Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 28 Not yet answered Points out of 5.00 Marina Hotel is a 170-room hotel and below is the forecasted Revenues for the upcoming three

image text in transcribed

Question 28 Not yet answered Points out of 5.00 Marina Hotel is a 170-room hotel and below is the forecasted Revenues for the upcoming three months. You are planning to renovate the hotel, which will cost $1,200,000. April May June Rooms Sold 4080 | 3570 3468 Rooms Revenue $489,600 $392,700 $364,140 Flag question Cash sales are estimated to be 30 percent of total sales, and cash from credit sales are received after one month. Credit sales from previous month (March) was $360,000. Variable costs are estimated to be 25 percent of total sales. Fixed costs are estimated to be $125,000 a month. Hotel has no loan payments. Renovation cost ($1,200,000) will be paid half in May and rest in June. Beginning cash balance of Cash is $450,000. What will be Total Cash Inflow in June? Select one: a. $506,880 b. $364,140 o c. $384,132 o d. $460,530

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Handbook Of Energy Audits

Authors: Albert Thumann, Terry Niehus, William J. Younger

7th Edition

1420067915, 978-1420067910

More Books

Students also viewed these Accounting questions