Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need a lot of help with the last two tables, just the ones that are marked incorrect. We obtain the following 2020 forecasts of
I need a lot of help with the last two tables, just the ones that are marked incorrect.
We obtain the following 2020 forecasts of selected financial statement line items for Journey Company. a. Does forecasted cash deviate from the normal level for this company? Calculate the company's normal cash level as a percentage of sales. Normal cash as a \% of sales 7.22% Using the answer above, compute what should be the normal cash balance for FY2020. Normal cash balance for FY2020 $ 53457.73 d. Complete the following statement of cash flows assuming long-term debt is used to adjust the forecasted cash balance. e. Complete the following statement of cash flows assuming marketable securities are used to adjust the forecasted cash balanceStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started