Entries by mary WAMBUGU

Aco began operations on January 1 with cash of $70,000. All of January’s $140,000 sales were on account.

August 22, 2019 in /by

GivenAco began operations on January 1 with cash of $70,000. All of January’s $140,000 sales were on account. During January no customer collections occurred. Costs of goods sold was $30,000, and there was no ending inventories or any accounts payables. Determine ending balance of cash on hand for January   Looking for a Similar Assignment? […]

 

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Aco budgeted activity for October to reflect net income $110,000. All sales are credit sales. Receivables are planned to increase by $30,000, payables to decrease by $20,000 and depreciation expense is $50,000.

August 22, 2019 in /by

GivenAco budgeted activity for October to reflect net income $110,000. All sales are credit sales. Receivables are planned to increase by $30,000, payables to decrease by $20,000 and depreciation expense is $50,000. Determine how much cash will increase or decrease during the month of October   Looking for a Similar Assignment? Order now and Get […]

 

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ACO began operations on January 1. All sales are on credit. Aco has sales budgeted as $160,000 for February

August 22, 2019 in /by

GivenACO began operations on January 1. All sales are on credit. Aco has sales budgeted as $160,000 for February. Receivables at January 31 were $20,000. Accounts Receivable collections are expected to be 50% in the month of sale, 20% the next month, and 10% in the next. Determine   Looking for a Similar Assignment? Order […]

 

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Aco is preparing its cash budget for the month of May. Aco estimated credit sales for May at $150,000.

August 22, 2019 in /by

GivenAco is preparing its cash budget for the month of May. Aco estimated credit sales for May at $150,000. Actual credit sales for April were $120,000. Estimated collections in May for credit sales in May are 15%. Estimated collections in May for credit sales in April are 60%. Estimated collections in May for credit sales […]

 

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