Exercise 9-21 Missing Amounts; Various Types of Budgets (LO 9-3, 9-5, 9-6)Fill in the missing amounts in the following schedules.Complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 3 Required 4 Required 5Fill in the missing amounts in the following schedules.Accumulated depreciation,810,00012/31/x0Depreciation expense during 20x1Accumulated depreciation,150,00012/31/x1< Required 3Required 5 >*Half of each month's sales are on account. March sales amounted to $60,000.160% of credit sales is collected in the month of sale; 40% is collected in the following month.+Yen is the Japanese national currency. Exercise 9-21 Missing Amounts; Various Types of Budgets (LO 9-3, 9-5, 9-6)Fill in the missing amounts in the following schedules.Complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 3Required 4Required 5Fill in the missing amounts in the following schedules.Accounts receivable, 12/31x0Sales on account during 20x1Collections of accounts receivable during20x1Accounts receivable, 12/31x1340,000 t900,000(780,000)< Required 2Required 4 >*Half of each month's sales are on account. March sales amounted to $60,000.160% of credit sales is collected in the month of sale; 40% is collected in the following month.+Yen is the Japanese national currency.

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Description: Exercise 9-21 Missing Amounts; Various Types of Budgets (LO 9-3, 9-5, 9-6)Fill in the missing amounts in the following schedules.Complete this question by entering your answers in the tabs below.Required 1 Required 2 Required 3 Required 4 Required 5

Beginning Accumulated depreciation + Depreciation expense during the year = Ending Accumulated…

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Fill in the missing amounts in the following schedules. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Fill in the missing amounts in the following schedules. Accumulated depreciation, $ 810,000 12/31/x0 Depreciation expense during 20x1 Accumulated depreciation, 150,000 12/31/x1

Fill in the missing amounts in the following schedules. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Fill in the missing amounts in the following schedules. Accumulated depreciation, $ 810,000 12/31/x0 Depreciation expense during 20x1 Accumulated depreciation, 150,000 12/31/x1

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter10: Accounting For Sales And Cash Receipts

Section: Chapter Questions

Problem 12SPB

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Exercise 9-21 Missing Amounts; Various Types of Budgets (LO 9-3, 9-5, 9-6) Fill in the missing amounts in the following schedules. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Fill in the missing amounts in the following schedules. Retained earnings, 12/31/x0 $ 2,050,000 Net income for 20x1 400,000 Dividends paid in 20x1 Retained earnings, 12/31/x1 *Half of each month's sales are on account. March sales amounted to $60,000. 160% of credit sales is collected in the month of sale; 40% is collected in the following month. +Yen is the Japanese national currency.
are available for the months April through June, during which the loan will be used: a. On April 1, the start of the loan period, the cash balance will be $26,800. Accounts receivable on April 1 will total $193,200, of which $165,600 will be collected during April and $22,080 will be collected during May. The remainder will be uncollectible. b. Past experience shows that 30% of a month's sales are collected in the month of sale, 60% in the month following sale, and 8% in the second month following sale. The other 2% is bad debts that are never collected. Budgeted sales and expenses for the three- month period follow: Sales (all on account) Merchandise purchases Payroll Lease payments Advertising Equipment purchases Depreciation April $360,000 $ 275,000 $32,000 $ 38,400 $ 73,000 $0 $ 15,400 Required 1 Required 2 May $ 582,000 $ 227,000 $ 32,000 $ 38,400 $ 73,000 $0 $ 15,400 c. Merchandise purchases are paid in full during the month following purchase. Accounts payable for merchandise…
Use this table for calculations: Minimum Days Maximum days % uncollectible 1 30 1.5% 31 60 3.5% 61 90 12% 91 365 70% I need to calculate the number of days each receivable is outstanding look at image to fill in , show work when calculating or using formulas , included all work please. After that fill in the schedule accounts recievable shown in the other image for context. When filling in the schedule of accounts recievable show what the formulas w you use and all work.
Exercise 9-21 Missing Amounts; Various Types of Budgets (LO 9-3, 9-5, 9-6) Fill in the missing amounts in the following schedules. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Fill in the missing amounts in the following schedules. April May June Sales* 80,000 s 60,000 Cash receipts: From cash sales 45,000 From sales on accountt 34,000 Total cash receipts *Half of each month's sales are on account. March sales amounted to $60,000. 160% of credit sales is collected in the month of sale; 40% is collected in the following month. +Yen is the Japanese national currency.
Prime Products hopes to borrow $79,000 on April 1 and repay it plus interest of $1,140 on June 30. The following data are available for the months April through June, during which the loan will be used: a. On April 1, the start of the loan period, the cash balance will be $16,500. Accounts receivable on April 1 will total $190,400, of which $163,200 will be collected during April and $21,760 will be collected during May. The remainder will be uncollectible. b. The company estimates 30% of a month's sales are collected in the month of sale, 60% in the month following sale, and 8% in the second month following sale. The other 2% are bad debts that are never collected. Budgeted sales and expenses for the three- month period follow: Sales (all on account) Merchandise purchases Payroll Lease payments Advertising Equipment purchases Depreciation April May $ 312,000 $ 204,000 $ 24,000 $ 24,800 $ 79,200 $ 428,000 $ 162,000 $ 24,000 $ 24,800 $ 79,200 $ 17,200 $ 17,200 c. Merchandise purchases…
Assets Cash Minden Company Balance Sheet April 30 Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Note payable Common stock Retained earnings Total liabilities and stockholders' equity $ 11, 100 72,500 37,500 238,000 $ 359,100 $ 68,000 19,400 180,000 91,700 $ 359,100 The company is in the process of preparing a budget for May and assembled the following data: a. Sales are budgeted at $255,000 for May. Of these sales, $76,500 will be for cash; the remainder will be credit sales. One-half of a month's credit sales are collected in the month the sales are made, and the remainder are collected in the following month. All of the April 30 accounts receivable will be collected in May. b. Purchases of inventory are expected to total $189,000 during May. These purchases will all be on account. Forty percent of all purchases are paid for in the month of purchase; the remainder are paid in the following…
Saved Help 其 You received no credit for this question in the prevlous attempt Vie Exercise 13-35 (Algo) Estimate Cash Collections (LO 13-5) Minot Corporation is preparing its cash budget for August. The following information is availlable concerning its accounts receivable: Estimated credit sales for August Actual credit sales for July Estimated collections in August for credit sales in August Estimated collections in August for credit sales in July Estimated collections in August for credit sales prior to July Estimated write-offs in August for uncollectible credit sales Estimated provision for bad debts in August for credit sales in August $ 80,000 $ 60,000 25% 70% $6,000 $ 4,000 $2,700 Required: What is the estimated amount of cash receipts from accounts receivable collections in August? Estimated cash receipts $ 71,000
ttps://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com... Homework Problems i September-actual October-actual November-estimated December-estimated Total estimated for the current year Saved Units 40,000 60,000 80,000 50,000 800,000 Barnum Distributors wants a projection of cash receipts and cash payments for the month of November. On November 28, a note will be payable in the amount of $98,500, including interest. The cash balance on November 1 is $29,600. Accounts payable to merchandise creditors at the end of October were $217,000. The company's experience indicates that 70 percent of sales will be collected during the month of sale, 20 percent in the month following the sale, and 7 percent in the second month following the sale; 3 percent will be uncollectible. The company sells various products at an average price of $11 per unit. Selected sales figures are as follows. Help Budgeted operating expenses for…
Problem 6-3: The Kissagram Corporation The Kissagram Corporation produced the following summary of its Accounts Receivable on October 31, 2021: Customer Total $ Notes Aniston 9000 25% over 30-60 days; Remainder 90. Leblanc 9000 100% > 90 days outstanding. Required 1. Prepare an aged schedule of Accounts Receivable. Use the following categories: 90 days (delinquent). 2. Compute the balance for the Allowance for Doubtful accounts (rounded to the nearest $). Assume bad debt percentages for each category of 0.7%, 7%, 12% and 22%. Upon completion, enter the following data here: Allowance for Doubtful Accounts submit
Kat Ltd.'s September balance sheet contains the following information: Cash Accounts receivable. Allowance for doubtful accounts Merchandise inventory $ 37,500 (dr) 126,000 (dr) 2,800 (cr) 26,250 (dr) Management has designated $37,500 as the firm's minimum monthly cash balance. Other information about the firm and its operations is as follows: a. Sales revenues of $350,000, $420,000, and $312,500 are expected for October, November, and December, respectively. All goods are sold on account. b. The collection pattern for accounts receivable is 60% in the month of sale, 39% in the month following the month of sale, and 1% uncollectible, which is set up as an allowance. c. Cost of goods sold is 60% of sales revenues. d. Management's target ending balance of merchandise inventory is 10% of the current month's budgeted cost of goods sold. e. All accounts payable for inventory are paid in the month of purchase. f. Other monthly expenses are $49,250, which includes $3,500 of depreciation and…
QS 20-24 (Algo) Manufacturing: Cash budget LO P2 Using the following information: a. Beginning cash balance on March 1, $76,000. b. Cash receipts from sales, $308,000. c. Cash payments for direct materials, $140,000. d. Cash payments for direct labor, $79,000. e. Cash payments for overhead, $37,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $170 (1% of beginning loan balance of $17,000) h. Cash repayment of loan, $17,000. Prepare a cash budget for March for Gado Company. Total cash available GADO COMPANY Cash Budget March
Cambria v 14 - A A Number Paste BIUV $ - % 9 58 98 Conditional Formatting Clipboard Font Alignment Number G55 X. v fr A B D E H 1 Step 1: Cash collection schedule Sketch chart of % collected each month Calculate cash vs. credit - enter cash sales amounts Apply % collect to appropriate credit sales Step 2: Cash disbursement schedule Sketch chart of % paid each month Calculate amounts paid each month O Step 3: Formal Cash Budget Enter Cash Collection totals Enter any other cash collected Enter Disbursement schedule totals Enter beginning cash balance Calculate ending cash balance Hand-Out Cash Receipts Budget (Sch 1) September October November August (180,000) September (220,000) October (300,000) November (380,000) 网 lil THI