Shake Shacks Vegan Burgers reports the following information from its sales budget: Expected Sales: May $133,000 June

Fantastic news! We've Found the answer you've been seeking!

Question:

Shake Shack’s Vegan Burgers reports the following information from its sales budget:

Expected Sales:

May $133,000

June 120,000

July 155,000

All sales are on credit and cash receipts are expected to be collected 40% in the month of sale and 60% in the month following sale. The total amount of cash expected to be recieved from customers in June is:

(Please show work!)

Related Book For answer-question

Accounting For Cambridge International AS And A Level

ISBN: 9780198399711

1st Edition

Authors: Jacqueline Halls Bryan, Peter Hailstone

See More Books

Posted Date: Mar 09, 2024 12:53 AM

See More Questions

Cash sales are normally 25% of total sales and all credit sales are expected to be collected in the month following the date of sale. Calculate the total amount of cash expected to be received from...
A 0.1-meter diameter steel sphere is heated to a temperature of 700C, then immersed in water at atmospheric pressure. Find the heat flux at the instant the sphere is dropped into the water....
6. A 16.00 m Three roller-coaster carts with a combined mass of 1250 kg have a speed of 15.0 m/s nearing position D. Ground B 8.50 m C D 2.50 m ODLB As the carts approach position D they are stopped...
Administrative agencies, boards or commissions usually use registration or licensing to control business subject to the administrative law. True False
The City of Thomasville established an internal service fund to provide printing services to all city offices and departments. The following transactions related to the fund took place in 2016: 1. On...
Shelby Organics produces bottled orange juice. Orange juice concentrate is typically bought and sold by the pound, and Shelby uses 50,000 pounds of orange juice concentrate each month. On December 1,...
An asset has the estimated salvage values for various lives, shown in the table below. For each possible life from 1 to 6 by 1, determine the capital recovery cost for MARR of 8 percent/year. EOY NCF...
The following information pertains to Flaxman Manufacturing Company for March 2015. Assume actual overhead equaled applied overhead. March 1 Inventory balances Raw materials .......... $100,000 Work...
8. *A 2-kg block of copper is heated to 400 C and dropped into an insulated bucket that contains a mixture of ice and water at 0 C. The final temperature of the copper is 0 C. How much ice melted in...
Draw the yearly budget constraint between leisure and income for a worker that can earn $40/hr. Assume there are 365 days available each year, and each day has up to 16 hours available for work or...
Stock Y has a beta of 1.55 and an expected return of 15.1%. Stock Z has a beta of .90 and an expected return of 11.2%. If the risk-free rate is 4.65% and the market risk premium is 7.15%, are these...
On January 1, 2023, DDD Corporation purchased as a long-term investment P4,000,000 face amount, 12% bonds of EEE Corporation for P4,600,000 plus direct transaction cost of P48,872 to yield 8% per...
A Collateralized Mortgage Obligation (CMO) principal balance is $1,000,000,000. The pass-thru rate is 5.35%. The Weighted Average Coupon rate is 6.35%. The weighted Average Months is 350. The PSA is...
What would be the interest rate on a 10-year Treasury note, given the following information? kpr = 1% MR = 0.1% for a 1-year loan, increasing by 0.1% each additional year. LR = 0.5% for a security...
Afirmhas a prtijected EBIT of $20.000 for anew project The funds needed for the project are s40,000. firm can finance the project completely with debt at a pire-tax interest cost of 10x Alternatively...
UL SYSTEMS I Section1 Lecture (20193_11091. ashboard / My courses / CONTROL SYSTEMS I Section1 Lecture (20193 110913240 AAUP - JENIN) / 18 July - 24 July Question 3 For the following function, the...
Pearl Medavoy will invest $10,240 a year for 20 years in a fund that will earn 10% annual interest. . If the first payment into the fund occurs today, what amount will be in the fund in 20 years? If...
What are the differences in the role of the bookkeeper and the accountant?
Which of these transactions should be entered in the general journal? A. Correction of error in recording purchases returns B. Owners cash drawings C. Purchase of new equipment by cheque D. Returns...
Rex Limited manufactures plastic storage boxes. The directors are considering buying a new, more efficient moulding machine to replace the existing machine. The new machine will increase output by 25...
Name and briefly explain the three key components of a modern financial system.
What are non-banking financial intermediaries? List the different types and briefly explain their role in connecting savers with borrowers in the financial system.
Briefly explain the process of asset securitization in the financial system.

Shake Shacks Vegan Burgers reports the following information from its sales budget: Expected Sales: May $133,000 June

Question:

Expert Answer:

Certainly lets break down the expected cash receipts for Shake Shac... View the full answer

Accounting For Cambridge International AS And A Level

Students also viewed these accounting questions