Homework Answers
Answer to Question 1.
Total Cash Inflow in January = (25% of January Sales) + (80% of December Credit Sales) + (20% of November Credit Sales)
December Credit Sales = $48,000 * 75% = $36,000
November Credit Sales = $38,000 * 75% = $28,500
Total Cash Inflow in January = (25% of $18,000) + (80% of
$36,000) + (20% of $28,500)
Total Cash Inflow in January = $4,500 + $28,800 + $5,700
Total Cash Inflow in January = $39,000
Answer to Question 2.
Total Expected Cash Outflow for Inventory in December = Cost of
Inventory purchased in December
Cost of Inventory purchased in December = Cost of Inventory to be
sold in January
Cost of Inventory purchased in December = (75% of $18,000)
Cost of Inventory purchased in December = $13,500
Total Expected Cash Outflow for Inventory in December = $13,500
Answer to Question 3.
Total Expected cash Outflow for January = Expected Cash Outflow for Inventory + Dividend Payment + Wages Payment + Rent Payment +Other Monthly Expense
Total Expected Cash Outflow for Inventory in January = Cost of
Inventory purchased in January
Cost of Inventory purchased in January = Cost of Inventory to be
sold in February
Cost of Inventory purchased in January = (75% of $16,000)
Cost of Inventory purchased in January = $12,000
Total Expected Cash Outflow for Inventory in January = $12,000
Total Expected cash Outflow for January = $12,000 + $15,000 +
$1,400 + $400 + (1% of $18,000)
Total Expected cash Outflow for January = $12,000 + $15,000 +
$1,400 + $400 + $180
Total Expected cash Outflow for January =
$28,980
Answer to Question 4.
Accounts Receivable, January 31 = January Credit Sales + (20% of December Credit Sales)
January Credit Sales = $18,000 * 75% = $13,500
December Credit Sales = $48,000 * 75% = $36,000
Accounts Receivable, January 31 = $13,500 + (20% of
$36,000)
Accounts Receivable, January 31 = $13,500 + $7,200
Accounts Receivable, January 31 = $20,700
Add Answer to:
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