York Industries has planned for the following purchases in the next five months. Budgeted Purchases $42,500...
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York Industries has planned for the following purchases in the next five months. Budgeted Purchases $42,500 $38,500 $39,600 $52,800 $66,700 Month June July August September October This is the established pattern for payment purchases: 15% in the month of purchase, 65% in the following month, and 20% two months after purchase. York Industries also has the following planned sales over the next five months: 一 Budgeted Sales $88,500 $98,500 $99,300 $82,800 $106,800 Month June July August September October 20% of sales are cash and 80% of sales are credit. Cash sales are collected in the same month as sales and credit sales are collected with the following pattern; 35% in the month of sale, 50% in the month after sale, and 15% two months after sale. Operating expenses for each month is $13,000. Assume these expenses are paid for in cash at the end of each month. Required: What is the net cash flow for August and September? York Industries has planned for the following purchases in the next five months. Budgeted Purchases $42,500 $38,500 $39,600 $52,800 $66,700 Month June July August September October This is the established pattern for payment purchases: 15% in the month of purchase, 65% in the following month, and 20% two months after purchase. York Industries also has the following planned sales over the next five months: 一 Budgeted Sales $88,500 $98,500 $99,300 $82,800 $106,800 Month June July August September October 20% of sales are cash and 80% of sales are credit. Cash sales are collected in the same month as sales and credit sales are collected with the following pattern; 35% in the month of sale, 50% in the month after sale, and 15% two months after sale. Operating expenses for each month is $13,000. Assume these expenses are paid for in cash at the end of each month. Required: What is the net cash flow for August and September?
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wcollection from Salen Particulara June E Julyl Augusr 4 Seprember october Budgeted Sale... View the full answer
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
Posted Date:
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