(Solution) 15. Month Sales $ Month Sales $ Jan 34,925 July 19,774 Feb 16,394 Aug 36,030 Mar 36,030 Sep 34,925 Apr 19,774 Oct 36,030 May 34,925 Nov 16,394 June | Snapessays.com


(Solution) 15. Month Sales $ Month Sales $ Jan 34,925 July 19,774 Feb 16,394 Aug 36,030 Mar 36,030 Sep 34,925 Apr 19,774 Oct 36,030 May 34,925 Nov 16,394 June


15. Month Sales $ Month Sales $ Jan         34,925 July         19,774 Feb         16,394 Aug         36,030 Mar         36,030 Sep         34,925 Apr         19,774 Oct         36,030 May         34,925 Nov         16,394 June         16,394 Dec         19,774 The company has estimated expenses as follows: General and administrative expenses: $5,145Material purchases are 67 percent of sales. Material purchases are paid in the month following the purchase.Interest payment per month: $3,766Rent expenses per quarter starting March: $2,624Calculate the cash outflows for June.Enter your answer rounded off to two decimal points. 16. ABC Corporation currently has an inventory turnover of 8.24, a payables turnover of 12.86, and a receivables turnover of 13.52. How many days are in the cash cycle? Enter your answer rounded off to two decimal points. 17. Which of the following is a Source of Cash? Choose only one.18. ABC Company has annual sales of $400,000 and cost of goods sold of $197,844. The accounts payable period is 30.28 days. What is the average accounts payable balance? 19. ABC Corporation currently has an inventory turnover of 43.84, a payables turnover of 8.08, and a receivables turnover of 8.22. How many days are in the operating cycle? 20. Month Sales $ Month Sales $ Jan         28,660 July         38,860 Feb         49,353 Aug         49,324 Mar         49,324 Sep         28,660 Apr         38,860 Oct         49,324 May         28,660 Nov         49,353 June         49,353 Dec         38,860 Sales are collected as follows:In the month of Sales: 39%In the next month: 33%After 2 months: 10%Remainder is considered as bad debt and is not collected.Calculate the cash collection for June.Enter your answer rounded off to two decimal points.

 


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This question was answered on: May 23, 2022

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