The budget director of Heather's Florist has prepared the following sales budget. The company had $50,000...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The budget director of Heather's Florist has prepared the following sales budget. The company had $50,000 in accounts receivable on July 1. Heather's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. Required a. Complete the schedule of cash receipts by filling in the missing amounts. b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Complete the schedule of cash receipts by filling in the missing amounts. July August September Sales Budget Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Current cash sales Plus: Collections from accounts receivable Total budgeted collections $ 40,000 $42,500 $ 45,000 64,800 45,000 54,000 $ 85,000 $96,500 $ 109,800 $ 90,000 $ 87,500 $ 99,000) The budget director of Heather's Florist has prepared the following sales budget. The company had $50,000 in accounts receivable on July 1. Heather's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. Required a. Complete the schedule of cash receipts by filling in the missing amounts. b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Accounts receivable Check my work The budget director of Heather's Florist has prepared the following sales budget. The company had $50,000 in accounts receivable on July 1. Heather's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. Required a. Complete the schedule of cash receipts by filling in the missing amounts. b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Complete the schedule of cash receipts by filling in the missing amounts. July August September Sales Budget Cash sales Sales on account Total budgeted sales Schedule of Cash Receipts Current cash sales Plus: Collections from accounts receivable Total budgeted collections $ 40,000 $42,500 $ 45,000 64,800 45,000 54,000 $ 85,000 $96,500 $ 109,800 $ 90,000 $ 87,500 $ 99,000) The budget director of Heather's Florist has prepared the following sales budget. The company had $50,000 in accounts receivable on July 1. Heather's Florist normally collects 100 percent of accounts receivable in the month following the month of sale. Required a. Complete the schedule of cash receipts by filling in the missing amounts. b. Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount of accounts receivable the company will report on its third quarter pro forma balance sheet. Accounts receivable Check my work
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Find I0 in the circuit using nodal analysis. WW- Io 2kQ SkQ 10 mA 2kQ
-
Why would a firm ever offer a price on a product that is below its full cost?
-
Suppose we have market basket data consisting of 100 transactions and 20 items. If the support for item a is 25%, the support for item b is 90% and the support for itemset {a, b} is 20%. Let the...
-
Enter the data in Table 8-4 into a spreadsheet and perform the following tasks: Required a. Calculate an example of these batch totals: a hash total a financial total a record count b. For each of...
-
(i) First use the data set 401KSUBS.RAW, keeping only observations with fsize = 1. Find the skewness measure for inc. Do the same for log(mc). Which variable has more skewness and therefore seems...
-
Required information Exercise 1 0 - 1 3 ( Algo ) Effects of Changes in Sales, Expenses, and Assets on ROI [ LO 1 0 - 1 ] Skip to question [ The following information applies to the questions...
-
64. The CAPM applies to A. portfolios of securities only. B. individual securities only. C. efficient portfolios of securities only. D. efficient portfolios and efficient individual securities only....
-
lodine-131 has a half-life of 8.040 d. After 2 weeks, how much is left of a 550 g sample?
-
The Benildean Corp is company involved in developing software products for banks and financial institutions. The firm's current software project requires an initial investment of P5 million and has...
-
Do you think the medical records were actually lost, or were they intentionally lost? Explain your answer.
-
Write a program to produce the shape below on CNC lathe machine. The stock is a cylinder with a diameter of 9 0 ?mm and a length of I 4 0 ?mm . ?Use two tools, the first one for roughingjand the...
-
Watch a broadcast news show on television (ABC, CBS, or NBC) or on their Internet outlets. Do you think that what you see constitutes ethical speaking or was there clear bias in the presentation?...
-
You are provided the following information about a bond that was issued 7 years ago. The bond has a par value of $1000, has 8 years until maturity, and carries a 10% coupon with interest being paid...
-
Citing a scientific article, explain in your own words, how DNA fingerprinting has been used in forensic science to solve crimes and why it may not always be accurate or effective.
-
Using the above data, calculate the operatingcash-flow-to-current-liabilities ratio for Evans \& Sons. The following information for Evans \& Sons relates Cash flow from operating activities......
-
Evans \& Sons is converting its sales revenues to corresponding cash amounts using the direct method. Sales revenue on the income statement are \(\$ 1,025,000\). Beginning and ending accounts...
-
Using the above data, calculate the operatingcash-flow-to-capital-expenditures ratio for Evans \& Sons. The following information for Evans \& Sons relates Cash flow from operating activities......
Study smarter with the SolutionInn App