Sales last year during June were $20,000. Sales this June were $21,500. What percentage increase or decrease in sales has occurred? If this trend continues, what sales should be forecast for next June? Please include your calculation procedure.

Sales last year during June were $20,000. Sales this June were $21,500. What percentage increase or decrease in sales has occurred? If this trend continues, what sales should be forecast for next June? Please include your calculation procedure.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter22: Providing And Obtaining Credit

Section: Chapter Questions

Problem 8MC: Assume that it is now July of Year 1 and that the brothers are developing projected financial...

See similar textbooks

Related questions

Q: The quarterly sales in millions for AutoKo Corporation, an automobile dealership company over the…

A: To compute the seasonal factor of Quarter 3, the first average sales are required to be calculated…

Q: A firm has projected sales in October, November, and December of P10,000, P20,000, and P30,000,…

A: Cash budget means the expected cash receipts and expected cash payment for the next year. Cash…

Q: Calculate the returns percentage for the Missy top department for Fall if gross sales are $5,750,000…

A: The returns percentage appears to be a ratio or percentage that displays how many sales products…

Q: Worton Distributing expects its September sales to be 25% higher than its August sales of $154,000.…

A: August Sales = $154,000 September Sales = $154,000 + 25% = $192,500 Cash Collection in September…

Q: Marcia Almeida works as a sales analyst for a toy manufacturer. She predicts that toy sales will…

A: Here, Sales decrease from May to June is by 5% Amount of Sales Decrease = $1,75,000 The Total…

Q: Over the past year Meredith and Shunt Manufacturing had an average quarterly sales for the past 5…

A: Total average= Total seasonal average/4 Seasonal index= Season average/Total average

Q: The Cannon Ball has projected its first quarter sales at $11,200, second quarter sales at $10,900,…

A: Calculation of cash surplus (deficit) at the end of the first quarter: Answer: Cash deficit at the…

Q: The ABC Company expects to have sales of $30,000 in January, $33,000 in February, and $38,000 in…

A: Cash receipts will only cover sales from January and no other month

Q: Data regarding a company's monthly sales for the last six months of the year and its projected…

A: Budgeted Cash receipts for September = (Budgeted credit Sales for August X 57%) + (Budgeted Sales…

Q: Sales last year for a department were $124,560. This year planned sales are forecast to increase by…

A: Planned sales for this year = Last year sales + Increase in sales this year

Q: A company forecasts that the following sales: in May, 321 BD in June and 243 in JulySales will be…

A: Sales in June = 321 Sales in July = 243 30% sales paid in cash, 30% after one month and 40% paid…

Q: npany forecasts that the following sales: 106 BD in May, 396 BD in June and 207 BD in July. Sales…

A: Given information : Sales in may 106 Sales in June 396 Sales in July 207 Dividends in July…

Q: The following table shows a tool and dies company’s quarterly sales for the current year. What sales…

A: We can use naive forecast trend to predict sales

Q: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is…

A: Cash collected means total cash received from :- (i) Cash sales (ii) Cash received from debtors.…

Q: r answers in the tabs below. as from sales, by month and in total, for the second quarter. sh…

Q: AXE Co. expects to have sales of P30,000 in January, P33,000 in February, and P38,000 in March. If…

A: Credit sales are the sales in which the corporation does not get the receipts from the sales of…

Q: A firm has projected sales in May, June, and July of P10,000, P20,000, and P30,000, respectively.…

A: Usually, the Firm needs to assess the cash position to assess the cash requirement from time to…

Q: Using the following Quarterly Sales Demand Data; read and answer the questions listed below.…

Q: A company forecasts that the following sales: 118 BD in May, 138 BD in June and 285 BD in July.…

A: The cash receipts budget is prepared to estimate the total cash inflows in the upcoming period from…

Q: If last year's sales were $906,050 and a store was planning an increase in sales of 3.75% and a…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: The Palos Company expects sales for June, July, and August of $48,000, $54,000, and $44,000,…

A: Credit sales: Sales are made to customer but payment will be delayed to a future date. Formulas:

Q: Trapp Co. was organized on August 1 of the current year. Projected sales for the first three months…

A: Cash sales means the sales which are done by the seller against cash receipts. So, cash sales are…

Q: Planet Company purchased goods worth $50,000 in July and expects to purchase goods worth $70,000 in…

A: Solution:- Computation of total expected cash disbursement for the month of August as follows…

Q: Halifax Shoes has 30% of its sales in cash and the remainder on credit. Of the credit sales, 65% is…

A: Cash sales in August = Total sales x 30% = $95,000 x 30% = $28,500

Q: Millen’s managers have made the following additional assumptions and estimates Estimated sales for…

A: ACCOUNT RECEIVABLE; An account receivable is defined as it is money that has not been paid by…

Q: Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter. The…

A: The following calculations are done in the records of Paymore products to evaluate the payments…

Q: Read the below information and answer the following questions INFORMATION Extract of the Statement…

A: Cash Budget are prepared using the information provided to find out the cash balance for June and…

Q: Sioux Corporation is estimating the following sales for the first four months of next year:…

Q: draw the graph of profit income forecast monthly for 6 consecutive months by considering the…

A: The provided data is: 25% 40% 54% 73% 62% 47%

Q: Sales last year for a department were $98,600. This year planned sales are forecast to decrease by…

A: Compute forecasted decrease in sales as shown below:

Q: Shown below is the sales forecast for Tulip's industry. For the first four Quarter of the coming…

A: Budgeting: It is a process of planning the work to be performed. Under this process a formal plan is…

Q: January 2100 February 2500 March 2550 Assume that you found an average monthly geometric…

A: Meaning of average monthly geometric rate of change:- It refers to a situation where successive…

Q: Paymore Products places orders for goods equal to 75% of its sales forecast in the next quarter…

A: The account receivables are 1/3th of the current quarter and 2/3rd is received in the next quarter.…

Q: Suppose that the Sales in December 2019 were 86,536. The sales are expected to grow by 9% in January…

A: Sales for June is calculated as per the information provided. In June 40% of May sales is collected…

Q: If a firm had credit sales of $1,550,000 for March and collected its sales 30% in the month of sale…

A: March sales collected in March = Credit March sales x 30%

Q: The table contains the Sales estimates for the next year. Sales are collected as follows:In the…

A: Cash collection in November will be 20% of August sales, 14% of September Sales, 23% of October…

Q: Over the past year Bob and Clark Manufacturing had an average quarterly sales for the past 5 years…

A: Seasonal Index has an average value of 1. If seasonal index is above 1, it indicates variation due…

Q: Sales at LL Boutique decreased 10% this month compared to last month. If sales this month were…

A: Company during the normal course of its business is regulating the sales for the purpose of…

Q: Fast Distribution Company expects its September sales to be 20% higher than its August sales of…

A: Cash balance at the end of September 30 can be calculated by using this equation Cash balance at end…

Q: The table contains the Sales estimates for the next year. The Purchases are 55% of Sales.…

A: Outflow of cash refers to the cash going out of the business. It includes the amount of money paid…

Q: Millen’s managers have made the following additional assumptions and estimates: Estimated sales for…

A: The operating cycle refers to the whole process cycle, begins with purchasing and ends with a…

Q: A company has international sales with 90 days term. Their Inventory turnover period is 30 days.…

A: The activity ratios are the accounting ratios that measures the activity level of…

Q: Earthie's Shoes has 55% of its sales in cash and the remaining 45% are credit sales. Of the credit…

A: Collection in June will be: Cash sales of June. 70% of credit sales of June. 15% of credit sales of…

Question

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2

Step 3

Step 4

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Use the following information to determine the Prior Year and Current Year trend percents for net sales using the Year as the base year Enter the answers thousands of dollars.
Sales last year during June were $20,000. Sales this June were $21, 500. What percentage increase or decrease in sales has occurred? If this trend continues, what sales should be forecast for next year?
Create an appropriate graph to show the correlation between the total revenuegenerated by Tesco and the number of its stores over the last recorded fiveyears?
Using the following Quarterly Sales Demand Data; read and answer the questions listed below. Quarter # Actual Sales (dollars) 1 1416 2 1398 3 1274 4 1167 Calculate the average quarterly Seasonal Index value? (rounded to 2 decimal places). Calculate the total sales if there is a 35% total annual sales decrease next year? (rounded to the nearest whole number) Calculate the Seasonal Index value for Quarter 3? (rounded to 2 decimal places)
Suppose a company has had the historic sales figures shown below. What would be the forecast for next years sales using the average approach?
If Year 1 sales equal $750, Year 2 sales equal $1500, and Year 3 sales equal $930, the percentage to be assigned for Year 2 in a trend analysis, assuming that Year 1 is the base year, is
Assume that it is now July of Year 1 and that the brothers are developing projected financial statements for the following year. Further, assume that sales and collections in the first half-year matched the predicted levels. Use the Year-2 sales forecasts shown in the following table to estimate next year’s receivables levels for the end of March and for the end of June.
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?
Suppose the company has to revise its estimates because of a downturn in the economy. Unit sales for August, September, and October will be half (50%) of the original estimates. Revise the estimates in cells 1311 through 1313. After this is done, check your forecasted balance sheet. It should still balance! What effect will this new state of affairs have on net income and borrowing? Explain why these items changed.
Using data available in the case, calculate the annual growth rate from 2020 to 2021 (in percentages). All calculations should be rounded to two decimals (e.g., 12.77%). > Answer is complete but not entirely correct. 2021 2020 2020-2021 Revenue 2,057,622 1,736,432 18.50 % Cost of Goods Sold 1,259,830 921,980 36.64 % Gross Profit 797,792 814,452 (1.02) % Operating Expenses 789,795 570,245 38.50 % Operating Income 7,997 244,207 2,953.73% Net Income 14,553 191,960 (92.42) %
Suppose we want to compute the four-quarter moving average of Company ABC’s sales as of the beginning of the first quarter of 2022. ABCs sales in the previous four quarters were as follows: 1Q 2021, R 1,200,000; 2Q 2021, R 800,000; 3Q 2021, R 750,000; and 4Q 2021, R 1,600,000. Calculate the four-quarter moving average of sales as of the beginning of the first quarter of 2022.
Assume figures were presented for the past 5 years on merchandise sold at Chicago department and discount stores ($ million). Sales in 2025 were $3,414; in 2024, $3,674; in 2023, $2,948; in 2022, $3,412; and in 2021, $3,476. Using 2021 as the base year, complete a trend analysis. Note: Round your answers to the nearest whole percent. Sales Sales (in percent) $ 2025 3,414 % $ 2024 3,674 % $ 2023 2,948 % $ 2022 3,412 % $ 2021 3,476 100 %