Thirty-five percent of the sales on account are collected in the month of sale, 45% in the month following sale, and the remainder are collected in the second month following sale.

In March therefore, the cashflow will consist of;

35% of March sales

45% of February sales

20% of January sales

= (35% * 40,000) + (45% * 60,000) + (20% * 50,000)

= 14,000 + 27,000 + 10,000

= $51,000

7 0

3 years ago

Discuss the two main types bookkeeping may be completed. which method is easier and why

dezoksy [38]

Answer:

The main difference between Accrual and Cash Basis accounting is the moment when an income or expense is recorded.

Cash Basis recognize and record an income or an expense only when cash is transferred between the parties. However, Accrual Basis recognize them as soon as they occur without the need of cash transaction.

Based on the precious the most used Method is the Accrual Basis, thus, the easiest method, as it does not have to way to the cash operation to record the revenue or the expense.

7 0

4 years ago

Crew Clothing (CC) sells women’s resort casual clothing to high-end department stores and in its own retail boutiques. CC expect

motikmotik

Answer:

January February March

Total Cash Receipts $634,000 $546,000 $582,000

Explanation:

CC’s expected cash receipts from customers

January February March

Sales $510,000 $570,000 $590,000

Cash Receipts

Cash - 20% $102,000 $114,000 $118,000

Credit - 40% $328,000 $228,000 $236,000

Credit - 40% $204,000 $204,000 $ 228,000

Total $634,000 $546,000 $582,000

7 0

3 years ago

OKRs can be executed in stages. The first stage would be keyed to a deadline and then then once the project is completed and run

DerKrebs [107]

Answer:

b) false

Explanation:

OKR is a goal-setting method used by companies. It is impleemented using following steps

Communicate the OKR
Choose a tool used for OKR
Organize the Company's OKR
Set the company's OKR
Set every single OKR for teams, departments and Individuals
Make the changes in OKR if required
Approve the OKR
Evaluate the OKR at each period end.

So, the OKR cannot be implemented in a single step and it requires multiple steps.

Hence the given statement is false.

4 0

3 years ago