8) Avery is planning to purchase inventory for resale costing $100,000 in July. $150,000 in August and $90,000 for September. The company pays 40% for the goods in the month of purchase and 60% in the month following the purchase. What is the budgeted cash disbursement for the purchase of the inventory for the month of September? a) $100,000 b) $150,000 c) $90,000 d) $126,000
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- Donald Company expects its purchases for June to be 130,000 and its purchases for July to be 124,000. Donald pays for 60% of its purchases in the month of purchase and receives a 2% discount. donald pays for the remaining 40% in the next month without discount. For purchases only, what are the expected cash payment in July?A. 124,912B. 127,392C. 124,000D. 124,40032. If Adel allows a 2 percent cash discount if collected in the month of sale, it isexpected that 60 percent will be collected in the month of sale and the balance in the month following. How much will be collected from customers in December under the newpercentages?a. P17,500b. P18,500c. P16,290d. P20,000f) The Cathy Specialist Corporation approached you to compile a cash disbursement schedule for the month of March, April and May. Use the following information. Sales: January-RMS20,000; February-RM540,000; March-RM550,000; April=RM600,000; May-RM660,000; June-RM670,000. Purchases: Purchases are calculated as 70% of the following month's sales, 50% of purchase are made in cash, 30% of purchases are settled one month after purchase, and the remaining 20% of purchase are settled two months after purchase. c) d) e) g) h) the firm's expected cash receipts for a) b) Rent: The firm pays rent of RM9,500 per month. Wages & salaries: the fixed wage and salary costs are RM7,500 per month plus a variable cost of 6.5% of the current month's sales. Taxes: the tax bill to be paid in May amount to RM57,500. Fixed asset outlay: new equipment will be acquired during March at a cost of RM85,000. Interest payment: an amount of RM32,000 for interest is due in March. Cash Dividend: Dividends of RM15,000…
- b. If the inventory costs $5 per unit and will be financed through the bank at 6 percent per annum, what is the monthly financing cost and the total for the four months? (Round your intermediate calculations and final answers to 2 decimal places. Do not leave any empty spaces; input a 0 wherever it is required.) Financing cost October November December January Total financing cost tA0. Swetres Company has the following sales forecast for the selected three-month period in 2018. April, P120,000; May, P70,000; June, P80,000. 70% of sales are collected in the month of sale, and the balance are collected in the following month. Accounts receivable balance in April 1, P100,000. Cash balance in April 1, P60,000. Minimum cash balance required is P50,000. Cash can be borrowed in the multiples of P10,000 from local bank (disregard the interest charges). What is the cash balance at the end of April assuming that cash is received only from customers and that P200,000 is the cash out during April? 11.Selected information from the accounting records of Roleg Co. is as follows: Net accounts receivable at Dec. 31, 2018, P900,000; Net accounts receivable at Dec. 31, 2019, P1,000,000; Inventories at Dec. 31, 2018, P1,100,000; Inventories at Dec. 31, 2019, P1,200,000; Accounts receivable turnover, 5 times; inventory turnover, 4 times. What is Roleg's gross margin for 2019? 12.…38) Same information as before - you start your business on January 1st. Your sales are forecasted to be $125,000 for January, $140,000 for February, $160,000 in March and $165,000 in April. You expect to collect 60% of your sales in the month of the sale, 25% the following month, 10% two months later and 4% three months later. What total is the balance in your Allowance for Uncollectible Accounts at the end of April if you have not yet written off any accounts ?
- Dynamic Futon forecasts the following purchases from suppliers: Jan. Feb. Mar. Apr. May Jun. Value of goods ($ millions) 33 29 26 23 21 21 a. Fifty percent of goods are supplied cash-on-delivery. The remainder are paid with an average delay of one month. If Dynamic Futon starts the year with payables of $23 million, what is the forecasted level of payables for each month? (Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place.) b. Suppose that from the start of the year the company stretches payables by paying 50% after one month and 30% after two months. (The remainder continue to be paid cash on delivery.) Recalculate payables for each month assuming that there are no cash penalties for late payment. (Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place.)16. On December 31,2021, the Denjay Gift Shop had outstanding accounts receivable balance of P20,000. Denjay's sales are roughly evenly split between credit and cash sales, with half the credit sales collected in the month after sale and the remainder two months after the sale. historical and projected sales for the gift shop are: Month Sales October 2021 150,000 November 2021 200,000 December 2021 300,000 January 2022 (projected) 400,000 How much did Denjay realized during January from sales and collection?Dynamic Futon forecasts the following purchases from suppliers: Jan. Feb. Mar. Apr. May Jun. Value of goods ($ millions) 37 33 30 27 25 25 a. Sixty percent of goods are supplied cash-on-delivery. The remainder are paid with an average delay of 1 month. If Dynamic Futon starts the year with payables of $27 million, what is the forecasted level of payables for each month? (Do not round intermediate calculations. Enter your answers in millions of dollars rounded to 1 decimal place.) Jan. Feb. Mar. Apr. May Jun. Payables b. Suppose that, from the start of the year, the company stretches payables by paying 50% after 1 month and 20% after 2 months. (The remainder continue to be paid cash-on-delivery.) Recalculate payables for each month assuming that there are no cash penalties for late payment. Assume that Dynamic Futon didn't have any payable balance at the start of the year. (Do not round intermediate calculations. Enter your answers in millions of…
- The invoice price of goods purchased is $10,000 with purchase terms of 4/7, n/30 and FOB shipping point. The invoice is paid within the week of receipt and shipping costs are $200. By what amount should the purchaser's Inventory be increased?Company AA has forecast purchases to be .000 in june. 377,000 in July s317,000 in Augunt nd 2000September. Purchases average 30 paid in cah, 70 are on credit Cedit purchases are paid soin the month of purchase, 30 during the month following and 1on ihe second month folowing the purchase Cash paymnents in Sepeember would be OS119.330 $291 015. On December 31,2021, the Denjay Gift Shop had outstanding accounts receivable balance of P20,000. Denjay's sales are roughly evenly split between credit and cash sales, with half the credit sales collected in the month after sale and the remainder two months after the sale. historical and projected sales for the gift shop are: Month Sales October 2021 150,000 November 2021 200,000 December 2021 300,000 January 2022 (projected) 400,000 Under the circumstances what should the balance in accounts receivable be at the end of January 2022?