Question

ales in January and February were 150,000 and 220,000 respectively. Sales of 380,000, 340,000 and 295,000 have been forecasted for March, April and May respectively. Based on historical data, 15% of the business sales are in cash form, 55% have generated accounts receivable collected after one month, and the remaining 30% have generated collected after two months. It also receives a monthly interest payment of 150,000 from a bank certificate of deposit. Purchases represent 80% of sales. Of this amount , 5% is paid in cash, 80% and 15% are paid after one month and two months, respectively. After the purchase, the business also pays a rent of P 15,000 every month.. Wages are 5% of monthly sales. On the other hand, fixed salary cost for the year is P 144,000 or P12,000 per month. Taxes of P 40,000 will be paid in April while capital expenditure in the form of new machinery costing P200,000 will be purchased and paid in full in March. Furthermore, an interest payment is due every month. A principal payment is also due in May. __B___54. How much was the cash sales in March? A. 33,000 B. 57,000 C. 51,000 D. 44,250 _____55. How much was the collection in April that comes from the sales in March? A. 82,500 B. 121,000 C. 209,000 D. 187,000 _____56. How much cash will be collected in June that comes from sales in April? A. 45,000 B. 66,000 C. 114,000 D. 99,000 _____57. How much was the total cash receipts in March? A. 265,000 B. 373,000 C. 476,000 D. 495,250 _____58. How much was the cash purchases in April? A. 8,800 B. 15,200 C. 13,600 D. 11,800 _____59. How much will be paid in May coming from March purchases? A. 217,600 B. 45,600 C. 343,000 D. 26,400 _____60. How much will be paid for salaries and wages in April? A. 23,000 B. 31,000 C. 29,000 D. 26750

Answer 1

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