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CH26-5: Using Excel: The Litzenberger Company has projected the following quarterly sales amounts for the coming year:Q1Q2Q3Q4Sales$700$630$810$930a. Accounts receivable at the beginning of the year are $275. Litzenberger has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following:Q1Q2Q3Q4Beginning receivablesSalesCash collectionsEnding receivablesb. Rework (a) assuming a collection period of 60 days.c. Rework (a) assuming a collection period of 30 days.CH 26-8:Using Excel: The Thakor Corporation’s purchases from suppliers in a quarter are equal to 75% of the next quarter’s forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 20% of sales, and interest and dividends are $73 per quarter. No capital expenditures are planned.Here are the projected quarterly sales:Q1Q2Q3Q4Sales$830$1,050$970$860Sales for the first quarter of the following year are projected at $970. Calculate the company’s cash outlays by completing the following:Q1Q2Q3Q4Payment of accountsWages, taxes and other expensesLong-term financing expenses(interest and dividends)TotalCH 27 – 1. In a typical month, the Jeremy Corporation receives 80 checks totaling $156,000. There are delayed four days on average. What is the average daily float?
CH26-5: Using Excel: The Litzenberger Company has projected the following quarterly sales amounts for the coming year:Q1Q2Q3Q4Sales$700$630$810$930a. Accounts receivable at the beginning of the year are $275. Litzenberger has a 45-day collection period. Calculate cash collections in each of the four quarters by completing the following:Q1Q2Q3Q4Beginning receivablesSalesCash collectionsEnding receivablesb. Rework (a) assuming a collection period of 60 days.c. Rework (a) assuming a collection period of 30 days.CH 26-8:Using Excel: The Thakor Corporation’s purchases from suppliers in a quarter are equal to 75% of the next quarter’s forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 20% of sales, and interest and dividends are $73 per quarter. No capital expenditures are planned.Here are the projected quarterly sales:Q1Q2Q3Q4Sales$830$1,050$970$860Sales for the first quarter of the following year are projected at $970. Calculate the company’s cash outlays by completing the following:Q1Q2Q3Q4Payment of accountsWages, taxes and other expensesLong-term financing expenses(interest and dividends)TotalCH 27 – 1. In a typical month, the Jeremy Corporation receives 80 checks totaling $156,000. There are delayed four days on average. What is the average daily float?
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