Niedringhaus Corporations sales revenue follows: Niedringhauss management estimates that 65 percent of credit sales will be collected
Question:
Niedringhaus Corporation’s sales revenue follows:
Niedringhaus’s management estimates that 65 percent of credit sales will be collected in the month of sale with a 2% discount taken, and that 34 percent will be collected in the month following sale. What are the expected cash collections for December and January?
Transcribed Image Text:
Cash sales Credit sales November (Actual Sales) $ 80,000 340,000 Decenber (Projected Sales) $100,000 460,000 January (Projected Sales) $ 60,000 380,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
Beginning balance of accounts receivable 400000 Add estimate...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Introduction to Accounting An Integrated Approach
ISBN: 978-0078136603
6th edition
Authors: Penne Ainsworth, Dan Deines
Question Posted:
Students also viewed these Management Leadership questions
-
Choose an A matrix (with all non-zero elements) with n = 2 states and rank(A) = 2. (a) [+1, 5 min] Find a B matrix such that the system is controllable. (b) [+1, 5 min] Find a suitable Q and R matrix...
-
What are the total expected cash collections for the year under this revised budget? What is the total required production for the year under this revised budget? Data Budgeted unit sales Selling...
-
Suppose that 65 percent of a discount chains employees are women and 33 percent of the discount chains employees having a management position are women. If 25 percent of the discount chains employees...
-
How often is the lifecycle sustainment plant updated? A. Before in initial operation, test and evaluation. B. At each milestone decision. C. Prior to each major change to the product of strategy. D....
-
Perhaps fans are just more interested in teams that win. The displays below are based on American League teams for the 2013 season, (espn.go.com) (Use the data set Attendance_2013). a) Do winning...
-
Management of Mittel Company wants to reduce the elapsed time from when a customer places an order to when it is shipped. It provided the following data for a recent quarter: Inspection time Wait...
-
As shown in Fig. P8.28, the velocity profile for laminar flow in a pipe is quite different from that for turbulent flow. With laminar flow the velocity profile is parabolic; with turbulent flow at...
-
Vigeland Company completed the following transactions during 2014. The annual accounting period ends December 31, 2014. Jan. 15 Purchased and paid for merchandise for resale at an invoice cost of...
-
A company purchased a van at the beginning of the year with a cost of $50,500. The useful life is estimated to be 10 years with a $5,000 salvage value and the company uses the straight-line method of...
-
Knowing that the tension in wire BD is 1300 N, determine the reaction at the fixed support C of the frame shown. 750 N 150 mm 250 mm 500 mili- 450 N 600 mm 400 mm
-
OConnell sells two products: Dynamo and Craylon. It estimates that two Craylons are sold each period for every Dynamo sold. A Dynamo sells for $ 7.50 and a Craylon sells for $ 5. OConnell estimates...
-
Soderlund Company has a balance in its accounts receivable of $ 35,000 at the beginning of the year. Credit sales for the year are expected to be $ 675,000. It is estimated that Soderlund will...
-
How can you enhance your face-to-face conversations in the workplace and improve your image as a professional?
-
An air ambulance is travelling from Barrie to Toronto. Toronto is located 90 km [S5degreesE] of Barrie. If the wind is blowing from the south with a velocity of 35k/h, and the planes air speed is...
-
A windmill has blades that are 14 feet long. If the windmill is rotating at 5 revolutions per second, find the linear speed of the tips of the blades in miles per hour.
-
For a residential zoning category, at least 12,000 square feet per batch. The developer has set aside 25% of the land for streets, sidewalks and a community center. He tract of land for development...
-
Using the TI - 8 4 calculator, find the area under the standard normal curve that lies between the following z values. Round the answers to four decimal places. ( a ) Find the area under the standard...
-
In 2022, Hawkeye Games Inc. has $50K revenue and $35K expenses. It has also issued $5K dividends to its shareholders in year 2022. The retained earnings in the end of 2022 is $20K. What is the...
-
What examples can be generated from group reflections on experiences in the workplace, or from stories youve heard told by friends and relatives of what managers do? Use these personal experiences...
-
Using the theoretical sampling strategy, how many samples of size 4 (n = 4) can be drawn from a population of size: (a) N = 5? (b) N = 8? (c) N = 16? (d) N = 50?
-
The project information for the custom order project of the Air Control Company is presented here. Draw a project network for this project. Calculate the early and late activity times and the slack...
-
Tayson Company currently has $1,000,000 owners equity and no long term debt. Its expected income for 2019 is $120,000 and it is subject to a 20 percent tax rate. What is Taysons planned return on...
-
The Of Interest box in this chapter discussed several hybrid types of business organizational forms. Assume that you have started a business but are now looking for additional sources of financing....
-
Rickhaus Company is authorized to issue 10 million shares of $1 par value common stock and 800,000 shares of $10 par value 7 percent cumulative, convertible, preferred stock. For simplicity, assume...
-
Whatare basis of the segmentation? How would you improve on this strategy in marketing ? What are the basis of the segmentation? How would you improve on this strategy?
-
Jimmy has a bond with a $1,000 face value and a coupon rate of 9.5% paid semiannually. It has a five-year life. a) If investors are willing to accept a 14 percent rate of return on bonds of similar...
-
A zero-coupon bond that will pay $1,050 in 12 years is selling today for $441.91. What interest rate does the bond offer?
Study smarter with the SolutionInn App