All categories

3 years ago

Following is the sales budget for Coore, Inc., for the first quarter of 2019.

Business

1 answer:

gayaneshka [121]3 years ago

3 0

Answer:

a. Sales for November = $192,666.67

b. Sales for December = $312,400,00

c. Total cash collections are as follows:

January = $200,580

February = $201,360

March = $191,750

Explanation:

a. Compute the sales for November.

Sales for November = (Accounts receivable balance at the end of the previous quarter - Uncollected sales from December) / Collection rate two months after the sale = ($107,000 - $78,100) / 15% = $192,666.67

b. Compute the sales for December.

Sales for December = Uncollected sales from December / (Collection rate one months after the sale + Collection rate two months after the sale) = $78,100 / (10% + 15%) = $312,400,00

c. Compute the cash collections from sales for each month from January through March.

Note: See the attached excel file for the schedule of cash collections from sales for each month from January through March.

From the attached excel file, total cash collections are as follows:

January = $200,580

February = $201,360

March = $191,750

Download xlsx

You might be interested in

Fisk Corporation is trying to improve its inventory control system and has installed an online computer at its retail stores. Fi

adell [148]

Answer:

Please consider the following explanation

Explanation:

a. EOQ = 560 units

b. 58800 units/560 units = 105 orders

c. EOQ/2 = 560/2 = 280 units (average inventory)

d. 105 orders × $4 ordering cost = $ 420

280 units × $1.50 carrying cost per unit = 420

Total costs = $840

8 0

4 years ago

On July 1, Goblette Company sold some machinery to another company. The two companies entered into an installment sales contract

malfutka [58]

Answer:

The value of all future payments discounted by the interest rate

Explanation:

Since the purchase of the asset is by installments to be paid in the future. The present value to be recognized is the sum of the future payments discounted at the predetermined interest rate.

The first payment due now will not have to be discounted but future payments will have to be discounted to ascertain the present value of the asset to be recognized in the balance sheet.

7 0

3 years ago

Read 2 more answers

A bank has stock shares of $100,000, property assets of $90,000, and cash of $10,000. If households and businesses decide to dep

Llana [10]

The answer is stock shares = $100,000, property assets = $90,000, cash = $60,000, and loans & advences = $50,000

Given,

stock shares = $100,000,

property assets = $90,000,

and cash = $10,000.

households and businesses decide to deposit $50,000 in the bank as checkable deposits.

The balance sheet is a statement of the assets, liabilities, and capital of a business or other organization at a particular point in time.

It also details the balance of income and expenditure over the preceding period.

Therefore when households and businesses decide to deposit $50,000 in the bank as checkable deposits, it will be shown in balance sheet as:

Cash = Previous balance + checkable deposits

= 10,000 + 50,000

= $60,000

Loans & advances : checkable deposits = $50,000

Hence, the balance sheet will be stock shares = $100,000, property assets = $90,000, cash = $60,000, and loans & advences = $50,000.

Learn more about balance sheet:

brainly.com/question/17151793

#SPJ4

8 0

2 years ago

The sales volume variance is the difference between the: A. static budget (based on planned volume) and actual revenue or cost.

Luda [366]

Answer:

The correct answer is the option A: static budget (based on planned volume) and actual revenue or cost.

Explanation:

To begin with, the name of "Sales volume variance" refers to a method used in the business and accounting field with the main purpose of obtaining the comparison between the planned sales and the actual sales. It does it by stating that the difference between those two multiply by the budget price of the product will result in the variance itself. The goal of this method is to measure the sales performance and to see if there are no mathces with the expected revenues then the company has to take a lead and do something about it.

5 0

3 years ago

At Parks and Helms Designers, a group of architects are developing the first drawings for a proposed multiuse office development

Svetlanka [38]

Answer:

The correct answer is (E)

Explanation:

Parks and helms designers have organised a project team, and it is a group where individuals work together to achieve a common goal. Such individuals usually have various capabilities and are held by the manager to exercises for a similar venture. A manager can separate the group into sub-groups according to the needs of a project. Generally, such groups are developed to finish a task in a limited time frame.

5 0

3 years ago