General Accounting The following selected data pertain to Phineus Corporation:Cash operating expenses, July 1-31$180,000Depreciation60,000Merchandise purchases in July560,000Estimated payments in July for purchases in June220,000Estimated payments in July for purchases prior to June 50,000Estimated payments in July for purchases in July40%July's cash disbursements are expected to be:A. $404,000B. $464,000C. $674,000D. $734,000E. Some other amount

Step 1: Define Cash DisbursementsThe cash disbursements represent the outflow of cash in the form of…

Answered: The following selected data pertain to…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter8: Budgeting

Section: Chapter Questions

Problem 18E

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Please given correct answer general accounting
expert of general accounting
Serven Corporation has estimated its accrual-basis revenue and expenses for June 20X1 and would like your help in estimating cash disbursements. Selected data from these estimated amounts are as follows: Sales $ 700,000 Gross profit (as a percent of sales) 30 % Increase in trade accounts receivable for the month $ 20,000 Change in accounts payable during month 0 Increase in inventory during month $ 10,000 Variable selling, general, and administrative expenses include a charge for uncollectible accounts of 1% of sales. Total selling, general, and administrative expenses are $71,000 per month plus 15% of sales. Depreciation expense of $40,000 per month is included in fixed selling, general, and administrative expense. Required: On the basis of the preceding data, what are the estimated cash disbursements from operations for June 20X1?
You are provided with the following information taken from Sage Hill Inc's March 31, 2027, balance sheet. Cash Accounts receivable Inventory Property, plant, and equipment, net of depreciation Accounts payable Common stock Retained earnings 1 2 3. 5. 6. 7. Additional information concerning Sage Hill Inc. is as follows. Gross profit is 24% of sales. Actual and budgeted sales data: March (actual) April (budgeted) March April $18.840 $47.100 $62460 $12,280 72.700 23.120 37,100 123,400 22,910 Sales are both cash and credit, Cash collections expected in April are: 152.900 12.320 (40% of $47.100) (60% of $72,700) Half of a month's purchases are paid for in the month of purchase and half in the following month Cash disbursements expecte Purchases March Purchases April $22,910 28,910 $51820 Cash operating costs are anticipated to be $12,110 for the month of April. Equipment costing $2,530 will be purchased for cash in April. The company wishes to maintain a minimum cash balance of $12,240. An…
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Accounting calculate a. b. c.
Calculate January Net Cash Flow (Labeled Y Below): January $10,000 $4,000 Sales Current Month Collection (40%) Previous Month Collection (60%) Total Cash Receipts Estimated Cash Payments (100%) Net Cash Flow O $17,000 O $1,000 $7,000 $22,000 $14,000 $0 X $3,000 Y February $15,000 $6,000 $6,000 $12,000 $15,000 Z March $20,000 $8,000 $9,000 $17,000 $12,000 $5,000
expert of general accounting answer
Calculate January Net Cash Flow (Labeled Y Below): January $10,000 $4,000 Sales Current Month Collection (40%) Previous Month Collection (60%) Total Cash Receipts Estimated Cash Payments (100%) Net Cash Flow O $17,000 O $1,000 $7,000 O $22,000 O $14,000 $0 X $3,000 Y February $15,000 $6,000 $6,000 $12,000 $15,000 Z March $20,000 $8,000 $9,000 $17,000 $12,000 $5,000 PE Pawan das LIE LASER 7 1956 FRENTE BATHARK FO praco Ver P Seher von N Su SE PARE PANE V F BY S TOLEN LETTE E 478 F Me ASPER 2 Fulde P EVE SA 20 CHRIC SU BAGHE 1250 T PARFSE 1620
General accounting
Schedule of Cash Payments Tadpole Learning Systems Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: Schedule of Cash Payments Tadpole Learning Systems Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows: March $157,600 April 148,100 May 134,800 Depreciation, insurance, and property taxes represent $34,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in November. 62% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month. Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May. Enter all amounts as positive numbers. TADPOLE LEARNING SYSTEMS INC. Schedule of Cash…
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