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les Information: Estimated % drop: es: Q4 Q1 Q2 Current Year Q3 Q4 Q1 02 Last Year Next Year

les Information: Estimated % drop: es: Q4 Q1 Q2 Current Year Q3 Q4 Q1 02 Last Year Next Year

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I would like to figure out how the numbers highlighted in yellow were found and what calculations were used to determine. Thank you!

Sales Information: Estimated % drop: Sales: Q4 Q1 Q2 Q3 Q4 Q1 Q2 Last Year Current Year Next Year Sales Price/Item: Credit Policy 20% Muffins 2018 Collection Information: Quarter Q3 Q4 45,000 2019 36,000 37,800 39,690 49,613 2020 43,758 45,946 $6.00 Cash Sales Credit Sales Collection in Current Quarter Collection in Following Quarter Collection in 3rd Quarter Collections from Last Year's Sales Sold $802,000 $1,002,500 Manufacturing Information: Next quarter inventory, days Cookies 65,000 Estimated Growth: 52,000 54,600 57,330 71,663 Case Data 63,206 66,366 $5.25 2018 Prior Year Received 10% 90% 30% 45% 25% $621,550 $370,925 Bread 85,000 68,000 71,400 74,970 93,713 82,654 86,787 $5.75 2019 Current Year 10% 90% 30% 45% 25% Q1 $180,450 $406,013 $586,463 5% Estimated Additional Holiday Increase: $0 $225,563 $225,563 Q1 Q2 Q3 Payments in Current Year (2019) Q2 Q3 $0 $0 $0 37.0% 40.5% 22.5% Q4 $0 $0 $0 15%
Transcribed Image Text:Sales Information: Estimated % drop: Sales: Q4 Q1 Q2 Q3 Q4 Q1 Q2 Last Year Current Year Next Year Sales Price/Item: Credit Policy 20% Muffins 2018 Collection Information: Quarter Q3 Q4 45,000 2019 36,000 37,800 39,690 49,613 2020 43,758 45,946 $6.00 Cash Sales Credit Sales Collection in Current Quarter Collection in Following Quarter Collection in 3rd Quarter Collections from Last Year's Sales Sold $802,000 $1,002,500 Manufacturing Information: Next quarter inventory, days Cookies 65,000 Estimated Growth: 52,000 54,600 57,330 71,663 Case Data 63,206 66,366 $5.25 2018 Prior Year Received 10% 90% 30% 45% 25% $621,550 $370,925 Bread 85,000 68,000 71,400 74,970 93,713 82,654 86,787 $5.75 2019 Current Year 10% 90% 30% 45% 25% Q1 $180,450 $406,013 $586,463 5% Estimated Additional Holiday Increase: $0 $225,563 $225,563 Q1 Q2 Q3 Payments in Current Year (2019) Q2 Q3 $0 $0 $0 37.0% 40.5% 22.5% Q4 $0 $0 $0 15%
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