Question
Hallaway Inc. developed the following data for the month of June. Cash balance, June 1st$123,000 Cash sales in June600,000 Credit sales for the month of:
Hallaway Inc. developed the following data for the month of June.
Cash balance, June 1st$123,000
Cash sales in June600,000
Credit sales for the month of:
April400,000
May300,000J
une500,000
Purchases for the month of:
May450,000
June400,000
Other expenses in June:
Salaries325,000
Utilities33,000
Depreciation100,000
70% of credit sales are collected in the month of sale, 15% in the following month, and 10% in the second month following the sale.
25% of purchases are paid in the month of purchase and the remaining 75% in the following month.
100% of other expenses are paid in the month recorded.
Question 32(2 points)
Question 32 options:
Calculate the anticipated cash receipts from accounts receivable in the month of June.
Question 33(2 points)
Question 33 options:
Calculate the anticipated total cash available from all sources in the month of June.
Question 34(2 points)
Question 34 options:
Calculate the anticipated cash payments for purchases in the month of June.
Question 35(1 point)
Question 35 options:
Calculate the anticipated cash payments for other expenses in the month of June.
Question 36(3 points)
Question 36 options:
Calculate the anticipated cash balance at the end of the month of June.
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