What are the budgeted cash payments for purchases on account

Assignment Help Financial Accounting
Reference no: EM13775538

Magnolia Candle Co. pays 10% of its purchases on account in the month of the purchase and 90% in the month following the purchase. If purchases are budgeted to be $11,900 for March and $12,700 for April, what are the budgeted cash payments for purchases on account for April?

Reference no: EM13775538

Questions Cloud

What was the amount of investment : A company using cost-plus pricing has an ROI of 24%, total sales of 20,000 units and a desired ROI per unit of $30. What was the amount of investment?
Preferred stock pays-diluted earnings per share : DiCenta Corporation reported net income of $287,000 in 2014 and had 51,800 shares of common stock outstanding throughout the year. Also outstanding all year were 5,520 shares of cumulative preferred stock, each convertible into 2 shares of common. Th..
What is the budgeted production : Renegade Publishers Inc. projected sales of 61,000 diaries for 2014. The estimated January 1, 2014, inventory is 4,900 units, and the desired December 31, 2014, inventory is 7,000 units. What is the budgeted production (in units) for 2014?
FASB standards of accounting and reporting : The Chase Private School follows FASB standards of accounting and reporting. Record journal entries for the following transactions during the year ended June 30, 2015. Cash contributions were received as follows: (a) $1,312 for any purpose desired by..
What are the budgeted cash payments for purchases on account : Magnolia Candle Co. pays 10% of its purchases on account in the month of the purchase and 90% in the month following the purchase. If purchases are budgeted to be $11,900 for March and $12,700 for April, what are the budgeted cash payments for purcha..
What are the budgeted cash receipts from sales on account : Wallace Publishers Inc. collects 85% of its sales on account in the month of the sale and 15% in the month following the sale. If sales on account are budgeted to be $151,000 for April and $119,000 for May, what are the budgeted cash receipts from sa..
Plane problem-salvage value at the end of its service life : AirExpress bought a used Boeing 757 plane 5 years ago for $35,000,000. At the time the plane was bought, it was estimated that it would have a SERVICE arrow-10x10.png life of 10 years and its salvage value at the end of its service life would be $10,..
Analyzing and evaluating introductions and purpose statement : Change to the other article this week. If you were assigned to Article A last week, switch to Article B this week. Review Chapters 5 and 6 in the course text, Research Design.
The financial, privacy, or ethical issues : What are some of the financial, privacy, or ethical issues that you perceived from this issue?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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