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Alpha Company began operations on January 1 with cash of $75,000. All of January’s $150,000 sales were on account.

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Alpha

Company began operations on January 1 with cash of $75,000. All of January’s $150,000 sales were on account. During January no customer collections occurred. Cost of goods sold was $45,000, and there was no ending inventories or any accounts payable. Use this information to determine the ending balance of cash on hand for January. (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units

 
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Alpha Company has budgeted activity for October to reflect net income $120,000. All sales are credit sales.

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Alpha Company has budgeted activity for

October to reflect net income $120,000. All sales are credit sales. Receivables are planned to increase by $35,000, payables to decrease by $25,000 and Depreciation Expense is $55,000. Use this information to determine how much cash will increase (decrease) during the month of October. (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)

 
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Alpha Company began operations on January 1. All sales are on credit. Alpha has sales budgeted as $170,000 for February. Receivables at January 31 were $25,000.

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Alpha Company began operations on January 1.

All sales are on credit. Alpha has sales budgeted as $170,000 for February. Receivables at January 31 were $25,000. Accounts Receivable collections are expected to be 60% in the month of sale, 30% the next month, and 10% in the next. Use this information to determine the dollar value of: (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)

            1. January Sales

            2. January Cash Collections from Customers

            3. February Expected Cash Collections from Customers

 
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Alpha Company is preparing its cash budget for the month of May. The company estimated credit sales for May at $200,000. Actual credit sales for April were $150,000.

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Alpha Company

is preparing its cash budget for the month of May.  The company estimated credit sales for May at $200,000. Actual credit sales for April were $150,000. Estimated collections in May for credit sales in May are 20%.   Estimated collections in May for credit sales in April are 70%.  Estimated Collections in May for credit sales prior to April are $12,000.  Estimated write-offs in May for uncollectible credit sales are $8,000.  Estimated provision for bad debts in May for credit sales in May are $7,000.  What are the estimated cash receipts from accounts receivable collections in May?

 
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