NUBD Co. has the following sales forecasts for the selected three month period in 2021: Month April May June Sales P12,000 7,000 8,000 Seventy five percent of sales are collected in the month of the sale, and the remainder is collected in the following month. Accounts receivable (April 1, 2021) Cash balance (April 1, 2021) P10,000 P5,000 Minimum cash balance is P5,000. Cash can be borrowed in P1,000 increments from the local bank (assume no interest charges).
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How much cash would be collected in June from sales?
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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?Projector Limited has the following projection for the 4 months ending August 2018:MayJuneJulyAugustR’sR’sR’sSales320 000380 000420 000460 000Purchases160 000160 000230 000250 000Rent income11 00011 000??Salaries26 80026 800??1. 50% of the sales are for cash and the balance is on credit.2. All credit sales are collected one month after the sale.3. All purchases are on credit. Creditors are paid in full one month after the month of purchase.4. The tenants rent contract stipulates an increase of 20% from 1 July 2018.5. Salaries are expected to increase to R32 000 per month as at 1 August 2018.6. A new motor vehicle will be purchased during June 2017. Repayments of R6 000 per month will commence on 1 July 2017.7. Advertising costs are expected to be 2% of sales from 1 June 2018.8. A fixed deposit of R25 000 will mature in the month of July 2018.9. On 31 May 2018, the bank is expected to have a favourable balance of R420 000.Required:Prepare a Cash Budget for the three (3) months ending…
- 0. Swetres Company has the following sales forecast for the selected three-month period in 2018. April, P120,000; May, P70,000; June, P80,000. 70% of sales are collected in the month of sale, and the balance are collected in the following month. Accounts receivable balance in April 1, P100,000. Cash balance in April 1, P60,000. Minimum cash balance required is P50,000. Cash can be borrowed in the multiples of P10,000 from local bank (disregard the interest charges). What is the cash balance at the end of April assuming that cash is received only from customers and that P200,000 is the cash out during April? 11.Selected information from the accounting records of Roleg Co. is as follows: Net accounts receivable at Dec. 31, 2018, P900,000; Net accounts receivable at Dec. 31, 2019, P1,000,000; Inventories at Dec. 31, 2018, P1,100,000; Inventories at Dec. 31, 2019, P1,200,000; Accounts receivable turnover, 5 times; inventory turnover, 4 times. What is Roleg's gross margin for 2019? 12.…10. Right Answer Company has the following sales forecast for the selected three-month period in 2018. April, P120,000; May, P70,000; June, P80,000. 70% of sales are collected in the month of sale, and the balance are collected in the following month. Accounts receivable balance in April 1, P100,000. Cash balance in April 1, P60,000. Minimum cash balance required is P50,000. Cash can be borrowed in the multiples of P10,000 from local bank (disregard the interest charges). What is the cash balance at the end of April assuming that cash is received only from customers and that P200,000 is the cash out during April? 11.Selected information from the accounting records of Check Answer Co. is as follows: Net accounts receivable at Dec. 31, 2018, P900,000; Net accounts receivable at Dec. 31, 2019, P1,000,000; Inventories at Dec. 31, 2018, P1,100,000; Inventories at Dec. 31, 2019, P1,200,000; Accounts receivable turnover, 5 times; inventory turnover, 4 times. What is Check Answer Company's…Data regarding a company's monthly sales for the last six months of the year and its projected collection patterns are shown below:Forecasated sales:July = P775,000August = P750,000September = P825,000October = P800,000November = P850,000December = P900,000Types of sales:Cash sales = 20%Credit sales = 80%Collection pattern for credit sales:In the month of sale = 40%In the first month following the sale = 57%Uncollectible = 3% The cost of merchandise averages 40% of its selling price. The company's policy is to maintain an inventory equal to 25% of the next month's forecasted sales. The inventory balance at cost is P80,000 as of June 30. How much is the total cash receipts that would be budgeted for the month of September?
- Fine Co. has the following sales forecasts for the third quarter of 2021: P85,000 (July), P88,000 (Aug), P82,000 (Sep). All sales are on credit. Seventy-five percent are collected in the month of sales and remainder is collected the following month. Minimum cash balance is P10,000. How much cash would be collected in September from sales? A P61,500 P66,000 P87,250 D P83,500Shown below is the sales forecast for Cooper Inc. for the first four months of the coming year Apr $14,000 S70.000 Feb Cash sales Credit sales On average, 50% of credit sales are paid for in the month of the sale. 30% in the month following sale, and the remainder are paid two Jan $15.000 $100,000 $24,000 $120.000 Mar $20,000 $90,000 months after the month of the sale Assuming there are no bad debts, the expected cash intlow in March is:1. A company has a sales plan for 2020 based on the estimated end of the month as follows: Month Total sales July Rp 28.000,00 August 35.000,00 September 42.000,00 Payment terms are set: 3/20/net 30. Based on the experience of the customer's payment method as follows: 60% of sales every month is collected at 20 days after the month of pend. 30% accumulated in the time after 20 days in the same month, i.e. in the first month after the month of Dec. 10% collected in the second month after the month of Dec. Required: prepare a schedule/budget for collection of receivables (receivables collection budget)
- Wonderland Company estimates sales (in $) for 2021 for the four quarters as follows : Q1 Q2 Q3 Q4 Sales $ 200 $ 300 $ 250 $ 400 The accounts receivable at the beginning of 2021 is $ 120. The account receivable collection period is 45 days. Purchases from suppliers by Wonderland Company for each quarter are 60% of the estimated sales for the next quarter. Sales for Q1 2022 are $ 350. Payments to suppliers are the same as purchases from the previous period (quarter). Each month is assumed to have 30 days. Salaries, taxes and other expenses are estimated at 20% of sales. Interest and dividend expenses are $ 20 each quarter. Capital expenditure for business expansion in 2021 is planned for the second quarter for $ 100. The management of Wonderland Company has a policy to maintain a minimum cash balance (minimum cash balance) of $ 10 each quarter, and in early 2021 there is no cash balance. Question: a. Calculate the cash inflow and cash outflow…Dora Distribution has projected the following quarterly sales. The accounts receivable at the beginning of the year is $970 and the collection period is 60 days. What are collections for the first quarter? Q1 Q2 Q3 Q4 Sales $ 1,585 $ 1,705 $ 1,995 $ 2,075Black Corporation has forecasted sales in 2020 as follows: Jan-120,000 Feb-P160,000 Mar-P180,000 Apr-P240,000. December 2019 sales is P100,000. Sales are collected 25% for the month, 50% the following month and balance for the month again. What is the total cash receipts for the first quarter of 2020? P540,000 9420,000 P630,000 9400,000