Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Bruin Corporations purchases from suppliers in a quarter are equal to 80 percent of the next quarters forecast sales. The payables period is 60

The Bruin 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 $116 per quarter. No capital expenditures are planned.

Projected quarterly sales are:

Sales Q1-$1,560 Q2-$1,710 Q3-$1,770 Q4-$2,010

*Sales for the first quarter of the following year are projected at $1,680.

Required: Calculate Bruins cash outlays by completing the following (Do not round intermediate calculations. 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 $________ $_________ $___________ $_________

I have asked this question before but the answer was incorrect....please help!!!!!

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

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 Finance questions