a. Prepare a schedule of monthly cash receipts for January, February, and March.Harry's Carryout StoresCash Receipts ScheduleNovemberDecemberJanuaryFebruaryMarchSalesCredit salesBookCash salesPrintOne month after saleTwo months after saleerencesTotal cash receipts이 $ 3:08 PMC Homepage - Chegg Writir XWIx Free Website Builder | Cre xO Pokemon Sword and Shi XE FIN3403-Financial Mana XO Question 5 - Chapter 4 H Xb Answered: What are the X+->i ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=D0&launchUrl=https%253A%252F%252Flms.mheducation.com%252FChapter 4 HomeworkSave & ExitSavedHelpSubmltCheck my workHarry's Carryout Stores has eight locations. The firm wishes to expand by two more stores and needs a bank loan to do this. Mr.Wilson, the banker, will finance construction if the firm can present an acceptable three-month financial plan for January throughMarch. The following are actual and forecast sales figures:1.66ActualNovemberDecemberForecastAdditional Information$260,000 January340,000 FebruaryMarch$400,000 April forecast440,000410,000points$400,000еВokOf the firm's sales, 60 percent are for cash and the remaining 40 percent are on credit. Of credit sales, 20 percent are paid in themonth after sale and 80 percent are paid in the second month after the sale. Materials cost 20 percent of sales and are purchased andreceived each month in an amount sufficient to cover the following month's expected sales. Materials are paid for in the month afterthey are received. Labor expense is 50 percent of sales and is paid for in the month of sales. Selling and administrative expense ispercent of sales and is paid in the month of sales. Overhead expense is $31,000 in cash per month.PrintReferencesDepreciation expense is $10,600 per month. Taxes of $8,600 will be paid in January, and dividends of $5,000 will be paid in March.Cash at the beginning of January is $92,000, and the minimum desired cash balance is $87,000.a. Prepare a schedule of monthly cash receipts for January, February, and March.Harry's Carryout StoresCash Receipts ScheduleMcGrawHill< Prev5 of 6 HNext >

Depending on prior collection trends, a cash receipts schedule depicts the manner in which a firm…

Harry's Carryout Stores has eight locations. The firm wishes to expand by two more stores and needs a bank loan to do this. Mr. Wilson, the banker, will finance construction if the firm can present an acceptable three-month financial plan for January through March. The following are actual and forecast sales figures: Actual November December Forecast Additional Information $260,000 January $400,000 April forecast $400,000 340,000 February 440,000 March 410,000 Of the firm's sales, 60 percent are for cash and the remaining 40 percent are on credit. Of credit sales, 20 percent are paid in the month after sale and 80 percent are paid in the second month after the sale. Materials cost 20 percent of sales and are purchased and received each month in an amount sufficient to cover the following month's expected sales. Materials are paid for in the month after they are received. Labor expense is 50 percent of sales and is paid for in the month of sales. Selling and administrative expense is 15 percent of sales and is paid in the month of sales. Overhead expense is $31,000 in cash per month. Depreciation expense is $10,600 per month. Taxes of $8,600 will be paid in January, and dividends of $5,000 will be paid in March. Cash at the beginning of January is $92,000, and the minimum desired cash balance is $87,000. a. Prepare a schedule of monthly cash receipts for January, February, and March. Harry's Carryout Stores Cash Receipts Schedule

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1TCL: CONDUCTING A FINANCIAL RATIO ANALYSIS ON HP INC. Use online resources to work on this chapters...