Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the following data pertains to louetta mfg., which

The following data pertains to Louetta Mfg., which was founded on January 1st. ...

80.2K

Verified Solution

Question

Accounting

The following data pertains to Louetta Mfg., which was founded on January 1st.

Sales (all credit) Purchases (all credit)

Jan $240,000 $180,000

Feb 220,000 160,000

Mar 210,000 150,000

Apr 190,000 160,000

May 230,000 170,000

Louetta pays for purchases over two months: 20% in the month of purchase and the remainder in the following month. Louetta expects to collect on sales over three months: 20% in the month of sale, 25% in the 1st month following, and the remainder in the 2nd month following. At the beginning of January, Louetta has a cash balance of $160,000. What cash balance does Louetta expect to have at the end of March? There are no beginning balances.

ANSWER: ___________________

From

Jan

Feb

March

Jan

Feb

March

From

Jan

Feb

March

Jan

Feb

March

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!
Become a Member

Other questions asked by students

Q

ATTENTION: I PAY EVERY MONTH TO BE ABLE TO POST QUESTIONS HERE. tHEREFORE I EXPECT COMPLETE...

Accounting
Q

Explain how to assess the benefits of using geosynthetics in road pavement.

Civil Engineering
Q

Halcyon Lines is considering the purchase of a new bulk carrier for $8.7 million. The forecasted...

Finance
Q

How do unique species found on the Gal pagos Islands provide evidence to support the...

Biology
Q

Use a graph or table of values near x =?/2 to estimate the value of...

Basic Math
Q

0 11 0 24 0 11 0 16 0 31 0 07 2 4 6...

Statistics
Q

The graph below shows the temperature of a rock after some number of minutes 60...

Statistics
Q

The cost, in dollars, to produce a vats of ice cream is C(x) = 9x...

Calculus
Q

EXAM CODE 01 B. The statements of profit or loss and other comprehensive...

Accounting
Q

Hyde Company is considering two capital investments. Both investments have an initial cost of $6,000,000...

Accounting
Q

Question 2 Flyday Berhad is a public listed manufacturing company. Its summarised financial statements for...

Accounting
Q

Here are the abbreviated financial statements for Planners Peanuts: Inces Statement. 2019 Sales $3.060 Costs...

Finance