Home / Questions / Wexler Company expects sales of $40000 in July $50 000 in August and $30000 in September W...
Wexler Company expects sales of $40,000 in July, $50,000 in August, and $30,000 in September. Wexler’s experience is that 40% of sales are cash, and the remainder are on account. Accounts receivable are paid: 70% in the month of sale, and 25% in the following month.
A.What are the expected cash receipts on accounts receivable in August for July sales?
B.What are the expected cash receipts on accounts receivable in August for August sales?
C.What are the total expected cash receipts on accounts receivable in August?
D.What are the total expected cash receipts in August?
E.How much of July sales are deemed to be uncollectible?
21.Shorter Company developed the following data for the month of June.
1.June 1 cash balance $2,300.
2.Cash sales in June $67,000.
3.Credit sales for June are $20,000; for May $10,000; and for April $16,000. 60% of credit sales are collected in the month of sale, 20% in the following month, and 10% in the second month following the sale.
4.Purchases for May were $34,000 and for June are $40,000. Half of purchases are paid in the month of purchase and the remainder in the following month.
5.June salaries are $28,400, utilities are $1,090, and depreciation on the building is $1,000.
A.Anticipated cash receipts from accounts receivable in June equal $__________________.
B.Anticipated total cash available in June is $__________________.
C.June cash payments for purchases are $__________________.
D.Anticipated cash balance on June 30 is $__________________.
Mar 13 2020 View more View Less
A division is considering the acquisition of a new asset that will cost $730,000 and have a cash flow of $281,000 per year for each of the four years of its life. Depreci...
Apr 29 2020Assume the following data describes the gasoline market Price per gallon 2.00 2.25 2.50 2.75 3.00 3.25 3.50 Quantity demand 36 35 34 33 32 31 30 Quantity supplied 24 26 2...
Jun 02 2020Using the definition of continuity state how continuity is destroyed at x = c for each of the following graphs.
Jul 18 2021When a person who receives welfarebenefits earns income, those benefits are reduced as earned incomerises. This is referred to asA. an implicit marginal tax.B. the opport...
Jun 15 2018What is the name of the ionic compound LiBr?
Jul 25 2021Insert necessary commas. In the space provided, indicate briefly the reason for each comma. For example, write omitted words, contrasting statement, clarity, short quotat...
Jul 10 2021Marriage Equality is The Socio-Political: Sociology Assignment – Case StudyCase Study 1:Marriage EqualityMarriage equality is the socio-political identity that has been f...
May 01 2020Did Goldman Sachs, Morgan Stanley, and other related institutions have the public or their clientâs best interest in mind? What strategy did they implement to increase ...
Jul 13 2021Ask a friend (who isn't biased by reading this) to generate 25 numbers between 0 and 100 on a scratch piece of paper. Calculate the distribution of digits in the first po...
Aug 13 2021Differentiate between descriptive statistical analysis and inferential statistical analysis.
Aug 24 2020