56) The total cash collections in July will be

A) $140,000.

B) $126,000.

C) $80,000.

D) $66,000.

57) The total cash collections in August will be

A) $180,000.

B) $100,000.

C) $165,000.

D) $ 85,000.

58) The total cash received in June on June sales will be

A) $ 70,000.

B) $100,000.

C) $ 86,000.

D) $ 46,000.

59) The total cash received in May on May sales will be

A) $60,000.

B) $90,000.

C) $40,000.

D) none of the above.

The following sales budget has been prepared:

Month

Cash Sales

Credit Sales

September

$200,000

$ 400,000

October

250,000

360,000

November

260,000

420,000

December

270,000

380,000

Collections are 50 percent in the month of sale, 40 percent in the month following the sale, and 10 percent two months following the sale. No uncollectible accounts are anticipated.

60) The total cash collections in December will be

A) $650,000.

B) $394,000.

C) $270,000.

D) $664,000.

61) The total cash collections in November will be

A) $394,000.

B) $654,000.

C) $680,000.

D) $260,000.

62) The total cash received in October on October sales will be

A) $430,000.

B) $250,000.

C) $590,000.

D) none of the above.

63) The total cash received in September on September sales will be

A) $200,000.

B) $600,000.

C) $544,000.

D) $400,000.

Crossley, Inc. has the following information:

Month

Budgeted Purchases

January

$134,000

February

145,000

March

152,600

April

147,400

May

138,400

Purchases are paid for in the following manner:

10 percent in the month of purchase

50 percent in the month after purchase

40 percent two months after purchase

64) The cash disbursements in March for January purchases will be

A) $53,600.

B) $67,000.

C) $15,260.

D) $61,040.

65) The cash disbursements in May for April purchases will be

A) $58,960.

B) $73,700.

C) $55,360.

D



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