Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

2.5 dooce is a merchandising company. Prepare a short-term cash forecast for 2021. Selected financial data from Dolphin Company are reproduced below (000): Cash, January

2.5 dooce is a merchandising company. Prepare a short-term cash forecast for 2021. Selected financial data from Dolphin Company are reproduced below (000):

Cash, January 1

50

Inventory, January 1

550

Depreciation expense for 2021

120

Forecasted accounts receivable, December 31

325

Accounts receivable, January 1

300

Desired inventory, December 31

950

Forecasted Cost of goods sold for 2021

3,200

Forecasted accounts payable, December 31

110

Minimum cash balance desired

90

Accounts payable, January 1

130

Cash outlays other than for inventory for 2021

560

Dolphin marks up its inventory cost by 20% to determine its sales price.

Problem 4.2

Forecasted cash disbursements (000) for inventory for 2021 are:

Group of answer choices

3,620

3,600

4,150

3,200

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

When is the deadline?

Answered: 1 week ago