Hiroshi mart has the following financial information? On August 31, Hiroshi Mart has the following financial informationrelating to August:Sales$12,500Sales Returns & Allowances$1,200Purchases$5,200Freight-in$600Purchase Returns & Allowances $500Purchase Discounts$300What are the Net Purchases for the month of August?

Explanation of Net Purchases: Net Purchases represents the final cost of merchandise bought during a…

Answered: On August 31, Hiroshi Mart has the…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9PB: Amusement tickets estimated sales are: What are the balances in accounts receivable for April, May,...

See similar textbooks

Similar questions

Fitbands estimated sales are: What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?
Sheridan Company provides the following information for the month ended October 31, 2022: sales on credit $366,100, cash sales $108,300, sales discounts $5,100, and sales returns and allowances $12,900.Prepare the sales section of the income statement based on this information.
From the following information regarding the year to 31 August 20X6, what is the accounts payable payment period? You should calculate the ratio using purchases as the denominator. $ Sales 43,000 Cost of sales 32,500 Opening inventory 6,000 Closing inventory 3,800 Trade accounts payable at 31 August 20X6 4,750 A 40 days B 50 days C 53 days D 57 days
Based on the following data for the current year, what is the number of days' sales in receivable? Net sales on account during year $495,046 Cost of goods sold during year 202,912 Accounts receivable, beginning of year 45,637 Accounts receivable, end of year 52,238 Inventory, beginning of year 94,359 Inventory, end of year 104,951 Round your answer up to the nearest whole day.
Fitbands' estimated sales are: Ot. $131,973 Nov. 195,705 Dec. 249,291 Jan 124,298 Feb. 124,306 Mar. 124,365 What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale? Round your answers to two decimal places. Ending Balance January February March
Based on the following data for the current year, what is the number of days' sales in receivable? Net sales on account during year $498,171 Cost of goods sold during year 163,215 Accounts receivable, beginning of year 42,207 Accounts receivable, end of year 51,640 Inventory, beginning of year 92,904 Inventory, end of year 119,969 Round your answer up to the nearest whole day. Select the correct answer. 88 days 78 days 120 days 34 days
Based on the following data for the current year, what is the days' sales in receivables? Assume 365 days a year. Line Item Description Amount Sales on account during year $444,688 Cost of goods sold during year 188,576 Accounts receivable, beginning of year 45,189 Accounts receivable, end of year 51,774 Inventory, beginning of year 80,151 Inventory, end of year 112,830 Round your answer up to the nearest whole day.
Fitbands’ estimated sales are: Oct. $131,989 Nov. 195,710 Dec. 249,288 Jan 124,318 Feb. 124,276 Mar. 124,361 What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale? Round your answers to two decimal places. Ending Balance January February March
Based on the following data for the current year, what is the number of days' sales in receivables? Assume 365-Day year. Sales on account during year $425,334 Cost of goods sold during year 211,989 Accounts receivable, beginning of year 43,627 Accounts receivable, end of year 51,814 Inventory, beginning of year 83,323 Inventory, end of year 108,050 Round your answer up to the nearest whole day. a. 182 b. 93 Ос. 82 d. 41
Forecast the accounts receivable for Company XYZ using the following annual information. Receivable days assumption = 55 days Payable days assumption = 69 days Forecasted revenue = $263,500 Forecasted cost of goods sold = $114,780
Forecast the accounts receivable for Bing Inc using the following annual information. Receivable days assumption = 55 days Payable days assumption = 69 days Forecasted revenue = $263,500 Forecasted cost of goods sold = $114,780
Want Answer

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Intermediate Accounting: Reporting And Analysis

Accounting

ISBN:

9781337788281

Author:

James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:

Cengage Learning

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

EBK CONTEMPORARY FINANCIAL MANAGEMENT

Finance

ISBN:

9781337514835

Author:

MOYER

Publisher:

CENGAGE LEARNING - CONSIGNMENT

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

On August 31, Hiroshi Mart has the following financial information relating to August: Sales $12,500 Sales Returns & Allowances $1,200 Purchases $5,200 Freight-in $600 Purchase Returns & Allowances $500 Purchase Discounts $300 What are the Net Purchases for the month of August?