Calculate January Net Cash Flow (Labeled Y Below):January$10,000$4,000SalesCurrent MonthCollection (40%)Previous MonthCollection (60%)Total Cash ReceiptsEstimated CashPayments (100%)Net Cash FlowO $17,000O $1,000$7,000O $22,000O $14,000$0X$3,000YFebruary$15,000$6,000$6,000$12,000$15,000ZMarch$20,000$8,000$9,000$17,000$12,000$5,000PEPawan das LIELASER 71956 FRENTEBATHARK FOpracoVer PSeher von NSuSEPAREPANEVF BYSTOLEN LETTEE478FMeASPER2FuldePEVESA20CHRICSU BAGHE1250TPARFSE1620

The objective of the question is to calculate the net cash flow for the month of January. Net cash…

Answered: Calculate January Net Cash Flow…

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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Budgeting Cash Collections Lowell Consulting, which sells on terms 2/10, n/30, had credit sales for March and April of $90,000 and $75,000, respectively. Analysis of Lowell's operations indicates that the pattern of customers' payments on account is as follows (percentages are of total monthly credit sales) In month of sale in month of following sale Uncollectible accounts, returns, and allowances Receiving Discount Beyond Discount Period Totals 20% 60% 20% 35% 5% 100% 40% 15% Determine the estimated cash collected on customers' accounts in April.
Current Attempt in Progress Swifty Industries expects credit sales for January, February, and March to be $176,000, $208,000, and $240,000, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month. Credit Sales January February March $ January Collections from Customers February March
KAYAK COMPANYCash Budget JanuaryFebruaryMarchBeginning cash balance$30,000 $30,000 Add: Cash receipts525,000 400,000 450,000 Total cash available555,000 430,000 Less: Cash payments for All items excluding interest Interest on loan Total cash payments0 0 0 Preliminary cash balance Additional loan (loan repayment) Ending cash balance Loan balanceLoan balance - Beginning of month Additional loan (loan repayment) Loan balance, end of month$0 $0 $0
Consider the following information for a given company: Month Cash Sales Credit Sales Jan $80.000 $350,000 Feb $60,000 $200,000 Mar $50.000 $145,000 Apr $45,000 $130,000 May $55,000 $170,000 Jun $50,000 $150,000 The firm's collection pattern is as follows: 60% in the month of sale 30% one month following sale 10% two months following sale The accounts receivable balance on 1 Jan is $70,000. Of this amount, $60,000 represents uncollected Dec sales and $10,000 represents uncollected Nov sales. Required: Determine the total cash collected during Jan. (INPUT YOUR ANSWER IN THOUSANDS USING A COMMA SEPARATOR. NO ROUNDING REQUIRED. FOR EXAMPLE: 100,000)
5 At Lyman Company, past experience reveals that 10% of sales are for cash and the remaining 90% are on credit. Lyman Company expects to collect 30% of its credit sales in the month of sale, 50% in the month following sale, and 18% in the second month following sale. Which ONE of the following is part of the cash collections expected to be made in January? O Cash sales from the preceding December O Cash collections of credit sales from the preceding December O Cash collections of credit sales from the preceding September O Cash sales from the preceding November
Question The following information is from Teas Window’s financial records. The company buys its raw material on account and pays: 50% of accounts payable during the month of purchase 40% in the first month after purchase 10% in the second month after purchase Month Purchases april 80,000 may 92,000 june 93,000 july 97,000 Compute the estimated total cash disbursements during July. Show your calculations
Schedule of Cash Payments Tadpole Learning Systems Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $184,900 April 172,000 May 156,500 Depreciation, insurance, and property taxes represent $39,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taves for the year will be paid in November. 71% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for March, Apri, and May. Enter all amounts as positive numbers. TADPOLE LEARNING SYSTEMS INC. Schedule of Cash Payments for Selling and Administrative Expenses For the Three Months Ending May 31 March Apr May March expenses Paid in March Paid in April Apri expenses Paidin April Pad in May May expenses Prepare a…
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Forecasted cash receipts and expenditure for the period August to October are as follows: Cash Receipts Expenditure $ $ 60,000 58,000 July August September October 54000 68,000 90,000 30,000 44,000 Additional information provided: ✓ Expenditure for the period July to October includes monthly depreciation of $5,000. ✓ Payment for the cash related expenditure would be 40% in the month of purchase, the balance being paid the following month. The company intends to sell equipment valued at $25,000 in September. Insurance of $25,000 is payable in December. Opening cash balance as at August 1, $18,800. Required: Prepare a monthly Cash Budget for the period August to October 2021.
Cash Flow Budget Assumptions: Beginning balance is $20,000 Cost of goods sold is 80% of sales Building rent is $3,000 a month Accounts payable turnover ratio is 12 Accounts receivable ratio is 6 Inventory turnover ratio is 6 A quarter of sales are paid in cash Minimum cash balance is never less than $5,000
# 2 The table below highlights Deluna Company's expected sales Month RM January 100,000 February 120,000 March 110,000 The collection on sales for Deluna Company is structured in the following manner: • In the month of sale - 30 percent • One-month after-sale - 60 percent • Two months after-sale - 8 percent • Uncollectible bad debt - 2 percent Compute the total cash receipts in March:
Problem 1 LAKELAND Company has Sales of $2,250,000. The cost of goods sold for the year were 65% of Sales and Company's year-end balance sheets is shown below : Assets LAKELAND Company Balance Sheet 2021 Cash Accounts receivable Marketable securities Inventories Plant and Equipment Total Assets (100%)... $1,000,000 For the year ended December 31, 2021, assume all sales are on credit, and 360 days per year. Required to Compute the following Ratio: 5% 27% 8% 25% 35% Required: 1. Current ratio. 2. Quick ratio. 3. Debt-to-total assets ratio. 4. Assets turnover. 5. Inventory turnover. Liabilities and Stockholders' Equity Accounts payable Accrued taxes = 23% 8% 12% 12% 20% 25% Bond payable (long term) Common Stock Paid- in- Capital Retained Earning Total Liabilities and SOE (100%)... $1,000,000 Problem 2 Assume that you need to borrow $180,000 from local bank to invested on the department store and consider a 2 years loan with Semiannual payment with the interest rate 8% per year. a. What is…

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