the company's cash outlays by completing the following:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![9. Calculating Payments [LO3] The Torrey Pine Corporation's purchases from
suppliers in a quarter are equal to 75 percent of the next quarter's forecast sales.
The payables period is 60 days. Wages, taxes,
sales, and interest and dividends are $90 per quarter. No capital expenditures are
planned.
Projected quarterly sales are shown here:
and other expenses are 20 percent of
Q1
Q2
Q3
Q4
Sales
$980
$930
$1,070
$1,250
Sales for the first quarter of the following year are projected at $1,090. Calculate
the company's cash outlays by completing the following:
Q1
Q2
Q3
Q4
Payment of accounts
Wages, taxes, other expenses
Long-term financing expenses
(interest and dividends)
Total](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff282f27c-d2f6-47d5-8eb6-4ea2fa1ccd77%2F8b7703a0-4934-4941-ba6a-e55d1518dda2%2Fbh8mtzf_processed.png&w=3840&q=75)
Transcribed Image Text:9. Calculating Payments [LO3] The Torrey Pine Corporation's purchases from
suppliers in a quarter are equal to 75 percent of the next quarter's forecast sales.
The payables period is 60 days. Wages, taxes,
sales, and interest and dividends are $90 per quarter. No capital expenditures are
planned.
Projected quarterly sales are shown here:
and other expenses are 20 percent of
Q1
Q2
Q3
Q4
Sales
$980
$930
$1,070
$1,250
Sales for the first quarter of the following year are projected at $1,090. Calculate
the company's cash outlays by completing the following:
Q1
Q2
Q3
Q4
Payment of accounts
Wages, taxes, other expenses
Long-term financing expenses
(interest and dividends)
Total
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