Budget: It is forward looking exercise which the company takes by preparing estimated revenues, costs and resources needed by company for a period. It can be prepared for single period or for multiple periods Cash Budget : The amount of budgeted cash inflows and cash outflows are calculated in preparing the Cash budget The cash collection of sales for the month of July and August The cash collections of sales for month of July and August is given below The following information is required to calculate cash collection of sales for the month of July and August The sales amount for the month of May, June, July and august is $240,000, $280,000, $300,000 and $350,000 The cash collection of sales are 30% of sales amount on the month of sales, the following month 50% will be collected and 18% the following month means the sales amount of May of $240,000 will be collected as follows 30% of $240,000 will be collected in May 50% of $240,000 will be collected in June 18% of $240,000 will be collected in July The cash receipt of sales amount from May, June, July and August is calculated as under The total cash receipts for the month of July and August is $273,200 and $305,400 respectively The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

Question

Want to see the full answer?

Answer 1

Question

Chapter 14, Problem 14.11E

To determine

Budget: It is forward looking exercise which the company takes by preparing estimated revenues, costs and resources needed by company for a period. It can be prepared for single period or for multiple periods

Cash Budget: The amount of budgeted cash inflows and cash outflows are calculated in preparing the Cash budget

The cash collection of sales for the month of July and August

The cash collections of sales for month of July and August is given below

The following information is required to calculate cash collection of sales for the month of July and August

The sales amount for the month of May, June, July and august is $240,000, $280,000, $300,000 and $350,000

The cash collection of sales are 30% of sales amount on the month of sales, the following month 50% will be collected and 18% the following month means the sales amount of May of $240,000 will be collected as follows

30% of $240,000 will be collected in May
50% of $240,000 will be collected in June
18% of $240,000 will be collected in July

The cash receipt of sales amount from May, June, July and August is calculated as under

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Financial accounting question

Please given answer general accounting question

Do fast of this question answer general accounting

Answer 2

Question

Chapter 14, Problem 14.11E

To determine

Budget: It is forward looking exercise which the company takes by preparing estimated revenues, costs and resources needed by company for a period. It can be prepared for single period or for multiple periods

Cash Budget: The amount of budgeted cash inflows and cash outflows are calculated in preparing the Cash budget

The cash collection of sales for the month of July and August

The cash collections of sales for month of July and August is given below

The following information is required to calculate cash collection of sales for the month of July and August

The sales amount for the month of May, June, July and august is $240,000, $280,000, $300,000 and $350,000

The cash collection of sales are 30% of sales amount on the month of sales, the following month 50% will be collected and 18% the following month means the sales amount of May of $240,000 will be collected as follows

30% of $240,000 will be collected in May
50% of $240,000 will be collected in June
18% of $240,000 will be collected in July

The cash receipt of sales amount from May, June, July and August is calculated as under

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 14, Problem 14.11E

To determine

Budget: It is forward looking exercise which the company takes by preparing estimated revenues, costs and resources needed by company for a period. It can be prepared for single period or for multiple periods

Cash Budget: The amount of budgeted cash inflows and cash outflows are calculated in preparing the Cash budget

The cash collection of sales for the month of July and August

The cash collections of sales for month of July and August is given below

The following information is required to calculate cash collection of sales for the month of July and August

The sales amount for the month of May, June, July and august is $240,000, $280,000, $300,000 and $350,000

The cash collection of sales are 30% of sales amount on the month of sales, the following month 50% will be collected and 18% the following month means the sales amount of May of $240,000 will be collected as follows

30% of $240,000 will be collected in May
50% of $240,000 will be collected in June
18% of $240,000 will be collected in July

The cash receipt of sales amount from May, June, July and August is calculated as under

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 14, Problem 14.11E

To determine

Budget: It is forward looking exercise which the company takes by preparing estimated revenues, costs and resources needed by company for a period. It can be prepared for single period or for multiple periods

Cash Budget: The amount of budgeted cash inflows and cash outflows are calculated in preparing the Cash budget

The cash collection of sales for the month of July and August

The cash collections of sales for month of July and August is given below

The following information is required to calculate cash collection of sales for the month of July and August

The sales amount for the month of May, June, July and august is $240,000, $280,000, $300,000 and $350,000

The cash collection of sales are 30% of sales amount on the month of sales, the following month 50% will be collected and 18% the following month means the sales amount of May of $240,000 will be collected as follows

30% of $240,000 will be collected in May
50% of $240,000 will be collected in June
18% of $240,000 will be collected in July

The cash receipt of sales amount from May, June, July and August is calculated as under

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 14, Problem 14.11E

To determine

Budget: It is forward looking exercise which the company takes by preparing estimated revenues, costs and resources needed by company for a period. It can be prepared for single period or for multiple periods

Cash Budget: The amount of budgeted cash inflows and cash outflows are calculated in preparing the Cash budget

The cash collection of sales for the month of July and August

The cash collections of sales for month of July and August is given below

The following information is required to calculate cash collection of sales for the month of July and August

The sales amount for the month of May, June, July and august is $240,000, $280,000, $300,000 and $350,000

The cash collection of sales are 30% of sales amount on the month of sales, the following month 50% will be collected and 18% the following month means the sales amount of May of $240,000 will be collected as follows

30% of $240,000 will be collected in May
50% of $240,000 will be collected in June
18% of $240,000 will be collected in July

The cash receipt of sales amount from May, June, July and August is calculated as under

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

Answer 6

Chapter 14, Problem 14.11E

To determine

Budget: It is forward looking exercise which the company takes by preparing estimated revenues, costs and resources needed by company for a period. It can be prepared for single period or for multiple periods

Cash Budget: The amount of budgeted cash inflows and cash outflows are calculated in preparing the Cash budget

The cash collection of sales for the month of July and August

The cash collections of sales for month of July and August is given below

The following information is required to calculate cash collection of sales for the month of July and August

The sales amount for the month of May, June, July and august is $240,000, $280,000, $300,000 and $350,000

The cash collection of sales are 30% of sales amount on the month of sales, the following month 50% will be collected and 18% the following month means the sales amount of May of $240,000 will be collected as follows

30% of $240,000 will be collected in May
50% of $240,000 will be collected in June
18% of $240,000 will be collected in July

The cash receipt of sales amount from May, June, July and August is calculated as under

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

Answer 7

Chapter 14, Problem 14.11E

To determine

Budget: It is forward looking exercise which the company takes by preparing estimated revenues, costs and resources needed by company for a period. It can be prepared for single period or for multiple periods

Cash Budget: The amount of budgeted cash inflows and cash outflows are calculated in preparing the Cash budget

The cash collection of sales for the month of July and August

The cash collections of sales for month of July and August is given below

The following information is required to calculate cash collection of sales for the month of July and August

The sales amount for the month of May, June, July and august is $240,000, $280,000, $300,000 and $350,000

The cash collection of sales are 30% of sales amount on the month of sales, the following month 50% will be collected and 18% the following month means the sales amount of May of $240,000 will be collected as follows

30% of $240,000 will be collected in May
50% of $240,000 will be collected in June
18% of $240,000 will be collected in July

The cash receipt of sales amount from May, June, July and August is calculated as under

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

The total cash receipts for the month of July and August is $273,200 and $305,400 respectively

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 14 - Prob. 14.1ME Ch. 14 - Mini-Exercise 14.2 LO 4, LO 5 Purchases budget In...Ch. 14 - Mini-Exercise 14.3 LO 6 Operating expense budget...Ch. 14 - Mini-Exercise 14.4 LO 8 Cash receipts analysis In...Ch. 14 - Mini-Exercise 14.5 LO 8 Cash budget In addition to...Ch. 14 - Mini-Exercise 14.6 LO 10 Standard product cost In...Ch. 14 - Exercise 14.7 LO 4, 5 Production and purchases...Ch. 14 - Prob. 14.8E Ch. 14 - Prob. 14.9E Ch. 14 - Exercise 14.10 LO 4. 5 Production and purchases...

Concept explainers

Videos

Want to see the full answer?

Chapter 14 Solutions