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Mock Examz MCQ's

This topic has 1 reply, 2 voices, and was last updated 9 years ago by John Moffat.

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August 26, 2015 at 3:43 pm #268629
Mujtaba
Member
- Topics: 13
- Replies: 10
XYZ co has forcast sales in january 07 $200000 and that they will increase by 5% each month.
An sales on credit,and 60% of customers pay after 1 month,the rest pay after 2 months.
what cash receipt from customers will be budgeted for in May?
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August 27, 2015 at 8:09 am #268730
John Moffat
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- Topics: 57
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Sales in Jan are 200,000
Sales in Feb are 200,000 x 1.05 = 210,000
Sales in Mar are 210,000 x 1.05 = 220,500
Sales in Apr are 220,500 x 1.05 = 231,525
Receipts in May are 60% of April sales plus 40% of March sales
(60% x 231,525) + (40% x 220,500) = 227,115
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