Accounting Assignment | College Homework Help

August Budgeted sales are: Month Sales revenue $12,000 September $14,000 October $15,000 November $15,000 December $10,000 You collect 50% of sales revenue as cash in the month of the sale, 40% in the following month, and 10% two months after the sale a) Compute budgeted cash inflows for October and November October $ November – $ Remember to go backwards in time: .9., 40% of September revenue is collected in the following month (October). College Homework HelpThis implies that cash inflows for October include 40% of sales from the previous month (September) b) According to the income statement, a firm is profitable in the current year. Can the firm run out of cash during the year? NO YES What are some examples of how a firm could run out of cash? (select all that apply) Trick question: by definition, a profitable firm must have higher cash inflows than cash outflows.
Purchase of new equipment: If a firm buys major new equipment for cash, then it has a large cash outflow in the current year. Current year’s income statement does not reflect this cash outflow (instead, this cash out how will become annual depreciation expense in future income statements during the entire useful life of the equipment). Rapid sales growth: A firm incurs many cash outflows in advance to generate sales (eg salaries, payments to suppliers), and it collects cash inflows from sales with a delay due to credit sales. To generate higher sales, the firm needs to increase cash out rows today, but the corresponding cash inflows will increase with a delay or a few months.College Homework Help
The firm can run out of cash during this delay c) A firm is about to run out of cash. What can I do to mitigate the cash shortage? (select all that apply) encourage customers to pay in cash (eg, offer a discount for cash payment) postpone equipment purchases encourage customers to pay their bilis early (eg, offer a discount for early payment) postpone payments to suppliers Oborrow money repay bank loans early to reduce debt buy new equipment Get Accounting Homework Help today

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