Sisquoc Widget Company Cash Collections Budget 2010 Sales Nov 2010 21,500 Mar 20

Question

Sisquoc Widget Company Cash Collections Budget 2010 Sales Nov 2010 21,500 Mar 2011 45,000 Dec 2010 22,500 Apr 2011 22,500 Jan 2011 11,250 Feb 2011 2011 Sales 33,750 10% Cash Sales 9096 Credit Sales Credit Sales Collections 75% in Next Month after sale 25% in 2nd Month after sale Required: Complete the following table. 2011 Cash Receipts Source of Cash Jan 2011 Feb 2011 Mar 2011 Apr 2011 Current Cash Sales 1 Month Prior 2 Months Prior 1,125 16,875 5,375 23,375 3,375 8,438 5,625 17,438 4,500 25,313 2,813 32,625 2,250 33,750 8,438 44,438 Total Cash Receipts 117,875

Explanation / Answer

Note: Please note that Table already completed in the question itself and amounts are matching with given infomation.

I have filled the table again with calculation for your reference.

2011 cah receipts          

Source of Cash                                  Jan 11                    Feb 11                Mar 11                     Apr 11

Current cash sales(10%)             11,250*.1=1,125       33,750*.1=3,375      45,000*.1=4,500     22,500*.1=2,250

75% of previous month           22,500*.75=16,875     11,250*.75=8,438   33,750*.75=25,313 45,000*.75=33,750

25% of Sales 2 months Prior    21500*.25=5,375      22,500*.25=5,625   11,250*.25=2,813   33,750*.25=8,438

_________________________________________________________________________________________

Total cash Receipts                                23,375                        17,438                      32,625                     44,438

Total Cash receipts for Jan-Apr     23,375+17,438+32,625+44,438=117,875

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