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Flounder Landscaping Company is preparing its budget for the first quarter of 2022. The next step in the budgeting process is to prepare cash receipts
Flounder Landscaping Company is preparing its budget for the first quarter of 2022. The next step in the budgeting process is to prepare cash receipts and cash payments schedules. To that end the following information has been collected. Clients usually pay 60% of their fee in the month that service is provided, 30% the month after, and 10% the second month after receiving service Actual service revenue for 2021 and expected service revenues for 2022 are: November 2021, $130,000; December 2021. $109,000 January 2022,5148,000; February 2022, $156,000; March 2022, 9176,000. Purchases of landscaping supplies are paid 30% in the month of purchase and 70% the following month. Actual purchases for 2021 and expected purchases for 2022 are: December 2021. $21.500, January 2022. $19,600; February 2022. $23,400; March 2022, $26,700 (21) Your answer has been saved. See score details after the due date. Prepare a schedules of expected collections from clients for each month in the first quarter of 2022 and for the quarter in total, (Do not leave any answer field blank. Enter O for amounts) FLOUNDERLANDSCAPING COMPANY Schedule of Expected Collections From Clients For the Quarter Ending March 31, 2022 January February March November $ 12000 $ 0 0 December 32.700 10.900 January 38.800 44.400 14.00 February 93 600 46.000 Mac 0 $ December 32.700 10.900 0 January 88.800 44.400 14,800 February 0 98600 46,800 March 0 105,600 Total collections $ 134 500 $ 148.900 $ 167,200 $ Attempts: 1 of 1 used (32) Prepare a schedules of expected payments for landscaping supplies for each month in the first quarter of 2022 and for the quarter in total. (Do not leave any answer field blank Enter for amounts) FLOUNDERLANDSCAPING COMPANY Schedule of Expected Payments for Landscaping Supplies January February March December $ January February March Total 0772 Attempts: 1 of 1 used (a2) Prepare a schedules of expected payments for landscaping supplies for each month in the first quarter of 2022 and for the quarter in total. (Do not leave any answer field blank. Enter O for amounts.) FLOUNDERLANDSCAPING COMPANY Schedule of Expected Payments for Landscaping Supplies January February March Qui December $ January February March Total $ Sayments $ Save for lates Attempts: 0 of 1 used Submit Answer (61) The parts of this question must be completed in order. This part will be available when you complete the part above
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