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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb7b9130d-6f4c-488f-acbd-4a4531cbbc36%2F1aa233b2-313a-4a61-b052-31f990aedaee%2Fkz2hx79_processed.jpeg&w=3840&q=75)
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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