Birds Unlimited has an account payable period of 60 days the firm has expected sales of...
Birds Unlimited has an account payable period of 60 days the firm has expected sales of 17,800, 22,100 ,24,400 and 28,800 repectviley by quarter for the next calender year. the purchaser for a quarter are equal to 65 percent of the following quarters sales. what is the amount of the projected cash disburments for acccount payable for quarter 3. assume a 360 day year
Homework Answers
Purchases of 3rd Quarter are 60% of 4th quarter sales
$28,800 * 0.65 = $18,720.
Cash Disbursements for accounts payable during Quarter 3 will be.
[($24,400 *0.65 /90) * 60] + [($18,720 / 90) * 30]
= [$10,573.33] + [$6,240]
= $16,813.33
So, Cash Disbursements during the Quarter 3 = $16,813.33
Add Answer to:
Birds Unlimited has an account payable period of 60 days the
firm has expected sales of...
The Thunder Dan's Corporation's purchases from suppliers in a quarter are equal to 65 percent of the next quarter's forecasted sales. The payables period is 60 days. Beginning accounts pay...
The Thunder Dan's Corporation's purchases from suppliers in a quarter are equal to 65 percent of the next quarter's forecasted sales. The payables period is 60 days. Beginning accounts payables is $200. Wages, taxes, and other expenses are 16 percent of sales, and interest and dividends are $60 per quarter. No capital expenditures are planned. Sales for the first quarter of the following year are projected at $720. The receivables period is 45 days. Beginning accounts receivables is $150. Initial...
A firm has projected next year's sales at $678 million of which 60 percent will be...
A firm has projected next year's sales at $678 million of which 60 percent will be for cash, and 40 percent will be on credit. Forecast the year-end accounts receivable balance if the firm expects an average collection period of 45 days (assume a 360-day year and calculate using year-end balance).
10. The firm has projected next year's quarterly sales at $960, $890, $980, and $1,050 for...
10. The firm has projected next year's quarterly sales at $960, $890, $980, and $1,050 for Quarters 1 to 4, respectively. Accounts receivable at the beginning of the year are $212 and the collection period is 18 days. What is the amount of the accounts receivable balance at the end of Quarter 2? Assume a year has 360 days. Please show your work. A) $212 B) $207 C) $178 D) $184 E) $167
Dome Metals has credit sales of $378,000 yearly with credit terms of net 60 days, which...
Dome Metals has credit sales of $378,000 yearly with credit terms of net 60 days, which is also the average collection period. Dome does not offer a discount for early payment, so its customers take the full 60 days to pay . a. What is the average receivables balance? (Use a 360-day year.) AVERAGE RECIEBLES BALANCE b. What is the receivables turnover? ? (Use a 360-day year.) RECIEVABLES TURNOVER Dome Metals has credit sales of $126,000 yearly. If Dome offers...
For the first quarter of the year, a company has projected sales of $3,870. Sales in...
For the first quarter of the year, a company has projected sales of $3,870. Sales in the subsequent quarters are projected to increase at 11.46% per quarter. The company has a payables period of 55 days. The company purchases inventory in each quarter equal to 39% of projected sales for the following quarter. Assuming a quarter equals 90 days, how much total cash payments are made in the first quarter for inventory purchases? $1,577 $1,616 $1,655 $1,695 $1,734
Jupiter stores had a Quarter 2 beginning cash balance of $647. Sales for Quarters 1 through...
Jupiter stores had a Quarter 2 beginning cash balance of $647. Sales for Quarters 1 through 3 are estimated at $800. $950 and $1.200, respectively. The cost of goods sold is equal to 59 percent of sales. Goods are purchased one quarter prior to the month of sale. The accounts payable period is 30 days, and the accounts receivable period is 15 days. The firm had quarterly cash expenses of $210. What was the cash balance at the end of...
Dome Metals has credit sales of $504,000 yearly with credit terms of net 60 days, which...
Dome Metals has credit sales of $504,000 yearly with credit terms of net 60 days, which is also the average collection period. Assume the firm adopts new credit terms of 3/18, net 60 and all customers pay on the last day of the discount period. Any reduction in accounts receivable will be used to reduce the firm's bank loan which costs 10 percent. The new credit terms will increase sales by 15% because the 3% discount will make the firm's...
King Fisher Aviation has projected the following quarterly sales amounts for the coming year: Quarter 1...
King Fisher Aviation has projected the following quarterly sales amounts for the coming year: Quarter 1 $750 Quarter 2 $820 Quarter 3 $790 Quarter 4 $950 Accounts Receivable at the beginning of the year are $350. King Fisher has a 30-day collection period. Calculate the cash collections in each of the four quarters by completing the following for each quarter Beginning receivables Sales Cash Collections Ending Receivables Rework the Ending Receivables calculation using 45 and 60 days What do you...
A firm is contemplating shortening its credit period from 40 to 30 days and believes that,...
A firm is contemplating shortening its credit period from 40 to 30 days and believes that, as result of this change, its average collection period will decline from 45 to 36 days. Bad-debt expenses are expected to decrease from 1.5% to 1% of sales. The firm is currently selling 12,000 units but believes that as result of the proposed change, sales will decline to 10,000 units. The sale price per unit is $56, and the variable cost per unit is...
A firm has sales of $1.9 million, and 15 percent of the sales are for cash....
A firm has sales of $1.9 million, and 15 percent of the sales are for cash. The year-end accounts receivable balance is $210,000. What is the average collection period? (Use a 360-day year. Do not round intermediate calculations. Round your final answer to 2 decimal places.) Average collection period __________ days?
10. The firm has projected next year's quarterly sales at $960, $890, $980, and $1,050 for Quarters 1 to 4, respectively. Accounts receivable at the beginning of the year are $212 and the collection period is 18 days. What is the amount of the accounts receivable balance at the end of Quarter 2? Assume a year has 360 days. Please show your work. A) $212 B) $207 C) $178 D) $184 E) $167
For the first quarter of the year, a company has projected sales of $3,870. Sales in the subsequent quarters are projected to increase at 11.46% per quarter. The company has a payables period of 55 days. The company purchases inventory in each quarter equal to 39% of projected sales for the following quarter. Assuming a quarter equals 90 days, how much total cash payments are made in the first quarter for inventory purchases? $1,577 $1,616 $1,655 $1,695 $1,734
Jupiter stores had a Quarter 2 beginning cash balance of $647. Sales for Quarters 1 through 3 are estimated at $800. $950 and $1.200, respectively. The cost of goods sold is equal to 59 percent of sales. Goods are purchased one quarter prior to the month of sale. The accounts payable period is 30 days, and the accounts receivable period is 15 days. The firm had quarterly cash expenses of $210. What was the cash balance at the end of...
King Fisher Aviation has projected the following quarterly sales amounts for the coming year: Quarter 1 $750 Quarter 2 $820 Quarter 3 $790 Quarter 4 $950 Accounts Receivable at the beginning of the year are $350. King Fisher has a 30-day collection period. Calculate the cash collections in each of the four quarters by completing the following for each quarter Beginning receivables Sales Cash Collections Ending Receivables Rework the Ending Receivables calculation using 45 and 60 days What do you...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago