Cash Receipts Budget and Accounts Receivable Aging Schedule

Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted the following sales:

In Shalimar’s experience, 10 percent of sales are paid in cash. Of the sales on account, 65 percent are collected in the quarter of sale, 25 percent are collected in the quarter following the sale, and 7 percent are collected in the second quarter after the sale. The remaining 3 percent are never collected. Total sales for the third quarter of the current year are $5,240,000 and for the fourth quarter of the current year are $7,670,000.

Required:

1. Calculate cash sales and credit sales expected in the last two quarters of the current year, and in each quarter of next year.

2. Construct a cash receipts budget for Shalimar Company for each quarter of the next year, showing the cash sales and the cash collections from credit sales. If an amount is zero, enter "0".

3. What if the recession led Shalimar’s top management to assume that in the next year 10 percent of credit sales would never be collected? The expected payment percentages in the quarter of sale and the quarter after sale are assumed to be the same. How would that affect cash received in each quarter? Construct a revised cash budget using the new assumption.

Cash Receipts Budget and Accounts Receivable Aging Schedule

Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted the following sales:

In Shalimar’s experience, 10 percent of sales are paid in cash. Of the sales on account, 65 percent are collected in the quarter of sale, 25 percent are collected in the quarter following the sale, and 7 percent are collected in the second quarter after the sale. The remaining 3 percent are never collected. Total sales for the third quarter of the current year are $5,220,000 and for the fourth quarter of the current year are $7,530,000.

Required:

1. Calculate cash sales and credit sales expected in the last two quarters of the current year, and in each quarter of next year.

2. Construct a cash receipts budget for Shalimar Company for each quarter of the next year, showing the cash sales and the cash collections from credit sales. If an amount is zero, enter "0".

3. What if the recession led Shalimar’s top management to assume that in the next year 10 percent of credit sales would never be collected? The expected payment percentages in the quarter of sale and the quarter after sale are assumed to be the same. How would that affect cash received in each quarter? Construct a revised cash budget using the new assumption.

Suppose a random variable X is normally distributed with mean 65.3 and standard deviation 9.4. Answer the following questions:

1. P(47.44 < X < 76.58) = [round to 4 decimal places]

2. P(X ≤ 46.50) = [round to 4 decimal places]

3. P(X = 76.58) = [round to 4 decimal places]

4. Suppose a is such that: P(X ≤ a) = 0.39. Then a = [round to 2 decimal places]

5. What is the IQR (inter-quartle range) of X? [round to 2 decimal places]

Suppose a random variable X is normally distributed with mean 65 and standard deviation 7. Answer the following questions:

1. P(48.90 < X < 70.60) = ____ [round to 4 decimal places]

2. P(X ≤ 65.70) = _____ [round to 4 decimal places]

3. P(X = 70.60) = ____ [round to 4 decimal places]

4.Suppose a is such that: P(X ≤ a) = 0.46. Then a = ____ [round to 2 decimal places]

5. What is the IQR (inter-quartle range) of X? _____ [round to 2 decimal places]

Answer in JAVA

Write a program that would prompt the user to enter an integer. The program then would displays a table of squares and cubes from 1 to the value entered by the user. The program should prompt the user to continue if they wish. Name your class NumberPowers.java, add header and sample output as block comments and uploaded it to this link.

Use these formulas for calculating squares and cubes are:

• square = x * x
• cube = x * x * x

Assume that the user will enter a valid integer.

The application should continue only if the user enters “y” or “Y” to continue.

Sample Output

Welcome to the Squares and Cubes table

Enter an integer: 4

Number Squared Cubed
====== ======= =====
1 1 1
2 4 8
3 9 27
4 16 64

Continue? (y/n): y

Enter an integer: 7

Number Squared Cubed
====== ======= =====
1 1 1
2 4 8
3 9 27
4 16 64
5 25 125
6 36 216
7 49 343

Continue? (y/n): n

These data are observations collected using a completely randomized design.

(a) Calculate CM and Total SS. (Round your answer for CM to six decimal places and your Total SS to four decimal places.

(b) Calculate SST and MST. (Round your answers to four decimal places.)

(c) Calculate SSE and MSE. (Round your answers to four decimal places.)

(d) Construct an ANOVA table for the data. (Round your answer for F to two decimal places. Round your answers for SS and MS to four decimal places.)

Eric Wood, CPA, was organized on January 1 as a proprietorship. The financial statements for Eric Wood, CPA are shown below for three months ended March 31.

a)

b)

1) There are many versions of MPEG. Mention those including their applications.

2) What is the difference between MPEG 2 and MPEG 4 and which one is better?

3) What do you about digital video broadcasting (DVB)?

4) Describe the data transmission using MPEG-2 and DVB.

Please answer all of the questions

A consumer wanted to find out how accurate Siri (an Apple digital assistant) is, so he asked questions on general facts and recorded how many Siri got right. Out of the 299 questions, he asked Siri, Siri responded correctly to 132 of them. What is the estimate of the population proportion? What is the standard error of this estimate?

Question 1 options:

Question 2 (1 point)

Historically, 72.98% of packages delivered by UPS are on time. Suppose 151 deliveries are randomly selected for quality control. What is the probability that less than 74.48% of the deliveries were on time?

Question 2 options:

Question 3 (1 point)

Fill in the blank. In a drive thru performance study, the average service time for McDonald's is 186.69 seconds with a standard deviation of 6.26 seconds. A random sample of 82 times is taken. There is a 43% chance that the average drive-thru service time is greater than ________ seconds.

Question 3 options:

Question 4 (1 point)

Experimenters injected a growth hormone gene into thousands of carp eggs. Of the 234 carp that grew from these eggs, 34 incorporated the gene into their DNA (Science News, May 20, 1989). With a confidence of 90%, what is the margin of error for the proportion of all carp that would incorporate the gene into their DNA?

Question 4 options:

Research suggests that people who can switch off from work (Detachment) during off-hours are more satisfied with life and have fewer symptoms of psychological strain. Factors at work can affect your ability to detach when away from work. For example, a study looked at 1709 Swiss and German employees measured job stress in terms of time pressure (Time_Pressure) at work (no time pressure, low, medium, high and very high time pressure). Carry out a chi-square test to see if time pressure is associated with the ability to detach from work. Test the researcher’s hypothesis that there is an association between “Detachment” and “Time Pressure” following the four steps of hypothesis testing.