Eli Lilly sales for his nursery and plant company is $560,000. Eli’s net assets (assets –...
Eli Lilly sales for his nursery and plant company is $560,000.
Eli’s net assets (assets – liabilities) will be at 50 percent of
sales. His firm will enjoy an 8 percent return on total sales. He
will begin the year with $120,000 in the bank.
If there is no increase in sales and all other facts remain the
same, what would be Eli’s ending cash balance?
Ending cash
Homework Answers
| Calculation Of Ending Cash Balance | ||||
| Opening Cash Balance | $ 1,20,000 | |||
| Add: | ||||
| Net return during the year | 44800 | |||
| ($560000*.08) | ||||
| Endning Balance | $ 1,64,800 | |||
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Eli Lilly sales for his nursery and plant company is $560,000.
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