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Using the # of days method and all of the required information below, forecast the Ending Balance of Accounts Payable on the Balance Sheet for
Using the # of days method and all of the required information below, forecast the Ending Balance of Accounts Payable on the Balance Sheet for Year 3 below. ENTER ANSWER AS A WHOLE NUMBER (no decimals) Year 1 Year 2 Year 3 # of Days Payable 45 45 Total Payables (A/P + A/E) 95,265 102,195 Cash-based Expenses 772,862 828,782 837,913 # of Days 365 365 365 Cost per day 2,117 2,271 Liabilities and Stockholder Equity Year 1 Year 2 Year 3 Accounts Payable 52,265 59,695 Forecast this balance Accrued Liabilities 40,000 42,500 43,125 Current Maturities long term debt 150,000 150,000 150,000 Total Current Liabilities 245,265 252,195
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