Question 3Expected sales for the upcoming five months (May - September, 2023) in "GGG"company is as follows.MonthsMayAmount ROJune?July?August??*Assume any five values from RO 100,000 to RO 200,000 and the usedvalues must not be used by other groups.Sales policy is to receive 33% per cent of the sales in cash at the same monthof sale, and the remaining 66% per cent in the next month. The purchases costis expected to be 66% per cent of each month sales and is paid completely amonth after the purchases.September?Other cash incomesRent to be received RO 2500 in June and RO 6000 in August 2024.Loan is expected to be borrowed in June RO 12,500.Interest is to be received RO 5,800 on June and RO 3,750 in August 2023.Other expenses:Wages 33.33 % of each month sale is paid in the same month.Rent RO 17,000 paid on April and RO 12,000 on July.Taxes RO 11,500 to be paid in two equal parts in June and September.Other Miscellaneous RO 5,000 is paid monthlyOpening balance for May is RO 24,000.Prepare the Cash Budget with comments for the moths from May to Julyof 2023.

Cash collection from sales on accounts:Schedule of expected cash…

Question 3 Expected sales for the upcoming five months (May - September, 2023) in "GGG" company is as follows. Months May Amount RO September ? June ? July ? August ? ? *Assume any five values from RO 100,000 to RO 200,000 and the used values must not be used by other groups. Sales policy is to receive 33% per cent of the sales in cash at the same month of sale, and the remaining 66% per cent in the next month. The purchases cost is expected to be 66% per cent of each month sales and is paid completely a month after the purchases. Other cash incomes Rent to be received RO 2500 in June and RO 6000 in August 2024. Loan is expected to be borrowed in June RO 12,500. Interest is to be received RO 5,800 on June and RO 3,750 in August 2023. Other expenses: Wages 33.33 % of each month sale is paid in the same month. Rent RO 17,000 paid on April and RO 12,000 on July. Taxes RO 11,500 to be paid in two equal parts in June and September. Other Miscellaneous RO 5,000 is paid monthly Opening balance for May is RO 24,000. Prepare the Cash Budget with comments for the moths from May to July of 2023.

Question 3 Expected sales for the upcoming five months (May - September, 2023) in "GGG" company is as follows. Months May Amount RO September ? June ? July ? August ? ? *Assume any five values from RO 100,000 to RO 200,000 and the used values must not be used by other groups. Sales policy is to receive 33% per cent of the sales in cash at the same month of sale, and the remaining 66% per cent in the next month. The purchases cost is expected to be 66% per cent of each month sales and is paid completely a month after the purchases. Other cash incomes Rent to be received RO 2500 in June and RO 6000 in August 2024. Loan is expected to be borrowed in June RO 12,500. Interest is to be received RO 5,800 on June and RO 3,750 in August 2023. Other expenses: Wages 33.33 % of each month sale is paid in the same month. Rent RO 17,000 paid on April and RO 12,000 on July. Taxes RO 11,500 to be paid in two equal parts in June and September. Other Miscellaneous RO 5,000 is paid monthly Opening balance for May is RO 24,000. Prepare the Cash Budget with comments for the moths from May to July of 2023.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Question: 131 Mercer, Inc. had the following sales for the past six months. Mercer collects its credit sales 30% in the month of sale, 60% one month after the sale, and 10% two months after the sale. Cash Sales Credit Sales January $ 40,000 $ 60,000 February $ 50,000 $ 90,000 March $ 35,000 $ 80,000 April $ 40,000 $ 1,00,000 May $ 60,000 $ 1,20,000 $ 70,000 $ 1,40,000 June What are Mercer's total cash receipts for the month of March? a. $119,000 b. $115,000 c. $141,000 d. $129,000
Problem 4 Assume the foilowing are the projected sales of ABC company: MONTH AND YEAR PROJECTED SALES $ 120,000 April 20X1 May 20X1 100,000 June 20X1 80,000 50,000 July 20X1 August 20X1 September 20X1 60,000 90,000 150,000 October 20X1 Additional information: 80 percent of sales are on credit basis. 30 percent of the accounts receivables are are collected during the second month of sale. collected in one month and the remaining Material cost accounts for 25 percent of sales, V Salary expense accounts for 15 percent of sales, and V Production overheads accounts for 15 percent of sales. Required: based on the above information determine: on August? Company on June?
Calculating Payments Marshall plc's purchases from suppliers in a quarter are equal to 75 per cent of the next quarter's forecast sales. The payables period is 60 days. Wages, taxes and other expenses are 20 per cent of sales, and interest and dividends are £60 per quarter. No capital expenditures are planned. Here are the projected quarterly sales: Sales (£) Q1 750 Q2 920 Q3 Q4 890 790 Sales for the first quarter of the following year are projected at £970. Calculate the com- pany's cash outlays by completing the following: Payment of accounts Wages, taxes, other expenses Long-term financing expenses. (interest and dividends) Total Q1 Q2 Q3 Q4
Get Answer
Need 1,2 please
Problem 19-8 Forecasting Payments (LO2) Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The sales forecasts for the next five quarters are as follows: Sales forecast First $ 396 Quarter 1 2 3 4 Quarter in Coming Year Second Third $ 333 $ 343 Calculate Paymore's cash payments to its suppliers assuming that two-thirds of the purchases are paid for in the quarter that they are purchased and one-third are paid in the following quarter. Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. X Answer is not complete. Payment S 75,000 X Fourth $ 391 Following Year First Quarter $ 391
Finance
Problem 5-2 Rancho, Inc. forecasts the following sales for the second quarter of 2020, as well as actual March sales: March (actual) April May June 2nd Q. Total $3,000 $4,000 $5,000 $6,000 $15,000 In addition: The company makes 60% cash sales and 40% credit sales. It collects all credit sales in the month after the sale. The firm budgets $4,400 for monthly operating expenses. That amount includes $400 for depreciation. The firm pays all of its cash-based expenses in the month incurred. Rancho, Inc. had $100 of cash at March 31, 2020, and it must maintain a minimum $500 cash balance at the end of every month to ensure liquidity. The company has a line of credit with its bank that allows borrowing in $100 increments at 12% interest. All borrowing takes place at the beginning of the month in which the company requires cash. The company must repay principal in hundred dollar increments. The credit facility requires Rancho, Inc. to repay all accrued interest to date whenever…
h2
aa.4
Question A All That Remains Products has projected sales for next year of: Q1 Q2 Q3 Q4 Sales $ 77,300 $ 80,750 $ 87,150 $ 95,040 The company places orders each quarter that are 65 percent of the following quarter's sales and has a 60-day payables period. What is the accounts payable balance at the end of the third quarter? Full explain this question and text typing work only We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line.
Do not give solution in image format