Question: Four answer is partially correct. Bramble Landscaping Inc. is preparing its budget for the first quarter of 2 0 2 5 . The next step

Four answer is partially correct.
Bramble Landscaping Inc. is preparing its budget for the first quarter of 2025. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end, the following information has been collected.
Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service.
Actual service revenue for 2024 and expected service revenues for 2025 are November 2024, $97,600; December 2024, $109,800; January 2025, $122,000; February 2025, $146,400; and March 2025, $170,800.
Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2024 and expected purchases for 2025 are December 2024, $17,080; January 2025, $14,640; February 2025, $18,300; and March 2025, $21,960.
(a)
Prepare the following schedules for each month in the first quarter of 2025 and for the quarter in total:
(1) Expected collections from clients.
BRAMBLE LANDSCAPING INC.
Schedule of Expected Collections From Clients
For the Quarter Ending March 31,2025
January
February
March
Quarter
November
December
January
$ $ $ $
(a)
Prepare the following schedules for each month in the first quarter of 2025 and for the quarter in total:
(1) Expected collections from clients.
(1) Expected collections from clients.
BRAMBLE LANDSCAPING INC.
Schedule of Expected Collections From Clients
For the Quarter Ending March 31,2025How to solve
\table[[,January,,February,,March,,Quarter],[November,$,$,,$,,$,],[December,,,,,,,],[January,,,,,,,],[February,,,,,,,],[March,,,,,,,],[Total collections,$,$,,$,,$,]]
Bramble Landscaping Inc. is preparing its budget for the first quarter of 2025. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end, the following information has been collected.
Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service.
Actual service revenue for 2024 and expected service revenues for 2025 are November 2024, $97,600; December 2024, $109,800; January 2025, $122,000; February 2025, $146,400; and March 2025, $170,800.
Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2024 and expected purchases for 2025 are December 2024, $17,080; January 2025, $14,640; February 2025, $18,300; and March 2025, $21,960.
(a)
Prepare the following schedules for each month in the first quarter of 2025 and for the quarter in total:
(1) Expected collections from clients.
(2) Expected payments for landscaping supplies.
Four answer is partially correct. Bramble

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!