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Accounting, Finance, SPSS
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Cash Budget Week 5 Assignment: Cash Budget for Hoyt, Inc (Coursework Sample)


*Answer the following questions

a. How long does it take for Charger to collect on its receivables? Explain/Show Work

b. How long does merchandise stay around before it is sold? Explain/Show Work

c. How long does it take Charger to pay its bills? Explain/Show Work

d. What is Charger’s operating cycle? Explain/Show Work

e. What is Charger’s cash cycle? Explain/Show Work

      Cash Budget Week 5 Name Institution Date     1.  Hoyt, Inc. has estimated current year sales (in millions) for the next four quarters.   Q1: $240 / Q2: $250 / Q3: $205 / Q4: $350
  • Sales for the 1st quarter next year are projected to be $230.
  • Accounts Receivable at the beginning of the year was $100.
  • Beginning Accounts Payable were $60.
  • The beginning cash balance is $50.
  • Hoyt, Inc. cash collection schedule is as follows: 60% of sales in the current quarter, 40% in the 1st quarter after sale.
    · Purchases from suppliers in a quarter are equal to 50% of the next quarter’s forecasted sales.
    · Suppliers are normally paid in 50% in the quarter purchases are made and 50% in the following quarter.
    · Wages, taxes and other expenses are 20% of current quarter sales · Hoyt, Inc.  maintains a minimum cash balance of $30
  Cash budget for Hoyt, Inc

Q1 Q2 Q3 Q4
Beginning receivables 100 96 100 82
Sales 240 250 205 350
Cash collections 244 246 223 292
Ending receivables 96 100 82 140

Beginning payables \

Payment of accounts 60 115 102.5 175
Wages, taxes and other expenses
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