Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campr and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.50 p check; the amount per check averages $80. "Bad" checks that Rosita cannot collect make up 4 percent of check revenue.
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![Schedule of Cash Receipts
Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus
and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.50 per
check; the amount per check averages $80. "Bad" checks that Rosita cannot collect make up 4 percent of check
revenue.
During a typical month, Rosita's has sales of $43,000. About 80 percent are cash sales. Estimated sales for the next
three months are as follows:
April
$30,000
May
43,000
June
59,000
Required:
Prepare a schedule of cash receipts for May and June. Round your intermediate computations and final answers to
the nearest whole dollar.
Rosita's Mexican Restaurant
Schedule of Cash Receipts
For the Months of May and June
May
June
Cash sales:
34,400
$ 47,200
Checks
8,825.75
11,800 X
Total
$4](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F89ff362f-828d-4f9e-b0ec-01a64edd97b6%2F99b70a6e-43fc-463c-9d9d-dc006169621e%2Fuv3xl4_processed.jpeg&w=3840&q=75)
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- Schedule of Cash Receipts Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.50 per check; the amount per check averages $75. "Bad" checks that Rosita cannot collect make up 3 percent of check revenue. During a typical month, Rosita's has sales of $45,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows: April $32,000 May 45,000 June 56,000 Rosita thinks that it may be time to refuse to accept checks and to start accepting credit cards. She is negotiating with VISA/MasterCard and American Express, and she would start the new policy on April 1. Rosita estimates that with the drop in sales from the "no checks" policy and the increase in sales from the acceptance of credit cards, the net increase in sales will be 30 percent. The credit cards do involve added costs as…Schedule of Cash Receipts Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.70 per check; the amount per check averages $70. “Bad” checks that Rosita cannot collect make up 2 percent of check revenue. During a typical month, Rosita's has sales of $43,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows: April $33,000 May 43,000 June 59,000 Required: Prepare a schedule of cash receipts for May and June. Round your intermediate computations and final answers to the nearest whole dollar. Rosita's Mexican RestaurantSchedule of Cash ReceiptsFor the Months of May and June May June Cash sales: $fill in the blank 1 $fill in the blank 2 Checks fill in the blank 3 fill in the blank 4 Total $fill in the blank 5 $fill in the blank 64. Schedule of Cash Receipts Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.50 per check; the amount per check averages $75. “Bad” checks that Rosita cannot collect make up 4 percent of check revenue. During a typical month, Rosita's has sales of $44,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows: April $32,000 May 44,000 June 56,000 Required: Prepare a schedule of cash receipts for May and June. Round your intermediate computations and final answers to the nearest whole dollar. Rosita's Mexican RestaurantSchedule of Cash ReceiptsFor the Months of May and June May June Cash sales: Checks Total
- Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.50 per check; the amount per check averages $80. “Bad” checks that Rosita cannot collect make up 2 percent of check revenue. During a typical month, Rosita's has sales of $44,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows: April $30,000 May 44,000 June 55,000 Required: Prepare a schedule of cash receipts for May and June. Round your intermediate computations and final answers to the nearest whole dollar. Rosita's Mexican RestaurantSchedule of Cash ReceiptsFor the Months of May and June May June Cash sales: $fill in the blank 1 $fill in the blank 2 Checks fill in the blank 3 fill in the blank 4 Total $fill in the blank 5 $fill in the blank 6Rosita Flores owns Rosita’s Mexican Restaurant in Tempe, Arizona. Rosita’s is an affordablerestaurant near campus and several hotels. Rosita accepts cash and checks. Checks are depositedimmediately. The bank charges $0.50 per check; the amount per check averages $75. “Bad”checks that Rosita cannot collect make up 3 percent of check revenue.During a typical month, Rosita’s has sales of $45,000. About 80 percent are cash sales.Estimated sales for the next three months are as follows:April $32,000May 45,000June 56,000 Required:Prepare a schedule of cash receipts for May and June. (Round all amounts to the nearestdollar.)Bev is completing the monthly bank reconciliation for her checking account for the month of October. The following facts apply: The balance per the bank on Oct 31st = $3,000 The balance per her checkbook on Oct 31st = $6,000 Deposits in Transit = $2,000 Outstanding Checks = $500 EFT’s ‘into’ her account = $4,000 EFT’s ‘out of’ her account = $5,500 No interest was earned on the account, and there were no bank fees during the month.
- Hazelton Manufacturing prepares a bank reconciliation at the end of every month. At the end of May, the general ledger checking account showed a balance of $1,480 and the bank statement showed a bank balance of $1,325. Outstanding checks totaled $410 and deposits in transit were $210. The bank statement listed service charges of $90 and NSF checks totaling $265. The corrected cash balance is: Multiple Choice $860. $770. $1,325.Carson's Bakery requires $500 cash to be on hand in the petty cash fund. During the month of October the following receipts were provided to the accountant in charge of petty cash; Gas $50, Supplies $100, Stamps $75. The petty cash fund now has a current balance of $270. How much cash needs to be withdrawn from the bank in order to replenish he petty cash fund? Record your answer as a numeric value without a $ sign. Type your answer..Sanchez's Men's Shop deposits all receipts in the bank each evening and makes all payments by check. On November 30, its ledger balance of cash is $2,326.65. The bank statement balance of cash as of November 30 is $3,057.03. Use the following information to reconcile the bank statement: The reconciliation for October, the previous month, showed three checks outstanding on October 31: no. 1417 for $165.00, no. 1420 for $200.23, and no. 1422 for $206.00. Check no. 1417 and no. 1422 were returned with the November bank statement; however, check no. 1420 was not returned. Check no. 1500 for $215.00, no. 1517 for $202.00, no. 1518 for $298.00, and no. 1519 for $201.15 were written during November and have not been returned by the bank. A deposit of $990 was placed in the night depository on November 30 and did not appear on the bank statement. The canceled checks were compared with the entries in the checkbook, and it was observed that check no. 1487, for $124, was written correctly,…
- Question Content Area Schedule of Cash Receipts Rosita Flores owns Rosita's Mexican Restaurant in Tempe, Arizona. Rosita's is an affordable restaurant near campus and several hotels. Rosita accepts cash and checks. Checks are deposited immediately. The bank charges $0.70 per check; the amount per check averages $85. “Bad” checks that Rosita cannot collect make up 4 percent of check revenue. During a typical month, Rosita's has sales of $50,000. About 80 percent are cash sales. Estimated sales for the next three months are as follows: April $37,000 May 50,000 June 54,000 Required: Prepare a schedule of cash receipts for May and June. Round your intermediate computations and final answers to the nearest whole dollar. Rosita's Mexican RestaurantSchedule of Cash ReceiptsFor the Months of May and June May June Cash sales: $fill in the blank 1 $fill in the blank 2 Checks fill in the blank 3 fill in the blank 4 Total $fill in the blank 5 $fill in the blank 6Arthur's Men's Shop deposits all receipts in the bank each evening and makes all payments by check. On November 30, its ledger balance of cash is $2,375.05. The bank statement balance of cash as of November 30 is $2,784.77. Use the following information to reconcile the bank statement: The reconciliation for October, the previous month, showed three checks outstanding on October 31: no. 1417 for $95.00, no. 1420 for $125.87, and no. 1422 for $136.00. Check no. 1417 and no. 1422 were returned with the November bank statement; however, check no. 1420 was not returned. Check no. 1500 for $155.00, no. 1517 for $132.00, no. 1518 for $218.00, and no. 1519 for $128.85 were written during November and have not been returned by the bank. A deposit of $945 was placed in the night depository on November 30 and did not appear on the bank statement. The canceled checks were compared with the entries in the checkbook, and it was observed that check no. 1487, for $89, was written correctly, payable…Haas's Men's Shop deposits all receipts in the bank each evening and makes all payments by check. On November 30, its ledger balance of cash is $2,160.00. The bank statement balance of cash as of November 30 is $3,292.50. Use the following information to reconcile the bank statement: The reconciliation for October, the previous month, showed three checks outstanding on October 31: no. 1417 for $110.00, no. 1420 for $144.35, and no. 1422 for $151.00. Check no. 1417 and no. 1422 were returned with the November bank statement; however, check no. 1420 was not returned. Check no. 1500 for $160.00, no. 1517 for $147.00, no. 1518 for $243.00, and no. 1519 for $146.15 were written during November and have not been returned by the bank. A deposit of $935 was placed in the night depository on November 30 and did not appear on the bank statement. The canceled checks were compared with the entries in the checkbook, and it was observed that check no. 1487, for $24, was written correctly, payable…
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