Need help this question general accounting Suppose that LilyMac Photography has annual sales of $229,000,cost of goods sold of $164,000, average inventories of $5,600,average accounts receivable of $27,200, and an average accountspayable balance of $18,300.Assuming that all of LilyMac's sales are on credit, what will be thefirm's cash cycle? (Use 365 days a year. Do not round intermediatecalculations and round your final answer to 2 decimal places.)Cash cycle days

Cash Cycle= Days Inventory Outstanding (DIO) + Days Sales Outstanding (DSO) - Days Payables…

Answered: Suppose that LilyMac Photography has…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter17: The Management Of Cash And Marketable Securities

Section: Chapter Questions

Problem 2P

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Jim Hayes wants to buy some electronic equipment for $800. Jim has decided to save uniformamount at the end of each month so that after 12 months he will have the required $800. If theinterest rate is 0.5% per month (a) Construct a cash flow diagram (b) determine how much Jim has to deposit each month by using tabulated factors
Can someone please help me to solve the following question showing all work and formulas neatly. And please show the cash flow diagram as well. PLEASE ANS THANK YOU!!!!!
Pierre Martina is comparing the cost of credit to the cash price of an item. If Pierre makes a $150 down payment and pays $37 a month for 24 months, how much more will that amount be than the cash price of $752? (Input the amount as a positive value.)
Solve for A). (NEt daily advantage)
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Anne Teak, the financial manager of a furniture manufacturer, is considering operating a lock-box system. She forecasts that 400 payments a day will be made to lock boxes with an average payment size of $3,000. The bank's charge for operating the lock boxes is $0.50 a check. The interest rate is 0.012% per day. a. If the lock box makes the cash available 2 days earlier, calculate the net daily advantage of the system. Note: Do not round intermediate calculations. b. Is it worthwhile to adopt the system? c. What minimum reduction in the time to collect and process each check is needed to justify use of the lock-box system? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. a. Net daily advantage b. Is it worthwhile to adopt the system? c. Minimum reduction in time $ Yes (56) 1.39 days
Anne Teak, the financial manager of a furniture manufacturer, is considering operating a lock-box system. She forecasts that 600 payments a day will be made to lock boxes with an average payment size of $2,000. The bank’s charge for operating the lock boxes is $0.30 a check. The interest rate is 0.011% per day. a. If the lock box makes the cash available 2 days earlier, calculate the net daily advantage of the system. (Do not round intermediate calculations.) b. Is it worthwhile to adopt the system? multiple choice Yes No c. What minimum reduction in the time to collect and process each check is needed to justify use of the lock-box system? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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Assume that you have $10,000,000 in your bank account. You wish to withdraw $400,000 per year, at the end of each year, for the next 5 years, after which you wish to have $11,000,000 in the bank. What is the balance in your account after the 2nd year (after the withdrawal)? Hint: you will need first to solve for rate in Excel given all other parameters. Watch signs. Select one: a. $10,366,644 b. $10,600,000 c. $9,600,000 d. $10,488,912

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