Business, 18.01.2021 14:00 Jana1517

Collections from customers are normally 69 percent in the month of sale, 18 percent in the month following the sale, and 11 percent in the second month following the sale. The balance is expected to be uncollectible. All purchases are on account. Management takes full advantage of the 4 percent discount allowed on purchases paid for by the tenth of the following month. Purchases for August are budgeted at $63,000, and sales for August are forecasted at $69,000. Cash disbursements for expenses are expected to be $14,400 for the month of August. The companyâs cash balance on August 1 was $37,000. Required:
a. Prepare the expected cash collections during August.
b. Prepare the expected cash disbursements during August.
c. Calculate the expected cash balance on August 31.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 13:10

Trey morgan is an employee who is paid monthly. for the month of january of the current year, he earned a total of $4,538. the fica tax for social security is 6.2% of the first $118,500 earned each calendar year, and the fica tax rate for medicare is 1.45% of all earnings for both the employee and the employer. the amount of federal income tax withheld from his earnings was $680.70. his net pay for the month is .

Answers: 1

Answer

Business, 22.06.2019 21:20

What business practice contributed most to andrew carnegie’s ability to form a monopoly?

Answers: 1

Answer

Business, 22.06.2019 22:00

Indicate whether each of the following companies is primarily a service, merchandise, or manufacturing business. if you are unfamiliar with the company, use the internet to locate the company's home page or use the finance web site of yahoo. 1. alcoa inc. 2. boeing 3. caterpillar 4. citigroup inc. 5. cvs 6. dow chemical company 7. ebay inc. 8. fedex 9. ford motor company 10. gap inc. 11. h& r block 12. hilton hospitality, inc. 13. procter & gamble 14. suntrust 15. walmart stores, inc.

Answers: 3

Answer

Business, 23.06.2019 07:30

Anew manufacturing technology makes it easier to make the product and causes a shift in the supply curve. what is the new equilibrium point after implementing the new technology? (hint: determine which direction a easier production shifts the supply curve and use that direction to pick the resulting equilibrium point.) $6 and 20,000 $4 and 30,000 $6 and 30,000 $4 and 20,000

Answers: 3

Answer

You know the right answer?

Collections from customers are normally 69 percent in the month of sale, 18 percent in the month fol...

Questions