top shelf Sales Mean=41.6, Variance=249.84, What is the sample pooled variance Sp2
Journalize the entry to record the first interest payment : Journalize the entry to record the first interest payment on October 1, 2014, and amortization of bond premium for six months
Ethical-legal ramifications for rights to refuse treatment : List two ethical and two legal ramifications for rights to refuse treatment.

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