(Answered) Calculating Cash Collection and Payments

26-5: Using Excel: The Litzenberger Company has projected the following quarterly sales amounts for the coming year;Q1 Q2 Q3 Q4;Sales $700 $630 $810 $930;a. 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;Q1 Q2 Q3 Q4;Beginning receivables;Sales;Cash collections;Ending receivables;b. Rework (a) assuming a collection period of 60 days.;c. Rework (a) assuming a collection period of 30 days.;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;Q1 Q2 Q3 Q4;Sales $830 $1,050 $970 $860;Sales for the first quarter of the following year are projected at $970. Calculate the company's cash outlays by completing the following;Q1 Q2 Q3 Q4;Payment of accounts;Wages, taxes and other expenses;Long-term financing expenses(interest and dividends);Total;Attachments;Calculating Cash Collection and Payments.docx
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Calculating Cash Collection and Payments

 


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