None Weisbro and Sons purchases its inventory one quarter prior to the quarter of sale. Thepurchase price is 60 percent of the sales price. The accounts payable period is 60 days. Theaccounts payable balance at the beginning of Quarter 1 is $28,600. What is the amount ofthe expected disbursements for Quarter 2 given the following expected quarterly sales?Quarter 1:$ 81,000Quarter 2:$ 122,000Quarter 3:$ 114,000Quarter 4:$ 123,000 $71,600 $65,400 $73,400 $70,000 $48, 600

Disbursements for Purchases in Quarter 1Weisbro and Sons buys inventory in Quarter 1 for Quarter 2…

Answered: Weisbro and Sons purchases its…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 11EB: Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase,...

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Fitbands estimated sales are: What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?
Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase, and 5% in the second month following the purchase. What are the cash payments if it made the following purchases in 2018?
Weisbro and Sons purchases its inventory one quarter prior to the quarter of sale. The purchase price is 60 percent of the sales price. The accounts payable period is 60 days. The accounts payable balance at the beginning of Quarter 1 is $27,200. What is the amount of the expected disbursements for Quarter 2 given the following expected quarterly sales? Quarter 1: $ 74,000 Quarter 2: $ 115,000 Quarter 3: $ 107,000 Quarter 4: $ 116,000
Mk. 219.
The Amherst Corporation has a 45-day accounts receivable period. The estimated quarterly sales for this year are $28,000, $41,000, $35,500, and $32,500, respectively, for the next four quarters. What is the accounts receivable balance at the beginning of the quarter 2? Each quarter has 90 days. Multiple Choice $36,750 $34,500 $20,500 $14,000 $28,000
Use the information provided below to prepare the following for November and December 2021: 4.1 Debtors Collection Schedule 4.2 Cash Budget INFORMATION The following budgeted information was provided by Sentinel Enterprises: 1. The expected bank balance on 31 October 2021 is R20 000 (favourable). 2. Credit sales are forecast as follows: October 2021 November 2021 December 2021 R280 000 R240 000 R320 000
What is the correct answer? A,B,C or D?
b. If the inventory costs $5 per unit and will be financed through the bank at 6 percent per annum, what is the monthly financing cost and the total for the four months? (Round your intermediate calculations and final answers to 2 decimal places. Do not leave any empty spaces; input a 0 wherever it is required.) Financing cost October November December January Total financing cost tA
Ammer Products has an average accounts payable balance of $850,000 and its annual cost of goods sold is $8,750,000. Assume there are 365 days per year. What is Ammer's payables deferral period? * 50.00 days O 35.46 days O 25.50 days O 30.50 days O 42.33 days
ABC company's records included the following, assume 365 days in a year: Accounts Receivable, 12/31/20 $ 860,000 Accounts Receivable, 12/31/19 780,000 Merchandise Inventory, 12/31/20 900,000 Merchandise Inventory, 12/31/19 Net Sales during 2020 Cost of Sales during 2020 800,000 8,364,000 5,950,000 What is the average collection period, in days, for Solomon's accounts receivable O 35.8 days O 36.3 days O 34.1 days 37.5 days
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D3 Company marks up all merchandise at 25% of gross purchase. All purchases are made on accountwith terms of 1/10, net/60. Purchase discounts which are recorded as miscellaneous income are alwaystaken. Normally, 60% of each month’s purchases are paid for in the month of purchase, while the other40% are paid during the first 10 days of the first month after purchase. Inventories of merchandise atthe end of each month are kept at 30% of the next month’s projected cost of goods sold.Terms for sales on account are 2/10, net/30. Cash sales are not subject to discount. Fifty percent ofeach month;s sales on account are collected during the month of sale, 45% are collected in thesucceeding month and the remainder are usually uncollectible. Seventy percent of the collections in themonth of sale are subject to discount while 10% of the collections in the succeeding month are subjectto discount.Projected sales data for selected month follow:Sales on Account Gross Cash salesDecember P1,900,000…

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