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Concept explainersConversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.
LO P2 Music World reports the following sales forecast August, $110,000, and September, $240,000. Cash sales are normally 40% of total sales and all credit sales are expected to be collected in the month following the date of sale. Prepare a schedule of cash receipts for September MUSIC WORLD Cash Receipts Budget For Month Ended September 30 September cash sales S Collection of accounts receivable Total budgeted cash receipts $ 96,000 96,000" width="700" height="250" />
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Similar questionsDec. Year Jan. Year 2 Feb. Year 2 Mar. Year 2 1 (Actual) $70,000 $20,000 (Budgeted) $165,000 $ 40,000 (Budgeted) $ 120,000 $ 22,000 (Budgeted) Credit sales $150,000 Cash sales $ 35,000 Based on the company's collection history, 42% of credit sales are collected in month of sale, and the remainder is collected in the following month. Cash collections in January from December credit sales would be: Multiple Choice $40,600. $45,500. $62,000. $60,200.
Exercise 20-19 (Algo) Schedule of cash payments LO P2 Zisk Company purchases direct materials on credit. Budgeted purchases are April, $89,000; May, $119,000; and June, $129,000. Cash payments for purchases are: 70% in the month of purchase and 30% in the first month after purchase. Purchases for March are $79,000. Prepare a schedule of cash payments for direct materials for April, May, and June. ZISK COMPANY Schedule of Cash Payments for Direct Materials Materials purchases Cash payments for: Total cash payments April May June
Ch 22 Homework Hide or show questions eBook Show Me How Calculator Cash Budget The controller of Sonoma Housewares Inc. instructs you to prepare a monthly cash budget for the next three months. You are presented with the following budget information: May June July Sales $108,000 $133,000 $176,000 Manufacturing costs 45,000 57,000 63,000 Selling and administrative expenses 31,000 36,000 39,000 Capital expenditures _ _ 42,000 The company expects to sell about 10% of its merchandise for cash. Of sales on account, 65% are expected to be collected in the month following the sale and the remainder the following month (second month following sale). Depreciation, insurance, and property tax expense represent $6,000 of the estimated monthly manufacturing costs. The annual insurance premium is paid in September, and the annual property taxes are paid in November. Of the remainder of the manufacturing costs, 85% are expected…
Domestic Don't upload image please3.3 Tutorial Questions 3.3.1 Cash Budget 1. A firm reported actual sales of RM65,000 in the month of June and RM70,000 in July. The sales forecasts indicate that sales are expected to be RM85,000, RM92,000 and RM95,750 for the months of August, September and October, respectively. Sales are 60% cash and 40% credit and credit sales are collected evenly over the following 2 month. No other cash receipts were received. What are the firm's expected cash receipts for the month August, September and October? . compile a cash disbursement
PROBLEM 7-I CASH BUDGET The Francine Company, a merchandising firm, has planned the following sales for the next four months: March April May June Total budgeted sales. 50,000 70,000 90,000 60,000 Sales are made 40% for cash and 60% on account. From experience, the company has learned that a month's sales on account are collected according to the following pattern: Month of sale 70% First month following month of sale 20% Second month following month of sale 8% Uncollectible 2% The company requires a minimum cash balance of $4,000 to start a month. Required: B. Assume the following budgeted data for June: Purchases Р52,000 Selling and administrative expenses. 10,000 Depreciation . 8,000 Equipment purchases. 15,000 Cash balance, beginning of June.. 6,000 Using this data, along with your answer to part (1) above, prepare a cash budget in good form for June. Clearly show any borrowing needed during the month. The company can borrow in any dollar amount, but will not pay any…
