Jenny Inc. has the following estimated sales. Sales Q1. 6560 Q2. 7800 Q3. 8710 Q4. 10620...
Jenny Inc. has the following estimated sales.
Sales Q1. 6560 Q2. 7800 Q3. 8710 Q4. 10620
Purchases are equal to 75 percent of the following quarter's sales.
The accounts receivable period is 30 days and the accounts payable
period is 60 days. Assume there are 30 days in each month. How much
will the firm owe its suppliers at the end of quarter 2?
Homework Answers
Q2 ending accounts payable = [Accounts Payable Period / Total Days in the quarter] x [0.75 x Q3 Sales]
= [60/90] x [0.75 x $8,710] = 0.67 x $6,532.50 = $4,355
Add Answer to:
Jenny Inc. has the following estimated sales.
Sales Q1. 6560 Q2. 7800 Q3. 8710 Q4. 10620...
Grohl Products has projected the following sales for the coming year: Q1 Q2 Q3 Q4 Sales...
Grohl Products has projected the following sales for the coming year: Q1 Q2 Q3 Q4 Sales $720 $790 $960 $880 Sales in the year following this one are projected to be 15 percent greater in each quarter. Requirement 1: Calculate payments to suppliers assuming that the company places orders during each quarter equal to 30 percent of projected sales for the next quarter. Assume that the company pays immediately. (a) What is the payables period in this case? (Do not...
Lewellen Products has projected the following sales for the coming year: Q1 Q2 Q3 Q4 Sales...
Lewellen Products has projected the following sales for the coming year: Q1 Q2 Q3 Q4 Sales $ 840 $ 920 $ 880 $ 980 Sales in the year following this one are projected to be 10 percent greater in each quarter. a. Calculate payments to suppliers assuming that the company places orders during each quarter equal to 30 percent of projected sales for the next quarter. Assume that the company pays immediately. (Do not round intermediate calculations and round your...
Intro It is the beginning of January. Actual sales for the previous quarter (Q4) and estimated...
Intro It is the beginning of January. Actual sales for the previous quarter (Q4) and estimated sales for the next five quarters are as follows (in $ million): Quarter Q4 Q1 Q2 Q3 Q4 Q1 Sales 24 25.2 26.46 27.78 29.17 30.63 You collect 50% of sales in the current quarter and the remainder in the following quarter. You expect to spend 40% of the following quarter's sales on purchases of components from suppliers, and to pay 70% of those...
Intro It is the beginning of January. Actual sales for the previous quarter (Q4) and estimated...
Intro It is the beginning of January. Actual sales for the previous quarter (Q4) and estimated sales for the next five quarters are as follows (in $ million): Quarter Q4 Q1 Q2 Q3 Q4 Q1 Sales 24 25.2 26.46 27.78 29.17 30.63 You collect 50% of sales in the current quarter and the remainder in the following quarter. You expect to spend 40% of the following quarter's sales on purchases of components from suppliers, and to pay 70% of those...
Intro It is the beginning of January. Actual sales for the previous quarter (Q4) and estimated...
Intro It is the beginning of January. Actual sales for the previous quarter (Q4) and estimated sales for the next five quarters are as follows (in $ million): Quarter Q4 Q1 Q2 Q3 Q4 Q1 Sales 24 25.2 26.46 27.78 29.17 30.63 You collect 50% of sales in the current quarter and the remainder in the following quarter. You expect to spend 40% of the following quarter's sales on purchases of components from suppliers, and to pay 70% of those...
Intro It is the beginning of January. Actual sales for the previous quarter (Q4) and estimated...
Intro It is the beginning of January. Actual sales for the previous quarter (Q4) and estimated sales for the next five quarters are as follows (in $ million): Intro It is the beginning of January. Actual sales for the previous quarter (Q4) and estimated sales for the next five quarters are as follows (in $ million): Quarter Q4 Q1 Q2 Q3 Q4 Q1 Sales 24 25.2 26.46 27.78 29.17 30.63 You collect 50% of sales in the current quarter and...
24. JoAnn Manufacturing has projected the following sales for the coming year: Sales Q1 $53,625 Q2...
24. JoAnn Manufacturing has projected the following sales for the coming year: Sales Q1 $53,625 Q2 Q3 Q4 $59,975 $68,925 $74,250 The company places orders each quarter that are 40 percent of the following quarter's sales and has a 30-day payables period. What is the payment of accounts for the third quarter? A. $25,183.33 B. $28,280.00 C. $26,376.67 D. $28,990.00 D. $29,714.75
Intro It is the beginning of January. Actual sales for the previous quarter (Q4) and estimated...
Intro It is the beginning of January. Actual sales for the previous quarter (Q4) and estimated sales for the next five quarters are as follows (in $ million): Intro It is the beginning of January. Actual sales for the previous quarter (Q4) and estimated sales for the next five quarters are as follows (in $ million): Quarter Q4 Q1 Q2 Q3 Q4 Q1 Sales 24 25.2 26.46 27.78 29.17 30.63 You collect 50% of sales in the current quarter and...
The MacDonald Corporation's purchases from suppliers in a quarter are equal to 75 percent of the...
The MacDonald Corporation's purchases from suppliers in a quarter are equal to 75 percent of the next quarter's forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 30 percent of sales, and interest and dividends are $115 per quarter. No capital expenditures are planned. Projected quarterly sales are: Sales Q1 $1,530 Q2 $1,680 Q3 $1,740 Q4 $1,980 Sales for the first quarter of the following year are projected at $1,650. Calculate the company's cash outlays...
The MacDonald Corporation's purchases from suppliers in a quarter are equal to 75 percent of the...
The MacDonald Corporation's purchases from suppliers in a quarter are equal to 75 percent of the next quarter's forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 30 percent of sales, and interest and dividends are $115 per quarter. No capital expenditures are planned. Projected quarterly sales are: Sales Q1 $1,530 Q2 $1,680 Q3 $1,740 Q4 $1,980 Sales for the first quarter of the following year are projected at $1,650. Calculate the company's cash outlays...
24. JoAnn Manufacturing has projected the following sales for the coming year: Sales Q1 $53,625 Q2 Q3 Q4 $59,975 $68,925 $74,250 The company places orders each quarter that are 40 percent of the following quarter's sales and has a 30-day payables period. What is the payment of accounts for the third quarter? A. $25,183.33 B. $28,280.00 C. $26,376.67 D. $28,990.00 D. $29,714.75
The MacDonald Corporation's purchases from suppliers in a quarter are equal to 75 percent of the next quarter's forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 30 percent of sales, and interest and dividends are $115 per quarter. No capital expenditures are planned. Projected quarterly sales are: Sales Q1 $1,530 Q2 $1,680 Q3 $1,740 Q4 $1,980 Sales for the first quarter of the following year are projected at $1,650. Calculate the company's cash outlays...
The MacDonald Corporation's purchases from suppliers in a quarter are equal to 75 percent of the next quarter's forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 30 percent of sales, and interest and dividends are $115 per quarter. No capital expenditures are planned. Projected quarterly sales are: Sales Q1 $1,530 Q2 $1,680 Q3 $1,740 Q4 $1,980 Sales for the first quarter of the following year are projected at $1,650. Calculate the company's cash outlays...
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