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| *Ostroff, Fair and Company>>>Other - Advertising & Marketing |
Financial manangment? |
ABC Company expects sales of Rs. 2.4 million next year and same among the following year. Sales are spread evenly throughout the year. On the basis of the following information, prepare a forecast income statement and balance sheet for year end: 飩ash: Minimum of 4 % of annual sales. 飩?Accounts receivable: 60-day average collection period based on annual sales. 飩nventories: Turnover of eight times a year. 飩et fixed assets: Rs. 500,000 now. Capital expenditure equal to depreciation. 飩ccounts payable: One month鈥檚 purchases. 飩ccrued expenses: 3% of sales. 飩ank borrowings: Rs. 50,000 now. Can borrow up to Rs. 250,000. 飩ong-term debt: Rs. 300,000 now. Payable Rs. 75,000 at year end. 飩ommon stock: Rs. 100,000. No additions planned. 飩etained earnings: Rs. 500,000 now 飩et profit margin: 8% of sales. 飩ividends: none. 飩ost of goods sold: 60% of sales. 飩urchases: 50% of cost of goods sold. 飩ncome taxes: 50% of before-tax profits. This requires spreadsheet format in order to be answered. Y!A offers only plain text format. If i were you, i would search for the formulas inside the textbook and simply apply them in excel. Good luck. |
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