Plb0909
Apr 1, 2014, 07:49 PM
Q1 $240 Q2 $250 Q3 $205 Q4 $350
Sales for 1st quarter next year are projected to be $230.
Accounts Rec. at the beginning of the year was 100.
Beginning Accounts payable were 60.
The beginning cash balance is 50.
Hoyt, Inc. cash collection schedule is as follows: 60% if sakes in current quarter, 40% in the 1st quarter sale.
Purchasesfrom suppliers in a quarter are equal to 50% of the next quarter's forecasted sales.
Suppliers are normally paid in 50% in the quarter purchases are made and 50% in the following quarter.
Wages taxes and other expenses are 20% of current quarter sales
Hoyt, Inc. maintains a minimum cash of 30.
Sales for 1st quarter next year are projected to be $230.
Accounts Rec. at the beginning of the year was 100.
Beginning Accounts payable were 60.
The beginning cash balance is 50.
Hoyt, Inc. cash collection schedule is as follows: 60% if sakes in current quarter, 40% in the 1st quarter sale.
Purchasesfrom suppliers in a quarter are equal to 50% of the next quarter's forecasted sales.
Suppliers are normally paid in 50% in the quarter purchases are made and 50% in the following quarter.
Wages taxes and other expenses are 20% of current quarter sales
Hoyt, Inc. maintains a minimum cash of 30.