Cost Management
Cost Management
8th Edition
ISBN: 9781259917028
Author: BLOCHER, Edward
Publisher: Mcgraw-hill Education,
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Chapter 10, Problem 31E

1.

To determine

Calculate the budgeted cash collections in December 2018 from November 2018 credit sales.

2.

To determine

Calculate the total cash receipts during the month of January 2019.

3.

To determine

Calculate the budgeted cash payments in December 2018 for the inventory purposes.

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During 2024, the following transactions were recorded by the Port Hudson Community Hospital, a private-sector not-for-profit institution: Gross charges for patient services, all charged to Patient Accounts Receivable, amounted to $1,667,000. Estimated contractual adjustments with third-party payors amounted to $416,000, and the hospital estimated implicit price concessions would total 33,500. Charity services, not included in transaction 1, would amount to $74,000 had billings been made at gross amounts. Other revenues received in cash were parking lot, $24,000; cafeteria, $36,000; gift shop, $5,900. Cash gifts restricted by the donor for programs amounted to $29,400 for the year. During the year, $57,200 was expended for technician salaries supporting the program identified by the donor (Debit Operating Expense—Salaries and Benefits). Mortgage bond payments amounted to $56,400 for principal and $32,800 for interest. Assume unrestricted resources are used. During the year,…
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Cost Management

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The management of receivables Introduction - ACCA Financial Management (FM); Author: OpenTuition;https://www.youtube.com/watch?v=tLmePnbC3ZQ;License: Standard YouTube License, CC-BY