Nocioni's Management Consultants
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Nocioni's Management Consultants has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. Sixty percent are paid in the month after the work is completed and 30% are paid in the second month after the work is completed.
During December 2007, Nocioni's invoiced $200,000 to clients. Projected revenues for the first six months of 2008 are given below:Month Revenue
January $180,000
February 205,000
March 220,000
April 218,000
May 230,000
June 255,000
Reference: Ref 10-2
What are the expected cash receipts for May 2008?
Student Response
1. $219,800
2. $221,800
3. $230,000
4. $228,900
Score: 0/0.4
Nocioni's Management Consultants has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. Sixty percent are paid in the month after the work is completed and 30% are paid in the second month after the work is completed.
During December 2007, Nocioni's invoiced $200,000 to clients. Projected revenues for the first six months of 2008 are given below:Month Revenue
January $180,000
February 205,000
March 220,000
April 218,000
May 230,000
June 255,000
Reference: Ref 10-2
What are the expected cash receipts for April 2008?
Student Response
1. $218,000
2. $215,300
3. $219,800
4. $217,900
Score: 0/0.36
Nocioni's Management Consultants has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. Sixty percent are paid in the month after the work is completed and 30% are paid in the second month after the work is completed.
During December 2007, Nocioni's invoiced $200,000 to clients. Projected revenues for the first six months of 2008 are given below:Month Revenue
January $180,000
February 205,000
March 220,000
April 218,000
May 230,000
June 255,000
Reference: Ref 10-2
What are the expected cash receipts for March 2008?
Student Response
1. $199,000
2. $207,000
3. $128,500
4. $220,000
Score: 0/0.33
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This solution is comprised of a detailed explanation to answer what are the expected cash receipts for May 2008.
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Nocioni's Management Consultants has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. Sixty percent are paid in the month after the work is completed and 30% are paid in the second month after the work is completed.
During December 2007, Nocioni's invoiced $200,000 to clients. Projected revenues for the first six months of 2008 are given below:
Month Revenue
January $180,000
February 205,000
March 220,000
April 218,000
May 230,000
June 255,000
Reference: Ref 10-2
What are the ...
Purchase this Solution
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