Question: 129A company plans to purchase inventory for the second half of 2014 asfollows:July$ 1,00,000August$ 75,000September$ 2,25,000October$1,25,000November$ 2,50,000December$ 30,000They usually pay 50% of inventory purchases in the month of purchase,35% in the following month, and 15% in the second month.Based on the information, what are the forecasted December cashpayments?a. $15,000b. $18,750c. $87,500d. $121,250

Step 1: Introduction to the Forecasted Cash Payments:In the master budget, the estimated cash…

Answered: Question: 129 A company plans to…

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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#13
Dream Big Pillow Co., pays 65% of its purchases in the month of purchase, 30% the month after the purchase, and 5% in the second month following the purchase. It made the following purchases at the end of 2017 and the beginning of 2018: Nov. 2017 Dec. 2017 Jan. 2018 Feb. 2018 Mar. 2018 $61,000 $52,000 $36,000 $38,000 $46,000 Given the above purchases, how much cash will be paid in quarter 2018? Cash paid $fill in the blank 1
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
None
acc
Question 1 The following data apply to the HASF Hardware Store and its 2011 budget Forecast Sales Jan $200,000 Feb $160,000 Mar $180,000 Apr $45,000 Balance Sheet Data December 31,2010 Cash $80,000 Account receivable: November sales 45000 December sales 50000 Inventory 54000 Account payable(merchandise) 27000 Other data are as follows: Sales are on credit with 60% of sales collected in the same month after sale ,40% in the second month after sale Cost of goods sold is 50% of sales Other variables costs are 30% of sales paid in the month incurred Inventories are to be 80% of next month’s budgeted sales requirements Fixed expenses are $15000 per month; all require cash Credit time period for purchases are 30 days On basis of above information answer following questions Find fixed expense in the month of March?
want answer please provide
November December January February March Actual Actual Forecast Forecast Forecast 80 000 150 000 180 000 240 000 300 000 • The cash from sales are received as follows: o 30% in the month of sale o 40% 1 month after sale o 30% 2 months after sale • Purchases are 65% of sales • Cash purchases are made in the following manner: o 20% cash in the month of purchase o 40% 1 month after purchase o 40% 2 months after purchase • Cash dividends of R15 000 was received in January • Rentals of R7 500 are due and paid at the end of each month • The company has 1 salaried employee who is paid each month • Wages incurred and paid equate to 8% of the previous months sales • The company bought a new machine in March for R250 000. Only a deposit of R130 000 was due and payable in March • A provisional tax payment of R30 000 was made at the end the February • R15 000 interest was paid against the company’s bank account in February • Dividends declared at the end of March amounted to R20 000. A 1st payment…
You collect 75% of a month's sales in the month of the sale and 25% of sales in the following month. May sales June sales July sales O $105 O $35 $120 Compute cash inflows for June. $135 $140 $100 not enough information, because sales revenue differs
amm.01
Subject: acounting

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