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Hitman42 [59]
2 years ago
6

Carmen’s Dress Delivery operates a mail-order business that sells clothes designed for frequent travelers. It had sales of $400,

000 in December. Because Carmen’s Dress Delivery is in the mail-order business, all sales are made on account. The company expects a 30 percent drop in sales for January. The balance in the Accounts Receivable account on December 31 was $60,000 and is budgeted to be $41,000 as of January 31. Required Determine the amount of cash Carmen’s Dress Delivery expects to collect from accounts receivable during January.
Business
1 answer:
stiv31 [10]2 years ago
8 0

Answer:

The amount of cash Carmen’s Dress Delivery expects to collect from accounts receivable during January is $299,000

Explanation:

The computation of the cash collection is shown below:

= Sales × remaining percentage + opening balance of accounts receivable - ending balance of accounts receivable

= $400,000 × 0.70 + $60,000 - $41,000

= $280,000 + $60,000 - $41,000

= $299,000

The remaining percentage equal to

= Percentage - drop percentage

= 100% - 30%

= 70%

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On January 2, 2018, Hernandez, Inc. signed a 10-year noncancelable lease for a heavy duty drill press. The lease stipulated annu
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Answer:

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g The following facts are known: • The total pounds needed for production are 2 times the units to be produced. • The desired en
OLEGan [10]

Answer and Explanation:

The Preparation of direct material budget is shown below:-

                      Direct Material budget  

Particulars                            Amount              

Units to be produced          $90,000   Y

Material per unit                      2  

Total pounds needed for

production M                    $180,000 2Y

Add: Desired ending Direct

Material Inventory 20%    $36,000 (.2 × 2Y = .4Y)

Total Material requirement $216,000 (2.4Y )

Less: beginning Raw material

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Material to be purchased

Account                             $207,000 (2.3Y)

Cost per pound C               $5

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8 0
2 years ago
Which of the following statements is not correct?
arlik [135]

Answer:

d. The cash budget must be prepared prior to the sales budget because managers want to know the expected cash collections on sales made to customers in prior periods before projecting sales for the current period.

Explanation:

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