mainfruni WileyPLUSI MywlexPLUS I Hele I Contact Ps 1 Lag Out MANAGEMENT ACCOUNT

Question

mainfruni WileyPLUSI MywlexPLUS I Hele I Contact Ps 1 Lag Out MANAGEMENT ACCOUNTING (ACCT 2120) Exercise 9-18 Green Landscaping Inc, is preparing its budget for the first quarter of 2017. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule, EWORK GNMENT SIVEN To that end the following information has been collected. cents usualy pay 60% of their fee in the month that service is performed, 30% the month after, and iOS the second month after receiving service Act l se vice evenue for 2016 and expected sn vice revenues for 2017 are November 2016, $93,450; December 2016 $84,870; January 2017 103,910; February 2017, $123,360; March 2017, $133,910. 60% in the month of purchase and 40% the lowing on Act al purchases for 2016 and e pected rona es for 201 ate als are pai 2017, $16,440; February 2017, $18,390 Purcha eS of land a ng supplies (dir t are December 2036, $19,810; January March 2017, $21,630. Prepare the following schedules for each month in the first quarter of 2017 and for the quarter in total (1) Expected collections from dlients ew.soes GREEN L Schedule of Expected Collections From Clients Februany March December lanuary February March

Explanation / Answer

(1) Expected cash collections from clients

(2) Expected payments for landscaping suppliers

(b).

Green Landscaping Inc. Schedule of Expected Collections from Clients January February March Quarter November 9345 9345 December 25461 8487 33948 January 62346 31173 10391 103910 February 74016 37008 111024 March 80346 80346 Total 97152 113676 127745 338573

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