A firm has projected sales in May, June, and July of P10,000, P20,000, and P30,000, respectively. The firm makes 20% of sales for cash and collects the balance one month following the sale. What is the firm’s total cash receipts in July? a. P18,000 c. P20,000 b. P22,000 d. P24,000
Q: A firm has projected sales in October, November, and December of P10,000, P20,000, and P30,000,…
A: Cash budget means the expected cash receipts and expected cash payment for the next year. Cash…
Q: Here is a forecast of sales by National Bromide for the first four months of 2022 (figures in $…
A: The cash inflow calculation include calculating credit sales and cash sale .The total sales is…
Q: Air corporation has the following projected sales: P958,450.00 (October) P1,001,515.00 (November)…
A: Cash budget is one of the important budget being prepared in the business. It shows expected cash…
Q: A firm has actual sales in November of $1,363 and projected sales in December and January of $2,928…
A: Credit sales refer to the sales in which the customer is given some time to pay for the goods…
Q: QUESTION 1 Below is the information for Clean Bio Sdn. Bhd.: a) Clean Bio's projected sales for the…
A: The question is related to the Cash Budget. Cash Budget is a summary of cash receipts and cash…
Q: The ABC Company expects to have sales of $30,000 in January, $33,000 in February, and $38,000 in…
A: Cash receipts will only cover sales from January and no other month
Q: Frank's Sporting Goods projects sales for the second quarter of 200X to be as follows:…
A: Schedule of cash receipts is made to ascertain the amount received in the particular months.
Q: Here is a forecast of sales by National Bromide for the first 4 months of 2022 (figures in thousands…
A: Cash collections means the estimated amount of cash to be collected by the entity during a future…
Q: 10. Right Answer Company has the following sales forecast for the selected three-month period in…
A: To determine the cash balance at the end of April, we need to calculate the cash inflows and…
Q: A firm has actual sales in November of $1,000 and projected sales in December and January of $3,000…
A: Credit sales refer to the sales in which the customer is given some time to pay for the goods…
Q: AXE Co. expects to have sales of P30,000 in January, P33,000 in February, and P38,000 in March. If…
A: Credit sales are the sales in which the corporation does not get the receipts from the sales of…
Q: Black Corporation has forecasted sales in 2020 as follows: Jan-P120,000 Feb-P160,000 Mar-P180,000…
A: Cash flows are the cash generated from the operation of the business organisation. In other words,…
Q: Here is a forecast of sales by National Bromide for the first 4 months of 2022 (figures in thousands…
A: Variables in the question: Month1234Cash sales ($)27000360003000026000Sales on credit…
Q: Here is a forecast of sales by National Bromide for the first 4 months of 2022 (figures in thousands…
A: Budgeting is a technique of estimating future sales, expenses, receipts and payments on the basis of…
Q: Here is a forecast of sales by National Bromide for the first four months of 2022 (figures in $…
A: The cash inflow calculation include calculating credit sales and cash sale . The total sales is…
Q: AXE Co. expects to have sales of P30,000 in January, P33,000 in February, and P38,000 in March. If…
A: Credit sales are purchases made by customers for which payment is delayed. Delayed payments allow…
Q: The ABC Company expects to have sales of $30,000 in January, $33,000 in February, and $38,000 in…
A: As posted multiple independent questions we are answering only first question kindly repost the…
Q: Here is a forecast of sales by National Bromide for the first four months of 2022 (figures in $…
A: The cash inflow calculation include calculating credit sales and cash sale . The total sales is…
Q: Here is a forecast of sales by National Bromide for the first four months of 2019 (figures in $…
A: As per the given information: Month 1 Month 2 Month 3 Month 4 Cash sales 17 26 20 16…
Q: A firm has projected sales in May, June, and July of $100, $200, and $300, respectively. The firm…
A: INTRODUCTION: Cash sales are when the buyer's payment obligation is met. Cash sales include cash,…
Q: A firm has projected sales in May, June, and July of $100, $200, and $300, respectively. The firm…
A: A quantity of money given to a company in exchange for goods or services: We add the cash receipts…
Q: A firm collects 25% of its credit sale in the month of sale and the remainder in the following…
A: The external finance is the amount that is needed by the company to continue their operation and or…
Q: Cast of Cash sales Sales on credit Month 1 16 110 Month 2 Month 3 Month 4 25 130 19 100 15 80 On…
A: When cash sales are made , Cash inflows arise immediately. However , whenever credit sales are made…
Q: Prepare the monthly cash budget of Tox Ltd for the period January- March 201 (Please show me…
A: Cash budget provides details about cash inflows and outflows in the company.Cash budget starts with…
Q: A firm has an actual sales of P65,000 in April and P60,000 in May. It expects sales of P70,000 in…
A: The firm's expected cash receipts for July bis as follows :
Q: XYZ sdn bhd estimating its cash requirement for the third quarter year 2011. The company's projected…
A: Cash budget was used to estimate a firm's both cash inflows and outflows for a period of time.
Q: If a firm had credit sales of $1,550,000 for March and collected its sales 30% in the month of sale…
A: March sales collected in March = Credit March sales x 30%
Q: Suppose that the Sales in December 2019 were 26,630. The sales are expected to grow by 7% in January…
A: Computation of cash collection for the month of July 2020: Excel spread sheet:
Q: Superstar Berhad reported sales of RM70,000 in May and RM80,000 in June. The forecast sales for…
A: CASH BUDGET July August September Total Cash Balance Beginning 3,000 6,500…
Q: Pacific Place has developed the following sales forecast for the following months. Month…
A: Expected cash collections in June = Cash received from June Sales + Cash received for May Sales.
A firm has projected sales in May, June, and July of P10,000, P20,000, and P30,000, respectively. The firm makes 20% of sales for cash and collects the balance one month following the sale. What is the firm’s total cash receipts in July?
a. P18,000 c. P20,000
b. P22,000 d. P24,000
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- A firm has projected sales in October, November, and December of P10,000, P20,000, and P30,000, respectively. The firm makes 20% of sales for cash and collects the balance one month following the sale. What is the firm’s total cash receipts in December? P18,000 P20,000 P22,000 P24,000A firm has projected sales in May, June, and July of $100, $200, and $300, respectively. The firm makes 20 percent of sales for cash and collects the balance one month following the sale. The firm's total cash receipts in July a. are $200. b. are $220. c. are $180. d. cannot be determined with the information provided.A firm has projected sales in May, June, and July of $100, $200, and $300, respectively. The firm makes 20 percent of sales for cash and collects the balance one month following the sale. The firm's total cash receipts in July a. are $200.b. are $220.c. are $180.d. cannot be determined with the information provided.
- A firm has an actual sales of P65,000 in April and P60,000 in May. It expects sales of P70,000 in June and P100,000 in July. Assuming that sales are the only source of cash inflows and that half of them are for cash and the remainder are collected evenly over the following two months, what are the firm’s expected cash receipts for July?what is the correct answer?8. AXE Co. expects to have sales of P30,000 in January, P33,000 in February, and P38,000 in March. If 20 % of sales are for cash, 40 % are credit sales paid in the month following the sale, and 40 % are credit sales paid 2 months following the sale, what are the cash receipts from sales in March? А. Р30,000 В. Р32,800 С. Р38,000 D. P47,400 E. P55,000
- Air corporation has the following projected sales: P958,450.00 (October) P1,001,515.00 (November) P1,200,000.00 (December). Air corporation collects 50% of the month's sales in the month of sales, 35% in the month following sale, and 15% in the second month following the sale. What would be the cash collection in December? A) P143,767.50 B) P2,294,298.00 P1,837,730.00 P2,201,515.00Here 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)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 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) HelpHere 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 360Superstar Berhad reported sales of RM70,000 in May and RM80,000 in June. The forecast sales for July, August and September are RM90,000, RM100,000, and RM110,000, respectively. The beginning cash balance on July 1 is RM3,000 and the firm wishes to maintain a minimum cash balance of RM5,000 every month. The total long-term liabilities of the company is RM25,000. Given the following data, prepare a cash budget for the months of July, August and September. The firm makes 20% of sales for cash, 60% are collected in the next month, and the remaining 20% are collected in the second month following sale. The firm receives other income of RM 2,000 per month. The firm’s actual or expected purchases, all made for cash, are RM65,000, RM70,000, and RM85,000 for the months of July through September, respectively. Rent is RM5,500 per month. Wages and salaries are 10% of the previous month’s sales. The net income is RM30,000. Cash dividends is 20% of the net income and will be paid in August. The…
![Intermediate Financial Management (MindTap Course…](https://www.bartleby.com/isbn_cover_images/9781337395083/9781337395083_smallCoverImage.gif)
![Intermediate Financial Management (MindTap Course…](https://www.bartleby.com/isbn_cover_images/9781337395083/9781337395083_smallCoverImage.gif)