Question
How do I describe $62,130 that you see on the very right of the Schedule of Expected Cash Collections in a sentence? How do I
How do I describe $62,130 that you see on the very right of the Schedule of Expected Cash Collections in a sentence?
How do I describe $120,120 on the far right of the Schedule of Expected Cash Collections, whether it is for Year or Month?
If it Year was Quarter, would it correct of me to describe $120,120 as the total cash collected for the Quarter? Since it says "Year", I would describe $120,120 as $120,120 is the total cash collected for the Year, correct?
How do I describe $146,214 that you see at the very bottom of the Schedule of Expected Cash Collections, whether it represents Quart 1 or Month 1?
Would it be correct of me to describe $146,214 as $146,214 is the total cash collection for February or Quarter 1 generated from a combination of accounts receivable and net sales revenue (credit sales) in cash? My using the word "cash" in the previous sentence is correct in your opinion?
How do I describe $515,463 in a sentence?
Format and Example The master budget of Company A continues here with the preparation of schedule of expected cash collections. The sales figures are obtained from the sales budget of the company. 70% of sales are expected to be collected in the quarter in which sales are made and the rest are expected to be collected in the next period. Bad debts are negligible. a) Q1 Sales = $120,120 Collections in Q1 = $120,120 x 70% = $84,084; Collections in Q2 = $120,120 x 30% = $36,036 b) Q2 Sales = $87,768 Collections in Q3 = $87,768 x 30% = Collections in Q2 = $87,768 x 70% = $61,438; $26,330 c) Q3 Sales = $106,991 Collections in Q3 = $106,991 x 70% = $74,894; Collections in Q4 = $106,991 x 30% = $32,097 d) 24 Sales = $197,792 Collections in Q4 = $197,792 x 70% = $138,454 Company A Schedule of Expected Cash Collections For the Year Ending December 30, 2010 Quarter 3 2 4 Year 1 $62,130 84,084 $62,130 120,120 $36,036 61,438 Beginning AR Quarter 1 Sales (a) Quarter 2 Sales (b) Quarter 3 Sales (c) Quarter 4 Sales (d) Total Collections $26,330 74,894 $32,097 138,454 $170,551 87,768 106,991 138,454 $515,463 $146,214 $97,474 $101,224Step by Step Solution
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