1) Calvani, Inc , has a cash cycle of 38 days, an operating cycle of 52 days, and an inventory period of 21 5 days The company reported cost of goods sold in the amount of $358,000, and credit sales were $581,000 What is the companys average balance in accounts payable and accounts receivable (Do not round intermediate calculations and round your answers to 2 decimal places, e g , 32 16 ) Average accounts payable $ Average accounts receivable $ 2) The Sepulcro Corporations purchases from suppliers in a quarter are equal to 80 percent of the next quarters forecast sales The payables period is 60 days Wages, taxes, and other expenses are 35 percent of sales, and interest and dividends are $126 per quarter No capital expenditures are planned Projected quarterly sales are Q1 Q2 Q3 Q4 Sales $1,170 $1,320 $1,410 $1,620 Sales for the first quarter of the following year are projected at $1,290 Calculate the companys cash outlays by completing the following (Do not round intermediate calculations and round your answers to 2 decimal places, e g , 32 16 ) Q1 Q2 Q3 Q4 Payment of accounts $ $ $ $ Wages, taxes, other expenses Long term financing expenses (interest and dividends) Total $ $ $ $ 3) The following is the sales budget for Tesoro Azul, Inc , for the first quarter of 2016 January February March Sales budget $144,000 $161,000 $176,000 Credit sales are collected as follows 55 percent in the month of the sale 25 percent in the month after the sale 20 percent in the second month after the sale The accounts receivable balance at the end of the previous quarter was $128,900 ($92,700 of which was uncollected December sales) a Compute the sales for November (Do not round intermediate calculations and round your answer to the nearest whole number, e g , 32 ) Sales $ b Compute the sales for December (Do not round intermediate calculations and round your answer to the nearest whole number, e g , 32 ) Sales $ c Compute the cash collections from sales for each month from January through March (Do not round intermediate calculations and round your answers to the nearest whole number, e g , 32 ) Cash Collection January $ February $ March $

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1) Calvani, Inc., has a cash cycle of 38 days, an operating cycle of 52 days, and an inventory period of 21.5 days. The company

1)Calvani, Inc., has a cash cycle of 38 days, an operating cycle of 52 days, and an inventory period of 21.5 days. The company reported cost of goods sold in the amount of $358,000, and credit sales were $581,000.

What is the companys average balance in accounts payable and accounts receivable?(Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)


Average accounts payable	$
Average accounts receivable	$

2)The Sepulcro Corporations purchases from suppliers in a quarter are equal to 80 percent of the next quarters forecast sales. The payables period is 60 days. Wages, taxes, and other expenses are 35 percent of sales, and interest and dividends are $126 per quarter. No capital expenditures are planned. Projected quarterly sales are:

	Q1	Q2	Q3	Q4
Sales	$1,170	$1,320	$1,410	$1,620

Sales for the first quarter of the following year are projected at $1,290. Calculate the companys cash outlays by completing the following:(Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

	Q1	Q2	Q3	Q4
Payment of accounts	$	$	$	$
Wages, taxes, other expenses
Long-term financing expenses (interest and dividends)
Total	$	$	$	$

3)The following is the sales budget for Tesoro Azul, Inc., for the first quarter of 2016:

	January	February	March
Sales budget	$144,000	$161,000	$176,000

Credit sales are collected as follows: 55 percent in the month of the sale 25 percent in the month after the sale 20 percent in the second month after the sale The accounts receivable balance at the end of the previous quarter was $128,900 ($92,700 of which was uncollected December sales). a.Compute the sales for November.(Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Sales $ b.Compute the sales for December.(Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Sales $ c.Compute the cash collections from sales for each month from January through March.(Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)