Question

In: Accounting

Adelphi Company has budgeted activity for March to reflect net income $165,000. All sales are credit...

Adelphi Company has budgeted activity for March to reflect net income $165,000. All sales are credit sales. Receivables are planned to increase (decrease -) by $27,000 payables to increase (decrease -) by $-17,000 and Depreciation Expense is $56,000. Use this information to determine how much cash will increase (decrease) during the month of March. (Decreases in accounts receivable or accounts payable will have a negative sign in front of number. Round & enter final answer to the nearest whole dollar.)

Solutions

Expert Solution


Related Solutions

Adelphi Company has budgeted activity for March to reflect net income $105,000. All sales are credit...
Adelphi Company has budgeted activity for March to reflect net income $105,000. All sales are credit sales. Receivables are planned to increase (decrease -) by $3,000 payables to increase (decrease -) by $13,000 and Depreciation Expense is $60,000. Use this information to determine how much cash will increase (decrease) during the month of March. (Decreases in accounts receivable or accounts payable will have a negative sign in front of number. Round & enter final answer to the nearest whole dollar.)...
The following credit sales are budgeted by Blossom Company. January 200600 February 295000 March 413000 The...
The following credit sales are budgeted by Blossom Company. January 200600 February 295000 March 413000 The company’s past experience indicates that 60% of the accounts receivable are collected in the month of sale, 40% in the month following the sale. The anticipated cash inflow for the month of March is $247800. $365800. $413000. $401200.
You've collected the following information about Oscar & Ollie Inc.: Sales = $165,000 Net Income =...
You've collected the following information about Oscar & Ollie Inc.: Sales = $165,000 Net Income = $14,800 Dividends = $9,300 Total Debt = $68,000 Total Equity = $51,000 What is the sustainable growth rate? If it does grow at this rate, how much new borrowing will take place in the coming year, assuming a constant debt–equity ratio? What growth rate could be supported with no outside financing at all?
Elements of the Income Statement for Hofstadter Experiments Ltd. follow: 2020 2019 Net Sales (all credit)...
Elements of the Income Statement for Hofstadter Experiments Ltd. follow: 2020 2019 Net Sales (all credit) $1,498,000 $1,200,000 Cost of goods sold 1,043,000 820,000 Net Income 91,000 76,500 Highlights of the Balance Sheet: 2020 2019 Cash $90,500 $64,700 Temporary Investments 75,000 60,000 Accounts receivable (net) 115,000 120,000 Inventories 264,000 283,000 Prepaid expenses 5,500 5,300 Total current liabilities 210,000 243,000 Total liabilities 310,000 443,000 Total common shareholders’ equity 829,500 787,500 Required: (Round all answers to 2 decimal places). Calculate the gross...
Elements of the Income Statement for Hofstadter Experiments Ltd. follow: 2020 2019 Net Sales (all credit)...
Elements of the Income Statement for Hofstadter Experiments Ltd. follow: 2020 2019 Net Sales (all credit) $1,498,000 $1,200,000 Cost of goods sold 1,043,000 820,000 Net Income 91,000 76,500 Highlights of the Balance Sheet: 2020 2019 Cash $90,500 $64,700 Temporary Investments 75,000 60,000 Accounts receivable (net) 115,000 120,000 Inventories 264,000 283,000 Prepaid expenses 5,500 5,300 Total current liabilities 210,000 243,000 Total liabilities 310,000 443,000 Total common shareholders’ equity 829,500 787,500 Required:   (Round all answers to 2 decimal places). Calculate the gross...
The Cambridge Company has budgeted sales revenues as follows. Jan Feb Mar__ Credit sales $45,000 $36,000...
The Cambridge Company has budgeted sales revenues as follows. Jan Feb Mar__ Credit sales $45,000 $36,000 $27,000 Cash sales 27,000 76,500 58,500 Total sales $72,000 $112,500 $85,500 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit; 40% is paid in the month of purchase and 60% in the month following purchase. Budgeted inventory purchases...
The following credit sales are budgeted by Sheridan Electronics: January $123600 February 120000 March 135600 April...
The following credit sales are budgeted by Sheridan Electronics: January $123600 February 120000 March 135600 April 141000 May 141300 The company's past experience indicates that 50% of the accounts receivable are collected in the month of sale, 30% in the month following the sale, and 19% in the second month following the sale. 1 percent are uncollectible. How much does the company anticipate as cash receipts for March? $134244 $127284 $136947 $123564
Radcliff Ltd. has budgeted the following sales for the next three months: January February March Budgeted...
Radcliff Ltd. has budgeted the following sales for the next three months: January February March Budgeted Sales $80,000 $100,000 $140,000 Ninety percent of sales are on account and ten percent of sales are cash sales. A month's sales on account are collected as follows: Month of sale 50% First month following sale 40% Second month following sale 9% Uncollectible 1% The company requires a minimum cash balance of $7,000 to start a month. The beginning cash balance in March is...
Question 4: Rodie Company has budgeted sales revenues as follows: Particulars June July August Credit Sales...
Question 4: Rodie Company has budgeted sales revenues as follows: Particulars June July August Credit Sales $135,000 $145,000 $90,000 Cash Sales $90,000 $255,000 $195,000 Total Sales $225,000 $400,000 $285,000 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit and 50% is paid in the month of purchase and 50% in the month following purchase....
Rodie Company has budgeted sales revenues as follows: Particulars June July August Credit sales $135,000 $145,000...
Rodie Company has budgeted sales revenues as follows: Particulars June July August Credit sales $135,000 $145,000 $ 90,000 Cash sales 90,000 255,000 195,000 Total sales $225,000 $400,000 $285,000 Past experience indicates that 60% of the credit sales will be collected in the month of sale and the remaining 40% will be collected in the following month. Purchases of inventory are all on credit and 50% is paid in the month of purchase and 50% in the month following purchase. Budgeted...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT