The Dolphin Company is a merchandising company. Prepare a short-term cashforecast for 202o. Selected financial data from Dolphin Company are reproducedbelow (000):Cash, January 125Inventory, January 1600Depreciation expense for 202080Forecasted accounts receivable, December 31275Accounts receivable, January 1250Desired inventory, December 31650Forecasted cost of goods sold for 20203,000Forecasted accounts payable, December 3190Minimum cash balance desired60Accounts payable, January 1Cash outlays other then for inventory for 202075575Dolphin marks up its inventory cost by 25% to determine its sales price.Problem 4-1The forecasted cash balance (000) as of December 31, 2020 is:105220O 140O (10)

Forecasted cash balance is as follows:

The Dolphin Company is a merchandising company. Prepare a short- forecast for 2020. Selected financial data from Dolphin Company are below (000): Cash, January 1 Inventory, January 1 Depreciation expense for 2020 Forecasted accounts receivable, December 31

The Dolphin Company is a merchandising company. Prepare a short- forecast for 2020. Selected financial data from Dolphin Company are below (000): Cash, January 1 Inventory, January 1 Depreciation expense for 2020 Forecasted accounts receivable, December 31

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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Question

The Dolphin Company is a merchandising company. Prepare a short-term cash
forecast for 202o. Selected financial data from Dolphin Company are reproduced
below (000):
Cash, January 1
25
Inventory, January 1
600
Depreciation expense for 2020
80
Forecasted accounts receivable, December 31
275
Accounts receivable, January 1
250
Desired inventory, December 31
650
Forecasted cost of goods sold for 2020
3,000
Forecasted accounts payable, December 31
90
Minimum cash balance desired
60
Accounts payable, January 1
Cash outlays other then for inventory for 2020
75
575
Dolphin marks up its inventory cost by 25% to determine its sales price.
Problem 4-1
The forecasted cash balance (000) as of December 31, 2020 is:
105
220
O 140
O (10)

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