Bio Tronix Labs reports the following purchase information for the most recent reporting period: April May...
Bio Tronix Labs reports the following purchase information for the most recent reporting period:
| April | May | June | |
| Purchases | $325,000 | $400,000 | $475,000 |
April was the first month of operations for BioTronix Labs. BioTronix makes cash payments of 35 percent of its purchases in the month of the purchase and 65 percent the following month. There are no bad debts.
Compute the company’s cash payments for June.
The following data pertain to Marseilles Labs:
| Sales | |
| Sales | $1,120,000 |
| Cost of Sales | $784,000 |
| Inventory | $110,000 |
| Accounts receivable | $73,000 |
| Accounts payable | $41,000. |
Compute the additional working capital period for Marseilles Labs. Assume a 365 day year for calculations.
Homework Answers
Cash Payments of June will be (65% purchases of May month)+ (35% of June Month)
=400,000*65% + 475,000*35%
=260,000+166,250 = $426,250
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NWC= Inventory+Accounts receivable - Accounts Payable
= 110000+73000-41000 = $142,000
Days of working Capital = (NWC*365)/Annual sales
Days of working Capital = (142000*365)/1120,000 = 46.28
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