Dozier Company has a problem managing cash. From the following data determine the cash disbursements for the month of May. Sales: April, $16000; May $20,000; June $23,000. Other data are as follows: Purchases of inventory are 60% of sales. Payments of purchases of inventory are made one month after purchase. Selling expenses are 15% of sales and are paid in the same month as the associated sales. Administrative expenses (excluding rent and depreciation) are 20% of sales and are paid in the same month as the associated sales. Rent expenses is $1,200 per month and is paid each month. Equipment depreciation is 5% of sales.

Historically, Ragman Company has had no significant bad debt experience with its customers. Cash sales have accounted for 20 percent of total sales, and payments for credit sales have been received as follows: 40 percent of credit sales in the month of the sale35 percent of credit sales in the first subsequent month20 percent of credit sales in the second subsequent month5 percent of credit sales in the third subsequent monthThe forecast for both cash and credit sales is as follows. January $185,000 February 184,000 March 193,000 April 195,000 May 200,000 Required: 1. What is the forecasted cash inflow for Ragman Company for May?$fill in the blank 1 2. Due to deteriorating economic conditions, Ragman Company has now decided that its cash forecast should include a bad debt adjustment of 2 percent of credit sales, beginning with sales for the month of April. Because of this policy change, what will happen to the total expected cash inflow related to sales made in April?…

Gilmore Electronics had the following data for a recent year:   Cash sales $135,000 Credit sales 512,000 Accounts receivable determined to be uncollectible 9,650 The firm's estimated rate for bad debts is 1.15% of credit sales.   Conceptual Connection: If Gilmore's estimate of bad debts is correct (1.15% of credit sales) and the gross margin is 20%, by how much did Gilmore's income from operations increase assuming $150,000 of the sales would have been lost if credit sales were not offered?

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On January 1, the Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $40,000 and $1,500 respectively. During the year, the company reported $80,000 of credit sales. There were $500 of receivables written off as uncollected during the year. Cash collections of receivables amounted to $78,200. The company estimates that it will be unable to collect 4% of the year-end accounts receivable balance. The net realizable value of receivables appearing on the balance sheet will amount to

Henderson Company uses the gross profit method to estimate ending inventory and cost of goods sold when preparing monthly financial statements required by its bank. Inventory on hand at the end of July was $124,000. The following information for the month of August was available from company records: Purchases Freight-in Sales. Sales returns Purchases returns $ 222,000 5,500 353,000 9,300 4,600 In addition, the controller is aware of $10,000 of inventory that was stolen during August from one of the company's warehouses. Required: 1. Calculate the estimated inventory at the end of August, assuming a gross profit ratio of 30%. 2. Calculate the estimated inventory at the end of August, assuming a markup on cost of 25%. 1. Estimated ending inventory 2. Estimated ending inventory

I am having trouble with this problem.  The beginning-of-the-period cash balance for the Travis Company was a $7,200 debit. Cash sales for the month were $3,600 and sales on account were $4,800. The company paid $1,500 cash for current-period purchases and also paid $1,800 cash for amounts due from last month.What is the ending debit or credit balance in the Cash account?

Blake distributors had a beginning inventory for June of 100,000. They purchased 25,000 in goods during the month.  Their income from sales was 200,000 with 10,000 in returns. Their ending inventory was 30,000. Their operating expenses were 50,000.  What was the amount of goods available for sale during June? What was the cost of goods sold? What was the net sales? What was the gross profit? Was there an excess or a deficit? What was the net profit or net loss?

Historically, Ragman Company has had no significant bad debt experience with its customers. Cash sales have accounted for 20 percent of total sales, and payments for credit sales have been received as follows: 40 percent of credit sales in the month of the sale35 percent of credit sales in the first subsequent month20 percent of credit sales in the second subsequent month5 percent of credit sales in the third subsequent monthThe forecast for both cash and credit sales is as follows. January $185,000 February 185,000 March 193,000 April 196,000 May 210,000 Required: 1. What is the forecasted cash inflow for Ragman Company for May? 2. Due to deteriorating economic conditions, Ragman Company has now decided that its cash forecast should include a bad debt adjustment of 2 percent of credit sales, beginning with sales for the month of April. Because of this policy change, what will happen to the total expected cash inflow related to sales made in April? (CMA adapted) Cash will…

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