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Improved Learning had prepared the following sales budget, schedule of budgeted cash receipts, and cash budget Suppose a change in the receipt of cash from sales on account is as follows: for 2019: (Click the icon to view the revised receipt of cash information.) (Click the icon to view the original budgets.) Read the requirements Improved Learning decided to revise its sales budget to show fourth quarter sales of 950 tablets due to the expectation of increased holiday sales. (Click the icon to view the revised sales budget.) Requirement 1. Revise the schedule of budgeted cash receipts to include the increase in fourth quarter sales and the change in the timing of customer receipts. (If a box is not used in the table, leave the box empty; do not enter a zero. Round your answers to the nearest dollar.) Schdule of Cash Receipts from Customers First Second Third Fourth Quarter Quarter Quarter Quarter Total Total sales First Second Third Fourth Quarter Quarter Quarter Quarter Total Cash Receipts from Customers: Enter any number in the edit fields and then click Check Answer. 1 pant Clear All Check Answer remaining Type here to search 3 E la 9:18 PM 7/25/2020 Improved Learning had prepared the following sales budget, schedule of budgeted cash receipts, and cash budget Suppose a change in the receipt of cash from sales on account is as follows: for 2019: (Click the icon to view the revised receipt of cash information.) (Click the icon to view the original budgets.) Read the requirements. Improved Learning decided to revise its sales budget to show fourth quarter sales of 950 tablets due to the expectation of increased holiday sales. (Click the icon to view the revised sales budget.) Cash Receipts from Customers: Accounts Receivable balance, December 31, 2018 1st Qtr.-Cash sales 1st Qtr.Credit sales collected in 1st qtr. 1st Qtr.-Credit sales collected in 2nd qtr. 1st Qtr.Credit sales collected in 3rd qtr. 2nd Qtr.-Cash sales 2nd Qtr.Credit sales collected in 2nd qtr. 2nd Qtr.Credit sales collected in 3rd qtr. Enter any number in the edit fields and then click Check Answer. 1 pant Clear All Check Answer remaining Type here to search 9:20 PM 7/25/2020 Improved Learning had prepared the following sales budget, schedule of budgeted cash receipts, and cash budget Suppose a change in the receipt of cash from sales on account is as follows: for 2019: (Click the icon to view the revised receipt of cash information.) (Click the icon to view the original budgets.) Read the requirements. Improved Learning decided to revise its sales budget to show fourth quarter sales of 950 tablets due to the expectation of increased holiday sales. (Click the icon to view the revised sales budget.) Requirements 2nd Qtr.-Credit sales collected in 2nd qtr. 2nd Qtr.-Credit sales collected in 3rd qtr. 2nd Qtr.-Credit sales collected in 4th qtr. 3rd Qtr.Cash sales 3rd Qtr. Credit sales collected in 3rd qtr. 1. Revise the schedule of budgeted cash receipts to include the increase in fourth quarter sales and the change in the timing of customer receipts. 2. How will the changes in cash receipts affect the cash budget? 3rd Qtr.Credit sales collected in 4th qtr. 4th Qtr.-Cash sales 4th Qtr.Credit sales collected in 4th qtr. Print Done Total cash receipts from customers Enter any number in the edit fields and then click Check Answer. 1 pant Clear All Check Answer remaining Type here to search 3 . 9:21 PM 7/25/2020 W CYU22-2 (similar to x 8 Question Help o i Original Budgets follows Improved Learning had prepared the for 2019 Click the icon to view the origin Improved Learning decided to revise expectation of increased holiday sal (Click the icon to view the revise Improved Learning Sales Budget For the Year Ended December 31, 2019 First Second Third Fourth 2nd Qtr.-Credit sales collected in 2 Quarter Quarter Quarter Quarter Total Budgeted tablets to be sold 2nd Qtr.Credit sales collected in 2nd Qtr.Credit sales collected in 4 3rd Qtr.Cash sales 800 700$ 600 700 $ 1,600 700$ 900 700 $ 3,900 700 Sales price per unit $ S Total sales 560,000 420,000 $ 1,120,000 $ 630,000$ 2,730,000 3rd Qtr.Credit sales collected in 3 3rd Qtr.-Credit sales collected in 4 feceipts to include the increase in he timing of customer receipts. ffect the cash budget? Schdule of Cash Receipts from Customers 4th Qtr.-Cash sales First Second Third Quarter Fourth Quarter 4th Qtr.Credit sales collected in 4 Quarter Quarter Total Done Total cash receipts from customers Total sales $ 560,000 $ 420,000 $ 1,120,000 $ 630,000 $ 2,730,000 Enter any number in the edit fields Print Done 1 pant Clear All Check Answer remaining Type here to search o 9:23 PM 7/25/2020 W CYU22-2 (similar to x s Question Help 0 Original Budgets follows Schdule of Cash Receipts from Customers Improved Learning had prepared the for 2019 Click the icon to view the origin Improved Learning decided to revise expectation of increased holiday sal (Click the icon to view the revise First Second Fourth Third Quarter Quarter Quarter Quarter Total Total sales s 560,000 $ 420,000 $ 1,120,000$ 630,000$ 2,730,000 Second Third Fourth First Quarter Quarter Quarter Quarter Total 2nd Qtr. Credit sales collected in 2 2nd Qtr.Credit sales collected in 2nd Qtr.-Credit sales collected in 4 3rd Qtr.Cash sales $ 50.000 3rd Qtr.Credit sales collected in 3 56,000 Cash Receipts from Customers: Accounts Receivable balance, December 31, 2018 1st Qtr.-Cash sales (10%) 1st Qtr. Credit sales (90%), 50% collected in 1st qtr. 1st Qtr.Credit sales (90%), 50% collected in 2nd qtr. 2nd Qtr.-Cash sales (10%) 2nd Qtr.Credit sales (90%), 50% collected in 2nd qtr. feceipts to include the increase in he timing of customer receipts. ffect the cash budget? 3rd Qtr.Credit sales collected in 4 252.000 4th Qtr.-Cash sales $ 252,000 42,000 4th Qtr.Credit sales collected in 4 Done Total cash receipts from customers 189,000 Enter any number in the edit fields Print Done 1 pant Clear All Check Answer remaining Type here to search o 9:24 PM 7/25/2020 1 W CYU22-2 (similar to 0 Original Budgets s Question Help x follows 189,000 Improved Learning had prepared the for 2019 Click the icon to view the origin Improved Learning decided to revise expectation of increased holiday sal (Click the icon to view the revise S 189,000 112,000 2nd Qtr.Credit sales (90%), 50% collected in 2nd qtr. 2nd Qtr.Credit sales (90%), 50% collected in 3rd qtr. 3rd Qtr.-Cash sales (10%) 3rd Qtr.Credit sales (90%), 50% collected in 3rd qtr. 3rd Qtr.Credit sales (90%), 50% collected in 4th qtr. 4th Qtr.-Cash sales (10%) 4th Qtr.Credit sales (90%), 50% collected in 4th qtr. 504,000 $ 504,000 2nd Qtr. Credit sales collected in 2 2nd Qtr.Credit sales collected in 2nd Qtr.-Credit sales collected in 4 3rd Qtr.Cash sales 63,000 283,500 805,000 $ 850,500 $ 2,496,500 $ 358,000 $ 483,000 $ Total cash receipts from customers 3rd Qtr.Credit sales collected in 3 feceipts to include the increase in he timing of customer receipts. ffect the cash budget? 3rd Qtr.Credit sales collected in 4 4th Qtr.-Cash sales Accounts Receivable balance, December 31, 2019: 4th Qtr. Credit sales (90%), 50% collected in 1st qtr of 2020 $ 283,500 4th Qtr.Credit sales collected in 4 Done Total cash receipts from customers Improved Learning Enter any number in the edit fields Print Done 1 pant Clear All Check Answer remaining Type here to search 9:25 PM 7/25/2020 1 W CYU22-2 (similar to i Original Budgets s Question Help x follows Improved Learning had prepared the for 2019 Click the icon to view the origin Improved Learning decided to revise expectation of increased holiday sal (Click the icon to view the revise Improved Learning Cash Budget For the Year Ended December 31, 2019 First Second Third Fourth Quarter Quarter Quarter Quarter Total 2nd Qtr. Credit sales collected in 2 2nd Qtr.Credit sales collected in 2nd Qtr.-Credit sales collected in 4 3rd Qtr.Cash sales Beginning cash balance $ 35,000 $ 358,000 30,190||$ 483,000 30,393||$ 805,000 94,214||$ 850,500 35,000 2,496,500 Cash receipts Cash available 393,000 513,190 835,393 944,714 2,531,500 3rd Qtr.Credit sales collected in 3 3rd Qtr.-Credit sales collected in 4 feceipts to include the increase in he timing of customer receipts. ffect the cash budget? Cash payments Capital expenditures Purchases of direct materials 25,000 25,000 25.000 25,000 100,000 4th Qtr.-Cash sales 174.760 280.592 306,384 273,316 1,035,052 4th Qtr.Credit sales collected in 4 Done 51,200 80,000 105,600 78.400 315,200 Total cash receipts from customers Direct labor Manufacturing overhead 76.250 94,250 110.250 93,250 374,000 Enter any number in the edit fields Print Done 1 pant Clear All Check Answer remaining Type here to search 9:26 PM 7/25/2020 1 W CYU22-2 (similar to 8 Question Help x o i Original Budgets follows TU, JU 39,20 TTU, JO 3,20 JI, Improved Learning had prepared the for 2019 Click the icon to view the origin Improved Learning decided to revise expectation of increased holiday sal (Click the icon to view the revise TVICITIAC Urmy UVCCOU Selling and administrative expenses Income taxes 70.600 66,400 72,700 297,100 2,000 87,400 2.000 1,545 2,000 555 2,000 8,000 2.100 0 0 Interest expense 399,810 548,797 638,179 544,666 2,131,452 2nd Qtr.-Credit sales collected in 2 Total cash payments Ending cash balance before financing (6,810) (30,000) (35,607) (30,000) 197,214 (30,000) 400,048 (30,000) 2nd Qtr.Credit sales collected in 2nd Qtr.-Credit sales collected in 4 3rd Qtr.Cash sales 400,048 (30,000) Minimum cash balance desired (36,810) (65,607) 167,214 370,048 370,048 3rd Qtr.Credit sales collected in 3 3rd Qtr.-Credit sales collected in 4 Projected cash excess (de ciency) Financing Borrowing Principal repayments Total effects of Ofinancing feceipts to include the increase in he timing of customer receipts. ffect the cash budget? 37,000 0 0 66,000 0 103,000 (103,000) 0 (103,000) 0 4th Qtr.-Cash sales 66,000 37,000 4th Qtr.Credit sales collected in 4 0 (103,000) 0 Done $ 30,190$ 30,393 $ 94,214||$ 400.048 400.048 Total cash receipts from customers Ending cash balance Enter any number in the edit fields Print Done 1 pant Clear All Check Answer remaining Type here to search 9:27 PM 7/25/2020 Improved Learning had prepared the following sales budget, schedule of budgeted cash receipts, and cash budget Suppose a change in the receipt of cash from sales on account is as follows: for 2019: - formation.) (Click the icon to view the original budgets.) Reference Improved Learning decided to revise its sales budget to expectation of increased holiday sales. (Click the icon to view the revised sales budget.) Improved Learning 2nd Qtr.-Credit sales collected in 2nd qtr. Sales Budget 2nd Qtr.-Credit sales collected in 3rd qtr. For the Year Ended December 31, 2019 2nd Qtr.-Credit sales collected in 4th qtr. First Second Third Fourth 3rd Qtr.Cash sales Quarter Quarter Quarter Quarter Total geted cash receipts to include the increase in 3rd Qtr.Credit sales collected in 3rd qtr. Budgeted tablets to be sold 800 600 1,600 950 3,950 change in the timing of customer receipts. 3rd Qtr.-Credit sales collected in 4th qtr. 700 $ Sales price per unit 700$ 700 $ 700$ 700 bh receipts affect the cash budget? 4th Qtr.-Cash sales $ 560.000 $ 420,000 $ 1,120,000 $ Total sales 665,000 $ 2,765,000 4th Qtr.Credit sales collected in 4th qtr. Print Done Total cash receipts from customers Print Done Enter any number in the edit fields and then click Check Answer. 1 pant Clear All Check Answer remaining Type here to search e 9:28 PM 7/25/2020 1 Improved Learning had prepared the following sales budget, schedule of budgeted cash receipts, and cash budget Suppose a change in the receipt of cash from sales on account is as follows: for 2019: (Click the icon to view the revised receipt of cash information.) (Click the icon to view the original budgets.) Read the requirements Improved Learning decided to revise its sales budget to show fourth quarter sales of 950 tablets due to the expectation of increased holiday sales. (Click the icon to view the revised sales budget.) Requirement 1. Revise the schedule of budgeted cash receipts to include the increase in fourth quarter sales and the change in the timing of customer receipts. (If a box is not used in the table, leave the box empty; do not enter a zero. Round your answers to the nearest dollar.) Schdule of Cash Receipts from Customers First Second Third Fourth Quarter Quarter Quarter Quarter Total Total sales First Second Third Fourth Quarter Quarter Quarter Quarter Total Cash Receipts from Customers: Enter any number in the edit fields and then click Check Answer. 1 pant Clear All Check Answer remaining Type here to search 3 E la 9:18 PM 7/25/2020 Improved Learning had prepared the following sales budget, schedule of budgeted cash receipts, and cash budget Suppose a change in the receipt of cash from sales on account is as follows: for 2019: (Click the icon to view the revised receipt of cash information.) (Click the icon to view the original budgets.) Read the requirements. Improved Learning decided to revise its sales budget to show fourth quarter sales of 950 tablets due to the expectation of increased holiday sales. (Click the icon to view the revised sales budget.) Cash Receipts from Customers: Accounts Receivable balance, December 31, 2018 1st Qtr.-Cash sales 1st Qtr.Credit sales collected in 1st qtr. 1st Qtr.-Credit sales collected in 2nd qtr. 1st Qtr.Credit sales collected in 3rd qtr. 2nd Qtr.-Cash sales 2nd Qtr.Credit sales collected in 2nd qtr. 2nd Qtr.Credit sales collected in 3rd qtr. Enter any number in the edit fields and then click Check Answer. 1 pant Clear All Check Answer remaining Type here to search 9:20 PM 7/25/2020 Improved Learning had prepared the following sales budget, schedule of budgeted cash receipts, and cash budget Suppose a change in the receipt of cash from sales on account is as follows: for 2019: (Click the icon to view the revised receipt of cash information.) (Click the icon to view the original budgets.) Read the requirements. Improved Learning decided to revise its sales budget to show fourth quarter sales of 950 tablets due to the expectation of increased holiday sales. (Click the icon to view the revised sales budget.) Requirements 2nd Qtr.-Credit sales collected in 2nd qtr. 2nd Qtr.-Credit sales collected in 3rd qtr. 2nd Qtr.-Credit sales collected in 4th qtr. 3rd Qtr.Cash sales 3rd Qtr. Credit sales collected in 3rd qtr. 1. Revise the schedule of budgeted cash receipts to include the increase in fourth quarter sales and the change in the timing of customer receipts. 2. How will the changes in cash receipts affect the cash budget? 3rd Qtr.Credit sales collected in 4th qtr. 4th Qtr.-Cash sales 4th Qtr.Credit sales collected in 4th qtr. Print Done Total cash receipts from customers Enter any number in the edit fields and then click Check Answer. 1 pant Clear All Check Answer remaining Type here to search 3 . 9:21 PM 7/25/2020 W CYU22-2 (similar to x 8 Question Help o i Original Budgets follows Improved Learning had prepared the for 2019 Click the icon to view the origin Improved Learning decided to revise expectation of increased holiday sal (Click the icon to view the revise Improved Learning Sales Budget For the Year Ended December 31, 2019 First Second Third Fourth 2nd Qtr.-Credit sales collected in 2 Quarter Quarter Quarter Quarter Total Budgeted tablets to be sold 2nd Qtr.Credit sales collected in 2nd Qtr.Credit sales collected in 4 3rd Qtr.Cash sales 800 700$ 600 700 $ 1,600 700$ 900 700 $ 3,900 700 Sales price per unit $ S Total sales 560,000 420,000 $ 1,120,000 $ 630,000$ 2,730,000 3rd Qtr.Credit sales collected in 3 3rd Qtr.-Credit sales collected in 4 feceipts to include the increase in he timing of customer receipts. ffect the cash budget? Schdule of Cash Receipts from Customers 4th Qtr.-Cash sales First Second Third Quarter Fourth Quarter 4th Qtr.Credit sales collected in 4 Quarter Quarter Total Done Total cash receipts from customers Total sales $ 560,000 $ 420,000 $ 1,120,000 $ 630,000 $ 2,730,000 Enter any number in the edit fields Print Done 1 pant Clear All Check Answer remaining Type here to search o 9:23 PM 7/25/2020 W CYU22-2 (similar to x s Question Help 0 Original Budgets follows Schdule of Cash Receipts from Customers Improved Learning had prepared the for 2019 Click the icon to view the origin Improved Learning decided to revise expectation of increased holiday sal (Click the icon to view the revise First Second Fourth Third Quarter Quarter Quarter Quarter Total Total sales s 560,000 $ 420,000 $ 1,120,000$ 630,000$ 2,730,000 Second Third Fourth First Quarter Quarter Quarter Quarter Total 2nd Qtr. Credit sales collected in 2 2nd Qtr.Credit sales collected in 2nd Qtr.-Credit sales collected in 4 3rd Qtr.Cash sales $ 50.000 3rd Qtr.Credit sales collected in 3 56,000 Cash Receipts from Customers: Accounts Receivable balance, December 31, 2018 1st Qtr.-Cash sales (10%) 1st Qtr. Credit sales (90%), 50% collected in 1st qtr. 1st Qtr.Credit sales (90%), 50% collected in 2nd qtr. 2nd Qtr.-Cash sales (10%) 2nd Qtr.Credit sales (90%), 50% collected in 2nd qtr. feceipts to include the increase in he timing of customer receipts. ffect the cash budget? 3rd Qtr.Credit sales collected in 4 252.000 4th Qtr.-Cash sales $ 252,000 42,000 4th Qtr.Credit sales collected in 4 Done Total cash receipts from customers 189,000 Enter any number in the edit fields Print Done 1 pant Clear All Check Answer remaining Type here to search o 9:24 PM 7/25/2020 1 W CYU22-2 (similar to 0 Original Budgets s Question Help x follows 189,000 Improved Learning had prepared the for 2019 Click the icon to view the origin Improved Learning decided to revise expectation of increased holiday sal (Click the icon to view the revise S 189,000 112,000 2nd Qtr.Credit sales (90%), 50% collected in 2nd qtr. 2nd Qtr.Credit sales (90%), 50% collected in 3rd qtr. 3rd Qtr.-Cash sales (10%) 3rd Qtr.Credit sales (90%), 50% collected in 3rd qtr. 3rd Qtr.Credit sales (90%), 50% collected in 4th qtr. 4th Qtr.-Cash sales (10%) 4th Qtr.Credit sales (90%), 50% collected in 4th qtr. 504,000 $ 504,000 2nd Qtr. Credit sales collected in 2 2nd Qtr.Credit sales collected in 2nd Qtr.-Credit sales collected in 4 3rd Qtr.Cash sales 63,000 283,500 805,000 $ 850,500 $ 2,496,500 $ 358,000 $ 483,000 $ Total cash receipts from customers 3rd Qtr.Credit sales collected in 3 feceipts to include the increase in he timing of customer receipts. ffect the cash budget? 3rd Qtr.Credit sales collected in 4 4th Qtr.-Cash sales Accounts Receivable balance, December 31, 2019: 4th Qtr. Credit sales (90%), 50% collected in 1st qtr of 2020 $ 283,500 4th Qtr.Credit sales collected in 4 Done Total cash receipts from customers Improved Learning Enter any number in the edit fields Print Done 1 pant Clear All Check Answer remaining Type here to search 9:25 PM 7/25/2020 1 W CYU22-2 (similar to i Original Budgets s Question Help x follows Improved Learning had prepared the for 2019 Click the icon to view the origin Improved Learning decided to revise expectation of increased holiday sal (Click the icon to view the revise Improved Learning Cash Budget For the Year Ended December 31, 2019 First Second Third Fourth Quarter Quarter Quarter Quarter Total 2nd Qtr. Credit sales collected in 2 2nd Qtr.Credit sales collected in 2nd Qtr.-Credit sales collected in 4 3rd Qtr.Cash sales Beginning cash balance $ 35,000 $ 358,000 30,190||$ 483,000 30,393||$ 805,000 94,214||$ 850,500 35,000 2,496,500 Cash receipts Cash available 393,000 513,190 835,393 944,714 2,531,500 3rd Qtr.Credit sales collected in 3 3rd Qtr.-Credit sales collected in 4 feceipts to include the increase in he timing of customer receipts. ffect the cash budget? Cash payments Capital expenditures Purchases of direct materials 25,000 25,000 25.000 25,000 100,000 4th Qtr.-Cash sales 174.760 280.592 306,384 273,316 1,035,052 4th Qtr.Credit sales collected in 4 Done 51,200 80,000 105,600 78.400 315,200 Total cash receipts from customers Direct labor Manufacturing overhead 76.250 94,250 110.250 93,250 374,000 Enter any number in the edit fields Print Done 1 pant Clear All Check Answer remaining Type here to search 9:26 PM 7/25/2020 1 W CYU22-2 (similar to 8 Question Help x o i Original Budgets follows TU, JU 39,20 TTU, JO 3,20 JI, Improved Learning had prepared the for 2019 Click the icon to view the origin Improved Learning decided to revise expectation of increased holiday sal (Click the icon to view the revise TVICITIAC Urmy UVCCOU Selling and administrative expenses Income taxes 70.600 66,400 72,700 297,100 2,000 87,400 2.000 1,545 2,000 555 2,000 8,000 2.100 0 0 Interest expense 399,810 548,797 638,179 544,666 2,131,452 2nd Qtr.-Credit sales collected in 2 Total cash payments Ending cash balance before financing (6,810) (30,000) (35,607) (30,000) 197,214 (30,000) 400,048 (30,000) 2nd Qtr.Credit sales collected in 2nd Qtr.-Credit sales collected in 4 3rd Qtr.Cash sales 400,048 (30,000) Minimum cash balance desired (36,810) (65,607) 167,214 370,048 370,048 3rd Qtr.Credit sales collected in 3 3rd Qtr.-Credit sales collected in 4 Projected cash excess (de ciency) Financing Borrowing Principal repayments Total effects of Ofinancing feceipts to include the increase in he timing of customer receipts. ffect the cash budget? 37,000 0 0 66,000 0 103,000 (103,000) 0 (103,000) 0 4th Qtr.-Cash sales 66,000 37,000 4th Qtr.Credit sales collected in 4 0 (103,000) 0 Done $ 30,190$ 30,393 $ 94,214||$ 400.048 400.048 Total cash receipts from customers Ending cash balance Enter any number in the edit fields Print Done 1 pant Clear All Check Answer remaining Type here to search 9:27 PM 7/25/2020 Improved Learning had prepared the following sales budget, schedule of budgeted cash receipts, and cash budget Suppose a change in the receipt of cash from sales on account is as follows: for 2019: - formation.) (Click the icon to view the original budgets.) Reference Improved Learning decided to revise its sales budget to expectation of increased holiday sales. (Click the icon to view the revised sales budget.) Improved Learning 2nd Qtr.-Credit sales collected in 2nd qtr. Sales Budget 2nd Qtr.-Credit sales collected in 3rd qtr. For the Year Ended December 31, 2019 2nd Qtr.-Credit sales collected in 4th qtr. First Second Third Fourth 3rd Qtr.Cash sales Quarter Quarter Quarter Quarter Total geted cash receipts to include the increase in 3rd Qtr.Credit sales collected in 3rd qtr. Budgeted tablets to be sold 800 600 1,600 950 3,950 change in the timing of customer receipts. 3rd Qtr.-Credit sales collected in 4th qtr. 700 $ Sales price per unit 700$ 700 $ 700$ 700 bh receipts affect the cash budget? 4th Qtr.-Cash sales $ 560.000 $ 420,000 $ 1,120,000 $ Total sales 665,000 $ 2,765,000 4th Qtr.Credit sales collected in 4th qtr. Print Done Total cash receipts from customers Print Done Enter any number in the edit fields and then click Check Answer. 1 pant Clear All Check Answer remaining Type here to search e 9:28 PM 7/25/2020 1
