HomeworkLib
Question

Bramble Corp. reported the following information for 2016: October November December Budgeted sales $870000 $810000 $1020000...

Bramble Corp. reported the following information for 2016:

October November December
Budgeted sales $870000 $810000 $1020000
  • All sales are on credit.
  • Customer amounts on account are collected 50% in the month of sale and 50% in the following month.

How much is the November 30, 2016 budgeted Accounts Receivable?

$435000
$510000
$840000
$405000
business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Amwer Calculation of 30, 2016. Budgeted Accounts Receivable on November (soy.) moun Collection in neat $ 435000 $40,5000 w (s

0 0
Add a comment
Know the answer?
Add Answer to:
Bramble Corp. reported the following information for 2016: October November December Budgeted sales $870000 $810000 $1020000...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Bramble Corp. reported the following information for 2016: October November December Budgeted purchases $170000 $186000 $208000...

    Bramble Corp. reported the following information for 2016: October November December Budgeted purchases $170000 $186000 $208000 Operating expenses are: Salaries, $93000; Depreciation, $33000; Rent, $13000; Utilities, $21000 Operating expenses are paid during the month incurred. Accounts payable is used only for inventory acquisitions. How much is the budgeted amount of cash to be paid for operating expenses in November? A, $127,000 B. $126,500 C. $313,000 D. $160,000

  • Correy Inc. reported the following information for 2016:                                 &nbsp

    Correy Inc. reported the following information for 2016:                                         October            November          December Budgeted sales              $460,000            $440,000            $540,000 Budgeted purchases     $240,000            $256,000            $288,000 All sales are on credit. Customer amounts on account are collected 50% in the month of sale and 50% in the following month. Cost of goods sold is 35% of sales. Correy purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month. Accounts payable is used only for inventory acquisitions. How...

  • Harrti Corporation has budgeted for the following sales: July August September October November December $448,000 $583,000...

    Harrti Corporation has budgeted for the following sales: July August September October November December $448,000 $583,000 $616,500 $891,500 $ 745,000 $705,000 Sales are collected as follows: 10% in the month of sale; 60% in the month following the sale; and the remaining 30% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amoun will accounts receivable be shown?

  • Zinger Corporation has budgeted sales over the next four months below: September October November December Budgeted...

    Zinger Corporation has budgeted sales over the next four months below: September October November December Budgeted Sales... $140,000 $150,000 $170,000 $130,000 Twenty five percent of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 41% of a month's credit sales are collected in the month of sale, 32% are collected in the month following sale, and 7% are collected in the second month following sale. The remainder...

  • Budgeted sales in Washburn Company over the next four months are given below: September October November...

    Budgeted sales in Washburn Company over the next four months are given below: September October November December Budgeted sales $100,000 $160,000 $180,000 $120,000 Twenty-five percent of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's credit sales are collected in the month of sale, 30% are collected in the month following sale, and 15% are collected in the second month following sale. The...

  • Information pertaining to Yekstop Corp.'s sales revenue is presented below: November December January Cash sales $...

    Information pertaining to Yekstop Corp.'s sales revenue is presented below: November December January Cash sales $ 113,000 $ 142,000 $ 95,000 Credit sales 305,000 467,000 251,000 Total sales $ 418,000 $ 609,000 $ 346,000 Management estimates that 5% of credit sales are eventually uncollectible. Of the collectible credit sales, 60% are likely to be collected in the month of sale and the remainder in the month following the month of sale. The company desires to begin each month with an...

  • 10. The following credit sales are budgeted by Vaughn Manufacturing: January $164000 February 250000 March 380000...

    10. The following credit sales are budgeted by Vaughn Manufacturing: January $164000 February 250000 March 380000 April 280000 The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. The anticipated cash inflow for the month of April is $329120. $278800. $292000. $272000. 17. A company budgeted unit sales of 274000 units for January, 2017 and 310000...

  • Information pertaining to Yekstop Corp.'s sales revenue is presented below: November December January Cash sales $...

    Information pertaining to Yekstop Corp.'s sales revenue is presented below: November December January Cash sales $ 100,000 $ 129,000 $ 82,000 Credit sales 292,000 454,000 238,000 Total sales $ 392,000 $ 583,000 $ 320,000 Management estimates that 5% of credit sales are eventually uncollectible. Of the collectible credit sales, 65% are likely to be collected in the month of sale and the remainder in the month following the month of sale. The company desires to begin each month with an...

  • nformation pertaining to Yekstop Corp.'s sales revenue is presented below: November December January Cash sales...

    nformation pertaining to Yekstop Corp.'s sales revenue is presented below: November December January Cash sales $ 101,000 $ 130,000 $ 83,000 Credit sales 293,000 455,000 239,000 Total sales $ 394,000 $ 585,000 $ 322,000 Management estimates that 4% of credit sales are eventually uncollectible. Of the collectible credit sales, 65% are likely to be collected in the month of sale and the remainder in the month following the month of sale. The company desires to begin each month with an...

  • zz, Inc. has budgeted sales in units for the next six months as follows: Budgeted Sales...

    zz, Inc. has budgeted sales in units for the next six months as follows: Budgeted Sales in Units July 4,400 units 7,200 units August September 6,900 units October 8,600 units ????? units November December 7,900 units All sales are made on account. The selling price is $23 per unit. The sales are collected in the pattern 11% in the month of sale, 24% in the month following sale, 57% in the second month following sale, and the final 8% is...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT