Kia showroom priced its Kia Sportage for 90,000. The showroom is expecting to sell the...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Kia showroom priced its Kia Sportage for 90,000. The showroom is expecting to sell the following number of cars for the next 3 m months: November 100 cars, December 500 cars, January 700 cars. Cash sales are normally 30% of total sales and all credit sales are expected to be collected in the month following the date of sales Expenses are expected to be as follows 100,000.00 Employees' salaries 5,000,000.00 Customs Expenses 5,000,000.00 Shipping 900,000.00 Calculate the following: 1. Total sales for each month (4 marks] 2. Expected cash for each month (4 marks 3. Cash receivable [4marks) 4. Cash receivable each month (2) 5. Total cash available at the end of each month [4] 6. Total expenses for each month [4 marks) 7. Net Income 18 marks
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
