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Answers Homework Chpt 26

Answers Homework Chpt 26 - 39,750.00 48,210.00 50,300.00...

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ITEM BEGINNING ENDING INVENTORY 8,413.00 10,158.00 ACCOUNTS RECEIVABLE 5,108.00 5,439.00 ACCOUNTS PAYABLE 6,927.00 7,625.00 NET SALES 67,312.00 COST OF GOODS SOLD 52,827.00 AVERAGE INVENTORY 9,285.50 INVENTORY TURNOVER RATIO 5.69 DAYS IN INVENTORY 64.15 AVERAGE ACCOUNTS RECEIVABLE 5,273.50 AVERAGE RECEIVABLE TURNOVER 12.76 DAYS IN RECEIVABLE 28.61 AVERAGE ACCOUNTS PAYABLE 7,276.00 AP DEFERRAL PERIOD 7.26 DAYS IN PAYABLES 50.28 OPERATING CYCLE, DAYS 92.76 CASH CYCLES, DAYS 42.48 Operating cycles reaches beyond a quarter and cash cycle goes over a month which allows cash cycle to be completed twice within the operating cycle.
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March April May June Credit sales 210,000.00 380,000.00 396,000.00 438,000.00 Credit purchases 156,000.00 147,000.00 175,500.00 200,500.00 Cash disubursements Wages, taxes, and expenses
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Unformatted text preview: 39,750.00 48,210.00 50,300.00 Interest 11,400.00 11,400.00 11,400.00 Equipment purchase 83,000.00 91,000.00 0.00 Cornell, INC Cash Budget For the Period of 2nd Quarter of 2007 April May June Beginning cash balance $280,000.00 $248,850.00 $317,840.00 Cash receipts Cash collections from credit sales 259,000.00 366,600.00 390,900.00 Total cash available 539,000.00 615,450.00 708,740.00 Cash disbursements Purchases 156,000.00 147,000.00 175,500.00 Wages, taxes, and expenses 39,750.00 48,210.00 50,300.00 Interest 11,400.00 11,400.00 11,400.00 Equipment purchase 83,000.00 91,000.00 0.00 Total cash disbursements 290,150.00 297,610.00 237,200.00 Ending cash balance $248,850.00 $317,840.00 $471,540.00...
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