Need answer the accounting question A firm has actual sales of $69,000 in April and $57,000in May. It expects sales of $74,000 in June and $97,000in July and in August. Assuming that sales are the onlysource of cash inflows and that half of them are for cashand the remainder are collected evenly over thefollowing 2 months, what are the firm's expected cashreceipts for June, July, and August?

Step 1: Define Credit SalesA company can sell its goods to customers for cash or on credit. When…

Answered: A firm has actual sales of $69,000 in…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Here is a forecast of sales by National Bromide for the first four months of 2022 (figures in $ thousands) Month 1 Month 2 Month 3 Month 4 Cash sales Sales on credit 23 180 32 200 26 170 22 150 On average, 47% of credit sales are paid for in the current month, 27% are paid in the next month, and the remainder are paid in the month after that. What is the expected cash inflow from operations in months 3 and 4? Note: Do not round intermediate calculations. Enter your answers in thousands and rounded to one decimal place. Items Month 3 Month 4 Expected Cash Inflow from Operations (in $ thousands) Help
Here is a forecast of sales by National Bromide for the first four months of 2022 (figures in $ thousands): Month 1 Month 2 Cash sales Sales on credit 16 110 25 130 Month 3 Month 4 19 100 15 80 On average, 51% of credit sales are paid for in the current month, 31% are paid in the next month, and the remainder are paid in the month after that. What is the expected cash inflow from operations in months 3 and 4? Note: Do not round intermediate calculations. Enter your answers in thousands and rounded to one decimal place. Items Month 3 Month 4 Expected Cash Inflow from Operations (in $ thousands)
Cash receipt?
Here is a forecast of sales by National Bromide for the first four months of 2022 (figures in $ thousands). Month 1 Month 2 25 34 200 220 Month 3 28 Month 4 24 190 170 Cash sales Sales on credit On average, 45% of credit sales are paid for in the current month, 25% are paid in the next month, and the remainder are paid in the month after that. What is the expected cash inflow from operations in months 3 and 4? Note: Do not round intermediate calculations. Enter your answers in whole dollars and not in thousands rounded to the nearest whole number. Answer is complete but not entirely correct. Expected Cash Inflow from Operations (in S thousands) Items Month 3 Month 4 $ 391 360
Here is a forecast of sales by National Bromide for the first four months of 2022 (figures in $ thousands): Month 1 Month 2 Month 3 Month 4 Cash sales 35 44 38 34 Sales on credit 300 320 290 270 On average, 45% of credit sales are paid for in the current month, 25% are paid in the next month, and the remainder are paid in the month after that. What is the expected cash inflow from operations in months 3 and 4? Note: Do not round intermediate calculations. Enter your answers in thousands and rounded to one decimal place.
Here is a forecast of sales by National Bromide for the first four months of 2019 (figures in $ thousands): Month 1 Month 2 Month 3 Month 4 Cash sales 17 26 20 16 Sales on credit 120 140 110 90 On the average 52% of credit sales are paid for in the current month, 32% are paid in the next month, and the remainder are paid in the month after that. What is the expected cash inflow from operations in months 3 and 4? (Do not round intermediate calculations. Enter your answers in thousands rounded to the nearest whole number.)
Suppose that the Sales in December 2019 were 26,630. The sales are expected to grow by 7% in January 2020, by 5% in February 2020, and by 5% in March 2020. After that, the sales are expected to grow by 11%. The company's cash collection is as follows: 71% is collected in the same month and the remainder in the next month. What is the cash collection for July, 2020?
Suppose that the Sales in December 2019 were 86,536. The sales are expected to grow by 9% in January 2020, by 14% in February 2020, and by 15% in March 2020. After that, the sales are expected to grow by 10%. The company's cash collection is as follows: 60% is collected in the same month and the remainder in the next month. What is the cash collection for June, 2020?
Suppose that the Sales in December 2019 were 78,893. The sales are expected to grow by 15% in January 2020, by 4% in February 2020, and by 5% in March 2020. After that, the sales are expected to grow by 4%. The company's cash collection is as follows: 22% is collected in the same month, 22% is collected in the next month, and the remainder in the following month. What is the cash collection for June, 2020?
As an example, say a company expects $1M in May sales and they forecasted they would receive $500k in cash during the Month of May. To add to this example, let's assume they started May with a Cash Balance of $200k and have forecasted Cash Outflows of $450k. I believe the May forecast would then look like this: Starting Balance: $200,000 Expected collections: $500,000. Expected disbursements: $450,000. Ending Cash Balance: $250,000 What would happen, however, if the forecasted outflows -the total bills due- were $750,000 instead of $450,000? Please don't give solutions in an image format thank you

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