Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can some explain the process of this i got the right answers but i really would like a drawn put explanation Dr. X is opening

image text in transcribed
Can some explain the process of this i got the right answers but i really would like a drawn put explanation
image text in transcribed
Dr. X is opening a new dental clinic and attempting to estimate his anticipated cash collections. The top line of the schedule below lists the anticipated gross revenues. Dr. X has been informed to expect that 50% of revenues will be collected in the quarter that services are provided, 30% in the next quarter, 15% in the next quarter, and the remainder will likely never be collected. Use the pick lists associated with each boxed area below to select the correct cash flow associated with the cell. When all cells within a quarterly column are correctly selected, the total cash collections amount for that quarter will turn green. First Quarter Second Quarter Third Quarter 325,000 Fourth Quarter Total estimated revenues 250,000 $ 275,000 $ $ 400,000 50% of current month 125,000 137,500 162,500 200,000 37,500 30% of prior month 15% of two months prior 37,500 97,500 37,500 82,500 41,250 Cash collections 125,000 $ 212,500 $ 282,500 $ 338,750

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management and Cost Accounting

Authors: Alnoor Bhimani, Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan

6th edition

1292063467, 978-1292063461

More Books

Students also viewed these Accounting questions

Question

Outline the four functions and two attitudes in Jungs psychology.

Answered: 1 week ago

Question

Convert the numeral to a HinduArabic numeral. A94 12

Answered: 1 week ago