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The following projected 2022 figures were provided to you by the Marikit Company for analysis : (80% on credit) Sales P. 8,872,500 Cost of goods sold Operating expenses 3,629,585 1,822,420 Non-cash charges included in Cost of goods sold Operating expenses 220,500 88,725 The company operates on a five working days per week or 260-days per year. equired: a. Minimum cash balance for two weeks ? b. Average collection period if the accounts receivable on the average amounted to P443,625 ? c. If receivable turnover is expected to increase by 15%, how much will average receivable be?

The following projected 2022 figures were provided to you by the Marikit Company for analysis : (80% on credit) Sales P. 8,872,500 Cost of goods sold Operating expenses 3,629,585 1,822,420 Non-cash charges included in Cost of goods sold Operating expenses 220,500 88,725 The company operates on a five working days per week or 260-days per year. equired: a. Minimum cash balance for two weeks ? b. Average collection period if the accounts receivable on the average amounted to P443,625 ? c. If receivable turnover is expected to increase by 15%, how much will average receivable be?

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 57BE
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2. The following projected 2022 figures were provided to you by the Marikit Company for analysis : (80% on credit) Sales 8,872,500 Cost of goods sold 3,629,585 1,822,420 Operating expenses Non-cash charges included in Cost of goods sold Operating expenses P 220,500 88,725 The company operates on a five working days per week or 260-days per year. Required: a. Minimum cash balance for two weeks ? b. Average collection period if the accounts receivable on the average amounted to P443,625 ? c. If receivable turnover is expected to increase by 15%, how much will average receivable be?
Transcribed Image Text:2. The following projected 2022 figures were provided to you by the Marikit Company for analysis : (80% on credit) Sales 8,872,500 Cost of goods sold 3,629,585 1,822,420 Operating expenses Non-cash charges included in Cost of goods sold Operating expenses P 220,500 88,725 The company operates on a five working days per week or 260-days per year. Required: a. Minimum cash balance for two weeks ? b. Average collection period if the accounts receivable on the average amounted to P443,625 ? c. If receivable turnover is expected to increase by 15%, how much will average receivable be?
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