GGG Company Assume that the firm is expecting to have the following quarterly unit sales with a price of P85: First Quarter Second Quarter 5,500 Third Quarter Fourth Quarter 5,000 6,000 6,500 50% of which are collected at the same month and the remaining 30% will be collected next quarter and the 20% on the next 2 quarters. Assume further that their ending inventory will be 25% of the next quarter's units and for the fourth quarter they had 1,300 units left. There is an accounts receivable recorded amounting to P350,000 GGG Company Sales Budget For the Year Ended December 31, 2022 Quarter 2 5,500 85 467,500 1 5,000 85 425,000 3 6,000 85 510,000 Total 23,000 85 1,955,000 Expected sales in units Unit Sales Price 6,500 85 Total Sales 552,500 Schedule of Expected Cash Collections 2 Total Accounts Reccivable P350,000 P350,000 First Quarter 1. Second Quarter Third Quarter Fourth Quarter 85,000 233,750 2. 3. 127,500 4. 5. 6. 7. 93,500 153,000 276,250 P522,750 Total Cash Collection 8. P361,250 9. 10.

GGG Company Assume that the firm is expecting to have the following quarterly unit sales with a price of P85: First Quarter Second Quarter 5,500 Third Quarter Fourth Quarter 5,000 6,000 6,500 50% of which are collected at the same month and the remaining 30% will be collected next quarter and the 20% on the next 2 quarters. Assume further that their ending inventory will be 25% of the next quarter's units and for the fourth quarter they had 1,300 units left. There is an accounts receivable recorded amounting to P350,000 GGG Company Sales Budget For the Year Ended December 31, 2022 Quarter 2 5,500 85 467,500 1 5,000 85 425,000 3 6,000 85 510,000 Total 23,000 85 1,955,000 Expected sales in units Unit Sales Price 6,500 85 Total Sales 552,500 Schedule of Expected Cash Collections 2 Total Accounts Reccivable P350,000 P350,000 First Quarter 1. Second Quarter Third Quarter Fourth Quarter 85,000 233,750 2. 3. 127,500 4. 5. 6. 7. 93,500 153,000 276,250 P522,750 Total Cash Collection 8. P361,250 9. 10.

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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