tar Company was organized on August 1 of the current year. Projected sales for the next three months are as follows:   August $250,000 September 200,000 October 275,000   The company expects to sell 50% of its merchandise for cash. Of the sales on credit, 30% are expected to be collected in the month of the sale and the remainder in the following month.   What is Star Company expected cash collection for September?

Q: A firm has actual sales of $69,000 in April and $57,000 in May. It expects sales of $74,000 in June…

A: Part 2: Explanation:Step 1: Calculate the cash portion of sales for each month:- April: $69,000 / 2…

Q: The Guitar Shoppe reports the following sales forecast: August, $200,000; and September, $260,000.…

A: A cash budget is an estimation of expected cash receipts and disbursements on the basis of past…

Q: Romper Company expects its November sales to be 20% higher than its October sales, which were…

A:

Q: A company's history indicates that 25% of its sales are for cash and the rest are on credit.…

A: The cash collection schedule is prepared to estimate the cash collection from the customers during…

Q: Graham Potato Company has projected sales of $12,000 in September, $15,000 in October, $22, 000 in…

A: Cash budgets are estimation of cash inflows and cash outflows of a company during a given period.…

Q: 25% of purchases are paid for 2 months after purchase. Rent: The firm pays rent of $9,000 per month.…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Bark & Purr Supplies Inc., a pet wholesale supplier, was organized on May 1. Projected sales for…

A: Budget means the expected value of future. Budget is not affected by the actual value as it is…

Q: crane company management wants to maintain a minimum monthly cash balance of $26,500. At the…

A: The cash budget is an estimate of cash receipts and their payment during a future period of time.

Q: Vaughn Industries expects credit sales for January, February, and March to be $268,400, $317,200,…

A: Given, 75% of credit sales collected in month of sale 25% of credit sales will be collected in the…

Q: Suppose that the Sales in December 2019 were 78,893. The sales are expected to grow by 15% in…

A: In the month of June. 56% (100%-22%-22%) of April sales cash is collected, 22% of May sales and 22%…

Q: The Dilly Company (DC) began operations on December 1, 2021. All sales are credit sales with 50%…

A: cash collection is calculated by multiplying the collection % with the respective month sales.

Q: Prepare a schedule indicating cash collections from sales for May, June, and July.

A: Sale made on account is nothing but credit sales. Subsequent collection from debtors depends credit…

Q: Marlin Company projects the follwoing sales for the first thre months of the year: $11500 in…

A: Working Note Particulars  January   February   March  Total Budgeted Sales      11,500…

Q: Mercurius forecasts the following sales figures for the next four months. June July August…

A: The companies usually provide the goods or render services to the customer to earn profit. The…

Q: 10. Right Answer Company has the following sales forecast for the selected three-month period in…

A: To determine the cash balance at the end of April, we need to calculate the cash inflows and…

Q: Johnson Corporation has the following sales forecasts for the first three months of the current…

A: Computation of the cash balance at the end of January:Cash balance, January 1$25,000Add: Cash…

Q: Crane Industries expects credit sales for January, February, and March to be $281,600, $332,800, and…

A: Step 1: Calculate Cash Collections for Each MonthJanuary:Collected in January (75% of January sales)…

Q: The management of Kirkut Enterprises prepared the following forecasted total sales schedule for the…

A: Cash Sales: Cash sales are transactions in which the buyer pays immediately. Bills, coins, cheques,…

Q: Graham Potato Company has projected sales of $10,200 in September, $13,500 in October, $20.200 in…

A: Cash budget is used to estimate cash inflows (cash receipts) and cash outflows (cash payments) of a…

Q: 2. Ann Marie Roopchand Company has forecast its sales as follows: $180,000 (actual) August September…

A: Budgets are made to determine the expected cash receipts and expected cash expenses to be incurred…

Q: Black Corporation has forecasted sales in 2020 as follows: Jan-P120,000 Feb-P160,000 Mar-P180,000…

A: Cash flows are the cash generated from the operation of the business organisation. In other words,…

Q: June sales were $20,000​, while projected sales for July and August were $50,000 and $71,000​,…

A: The cash collection schedule is prepared to estimate the cash collection during the given period.…

Q: At the end of September a company has cash balance of $800, trade receivables of $12000 and trade…

A: CASH BUDGET Cash Budget is a detailed budget of cash income and cash expenditure incorporating both…

Q: At Torrey Company, past experience reveals that 10% of sales are for cash and the remaining 90% are…

A: Credit sale is the sale which is made on account that is the money for the sales made will be…

Q: Fine Co. has the following sales forecasts for the third quarter of 2021: P85,000 (July), P88,000…

A: Cash budget is one of the budget of the business, which shows beginning and ending cash balance,…

Q: Memphis company anticipates total total sales for April, May and June of 910000, 1010000 and…

A: Credit sales are the sales made by the organization to its customer to repay the due on a later…

Q: OfficeMart Inc. has “cash and carry” customers and credit customers. OfficeMart estimates that 30%…

A: A cash collection schedule means showing a pattern in which a business expects to collect cash from…

Q: Jamaica Co’s sales forecast for the first five months of 2018 are as follows: January…

A: Budgeting - Budgeting is the process of estimating future operations based on past performance. %…

Q: Grit Company was formed on May 1, 2023. During May, 2023, the company reported sales on account of…

A: Sales Data:May 2023 Sales: $750,000June 2023 Sales: $800,000Collection Pattern:40% collected in the…

Q: How much are anticipated Cash collections during the month of February?

A:

Q: March 45,000 85% of sales are collected in the month of the sale and the remainder is collected in…

A: particulars  amount $ Cash balance $     25,000.00 add:customer collection  $58,950…

Q: Power Ridge Corporation has forecast credit sales for the fourth quarter of the year as follows:…

A: Cash receipt schedule is an important tool any firm can use. One can estimate the receipt of the…

Q: J.TOY Inc., was organized on August 1 of the current year. Projected sales for the next three months…

A: There are three conditions of cash collection:    Cash sales is 40% of total sales and 60% on…

Q: Graham Potato Company has projected sales of $9,000 in September, $12,500 in October, $19,000 in…

A: Cash receipt schedule :— This budget is prepared to estimate the collection of sales from customers…

Q: company has expected sales for January through April of $9,800, 59, 500, $13, 800, and $9,500,…

A: The company's sales collection process takes 36 days. This means that on the first day of May, the…

Q: Simpson Glove Company has made the following sales projections for the next six months. All sales…

A: Budget means the expected value of future. Budget will be compared with actual value and variance is…

Q: Suppose that the Sales in December 2019 were 41,498. The sales are expected to grow by 5% in January…

A: Computation of cash collection for the month of July 2020: Excel spread sheet:

Q: Millen’s managers have made the following additional assumptions and estimates Estimated sales for…

A: ACCOUNT RECEIVABLE; An account receivable is defined as it is money that has not been paid by…

Q: Prince Charles Island Company has expected sales of $6,000 in September, $10,000 in October, $16,000…

A: A cash budget is a budget that provides information about the company's projected cash inflows and…

Q: Jasper Company has 70% of its sales on credit and 30% for cash. All credit sales are collected in…

A: The cash budget is part of the master budget and it shows estimated cash inflow and cash outflow…

Q: Budgeted cash receipts February March

A: Schedule of cash collection includes collection of sales based on their % of collection in…

Q: n August 1 of the current year. Projected sales for the next three months are as follows: $100,000…

A: Schedule of Expected Cash Collections: Schedule of Expected Cash Collections from the customers…

Q: Jasper Company has 70% of its sales on credit and 30% for cash. All credit sales are collected in…

A: cash Sales = 30% of Total sales  Credit sales = 70% of Total sales   March  April  May  June…

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.