Asked by Mike
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, and other expenses are 18 percent of sales, and interest and dividends are $60 per quarter. No capital expenditures are planned.
Projected quarterly sales are shown here:
Q1 Q2 Q3 Q4
Sales $680 $830 $800 $710
Sales for the first quarter of the following year are projected at $870. Calculate the company's cash outlays by completing the following (Do not include the dollar signs ($). Round your answers to 2 decimal places. (e.g., 32.16)):
Q1 Q2 Q3 Q4
Payment of accounts $ $ $ $
(there is more to this problem but the payment of accoutns in the only thing im having trouble with. Just cant figure it out.)
Projected quarterly sales are shown here:
Q1 Q2 Q3 Q4
Sales $680 $830 $800 $710
Sales for the first quarter of the following year are projected at $870. Calculate the company's cash outlays by completing the following (Do not include the dollar signs ($). Round your answers to 2 decimal places. (e.g., 32.16)):
Q1 Q2 Q3 Q4
Payment of accounts $ $ $ $
(there is more to this problem but the payment of accoutns in the only thing im having trouble with. Just cant figure it out.)
Answers
Answered by
Mike
Ive gotten the answers for Q1 and Q2 but still struggling with the last two.
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