Welcome to Westonci.ca, the Q&A platform where your questions are met with detailed answers from experienced experts. Discover reliable solutions to your questions from a wide network of experts on our comprehensive Q&A platform. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.
Sagot :
Let's break down the cash receipts schedule and compute the monthly receipts step by step.
### Given Data:
1. Sales Projections:
- January: \[tex]$46,000 - February: \$[/tex]45,000
- March: \[tex]$43,000 - April: \$[/tex]49,000
- May: \[tex]$38,000 - June: \$[/tex]47,000
- July: \[tex]$55,000 - August: \$[/tex]57,000
2. Collection Percentages:
- 10% uncollectible
- 35% collected in the month of sale
- 45% collected one month after sale
- 10% collected two months after sale
### Step-by-Step Calculation:
#### Collections in the Month of Sale:
- For March: [tex]\( \$43,000 \times 0.35 = \$15,050 \)[/tex]
- For April: [tex]\( \$49,000 \times 0.35 = \$17,150 \)[/tex]
- For May: [tex]\( \$38,000 \times 0.35 = \$13,300 \)[/tex]
- For June: [tex]\( \$47,000 \times 0.35 = \$16,450 \)[/tex]
- For July: [tex]\( \$55,000 \times 0.35 = \$19,250 \)[/tex]
- For August: [tex]\( \$57,000 \times 0.35 = \$19,950 \)[/tex]
#### Collections One Month After Sale:
- For February (collected in March): [tex]\( \$45,000 \times 0.45 = \$20,250 \)[/tex]
- For March (collected in April): [tex]\( \$43,000 \times 0.45 = \$19,350 \)[/tex]
- For April (collected in May): [tex]\( \$49,000 \times 0.45 = \$22,050 \)[/tex]
- For May (collected in June): [tex]\( \$38,000 \times 0.45 = \$17,100 \)[/tex]
- For June (collected in July): [tex]\( \$47,000 \times 0.45 = \$21,150 \)[/tex]
- For July (collected in August): [tex]\( \$55,000 \times 0.45 = \$24,750 \)[/tex]
#### Collections Two Months After Sale:
- For January (collected in March): [tex]\( \$46,000 \times 0.10 = \$4,600 \)[/tex]
- For February (collected in April): [tex]\( \$45,000 \times 0.10 = \$4,500 \)[/tex]
- For March (collected in May): [tex]\( \$43,000 \times 0.10 = \$4,300 \)[/tex]
#### Total Monthly Cash Receipts:
- March:
[tex]\[ \$15,050 \quad (\text{in month collection}) \][/tex]
[tex]\[ + \$20,250 \quad (\text{one month after February}) \][/tex]
[tex]\[ + \$4,600 \quad (\text{two months after January}) \][/tex]
[tex]\[ = \$39,900 \][/tex]
- April:
[tex]\[ \$17,150 \quad (\text{in month collection}) \][/tex]
[tex]\[ + \$19,350 \quad (\text{one month after March}) \][/tex]
[tex]\[ + \$4,500 \quad (\text{two months after February}) \][/tex]
[tex]\[ = \$41,000 \][/tex]
- May:
[tex]\[ \$13,300 \quad (\text{in month collection}) \][/tex]
[tex]\[ + \$22,050 \quad (\text{one month after April}) \][/tex]
[tex]\[ + \$4,300 \quad (\text{two months after March}) \][/tex]
[tex]\[ = \$39,650 \][/tex]
- June:
[tex]\[ \$16,450 \quad (\text{in month collection}) \][/tex]
[tex]\[ + \$17,100 \quad (\text{one month after May}) \][/tex]
[tex]\[ = \$33,550 \][/tex]
- July:
[tex]\[ \$19,250 \quad (\text{in month collection}) \][/tex]
[tex]\[ + \$21,150 \quad (\text{one month after June}) \][/tex]
[tex]\[ = \$40,400 \][/tex]
- August:
[tex]\[ \$19,950 \quad (\text{in month collection}) \][/tex]
[tex]\[ + \$24,750 \quad (\text{one month after July}) \][/tex]
[tex]\[ = \$44,700 \][/tex]
### Final Cash Receipts Schedule:
\begin{tabular}{|c|c|c|c|c|c|c|c|c|c|}
\hline \multicolumn{10}{|c|}{ Watt's Lighting Stores } \\
\hline \multicolumn{10}{|c|}{ Cash Receipts Schedule } \\
\hline & January & February & March & April & May & June & July & August & Total \\
\hline \multicolumn{10}{|l|}{ Credit sales } \\
\hline \multicolumn{10}{|l|}{ Collections: } \\
\hline In month of sale & & & \[tex]$15,050 & \$[/tex]17,150 & \[tex]$13,300 & \$[/tex]16,450 & \[tex]$19,250 & \$[/tex]19,950 & \[tex]$168,300 \\ \hline One month after sale & & & \$[/tex]20,250 & \[tex]$19,350 & \$[/tex]22,050 & \[tex]$17,100 & \$[/tex]21,150 & \[tex]$24,750 & \$[/tex]124,700 \\
\hline Two months after sale & & & \[tex]$4,600 & \$[/tex]4,500 & \[tex]$4,300 & & & & \$[/tex]13,400 \\
\hline Total cash receipts & & & \[tex]$39,900 & \$[/tex]41,000 & \[tex]$39,650 & \$[/tex]33,550 & \[tex]$40,400 & \$[/tex]44,700 & \$239,200 \\
\hline
\end{tabular}
### Given Data:
1. Sales Projections:
- January: \[tex]$46,000 - February: \$[/tex]45,000
- March: \[tex]$43,000 - April: \$[/tex]49,000
- May: \[tex]$38,000 - June: \$[/tex]47,000
- July: \[tex]$55,000 - August: \$[/tex]57,000
2. Collection Percentages:
- 10% uncollectible
- 35% collected in the month of sale
- 45% collected one month after sale
- 10% collected two months after sale
### Step-by-Step Calculation:
#### Collections in the Month of Sale:
- For March: [tex]\( \$43,000 \times 0.35 = \$15,050 \)[/tex]
- For April: [tex]\( \$49,000 \times 0.35 = \$17,150 \)[/tex]
- For May: [tex]\( \$38,000 \times 0.35 = \$13,300 \)[/tex]
- For June: [tex]\( \$47,000 \times 0.35 = \$16,450 \)[/tex]
- For July: [tex]\( \$55,000 \times 0.35 = \$19,250 \)[/tex]
- For August: [tex]\( \$57,000 \times 0.35 = \$19,950 \)[/tex]
#### Collections One Month After Sale:
- For February (collected in March): [tex]\( \$45,000 \times 0.45 = \$20,250 \)[/tex]
- For March (collected in April): [tex]\( \$43,000 \times 0.45 = \$19,350 \)[/tex]
- For April (collected in May): [tex]\( \$49,000 \times 0.45 = \$22,050 \)[/tex]
- For May (collected in June): [tex]\( \$38,000 \times 0.45 = \$17,100 \)[/tex]
- For June (collected in July): [tex]\( \$47,000 \times 0.45 = \$21,150 \)[/tex]
- For July (collected in August): [tex]\( \$55,000 \times 0.45 = \$24,750 \)[/tex]
#### Collections Two Months After Sale:
- For January (collected in March): [tex]\( \$46,000 \times 0.10 = \$4,600 \)[/tex]
- For February (collected in April): [tex]\( \$45,000 \times 0.10 = \$4,500 \)[/tex]
- For March (collected in May): [tex]\( \$43,000 \times 0.10 = \$4,300 \)[/tex]
#### Total Monthly Cash Receipts:
- March:
[tex]\[ \$15,050 \quad (\text{in month collection}) \][/tex]
[tex]\[ + \$20,250 \quad (\text{one month after February}) \][/tex]
[tex]\[ + \$4,600 \quad (\text{two months after January}) \][/tex]
[tex]\[ = \$39,900 \][/tex]
- April:
[tex]\[ \$17,150 \quad (\text{in month collection}) \][/tex]
[tex]\[ + \$19,350 \quad (\text{one month after March}) \][/tex]
[tex]\[ + \$4,500 \quad (\text{two months after February}) \][/tex]
[tex]\[ = \$41,000 \][/tex]
- May:
[tex]\[ \$13,300 \quad (\text{in month collection}) \][/tex]
[tex]\[ + \$22,050 \quad (\text{one month after April}) \][/tex]
[tex]\[ + \$4,300 \quad (\text{two months after March}) \][/tex]
[tex]\[ = \$39,650 \][/tex]
- June:
[tex]\[ \$16,450 \quad (\text{in month collection}) \][/tex]
[tex]\[ + \$17,100 \quad (\text{one month after May}) \][/tex]
[tex]\[ = \$33,550 \][/tex]
- July:
[tex]\[ \$19,250 \quad (\text{in month collection}) \][/tex]
[tex]\[ + \$21,150 \quad (\text{one month after June}) \][/tex]
[tex]\[ = \$40,400 \][/tex]
- August:
[tex]\[ \$19,950 \quad (\text{in month collection}) \][/tex]
[tex]\[ + \$24,750 \quad (\text{one month after July}) \][/tex]
[tex]\[ = \$44,700 \][/tex]
### Final Cash Receipts Schedule:
\begin{tabular}{|c|c|c|c|c|c|c|c|c|c|}
\hline \multicolumn{10}{|c|}{ Watt's Lighting Stores } \\
\hline \multicolumn{10}{|c|}{ Cash Receipts Schedule } \\
\hline & January & February & March & April & May & June & July & August & Total \\
\hline \multicolumn{10}{|l|}{ Credit sales } \\
\hline \multicolumn{10}{|l|}{ Collections: } \\
\hline In month of sale & & & \[tex]$15,050 & \$[/tex]17,150 & \[tex]$13,300 & \$[/tex]16,450 & \[tex]$19,250 & \$[/tex]19,950 & \[tex]$168,300 \\ \hline One month after sale & & & \$[/tex]20,250 & \[tex]$19,350 & \$[/tex]22,050 & \[tex]$17,100 & \$[/tex]21,150 & \[tex]$24,750 & \$[/tex]124,700 \\
\hline Two months after sale & & & \[tex]$4,600 & \$[/tex]4,500 & \[tex]$4,300 & & & & \$[/tex]13,400 \\
\hline Total cash receipts & & & \[tex]$39,900 & \$[/tex]41,000 & \[tex]$39,650 & \$[/tex]33,550 & \[tex]$40,400 & \$[/tex]44,700 & \$239,200 \\
\hline
\end{tabular}
Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.