Polaris Industries Is Forecasting Its Financial Statements for Year 10

question 64

Multiple Choice

Polaris Industries is forecasting its financial statements for Year 10.Selected financial information for Year 9 is provided in the table.What is the forecasted balance of cash in Year 10? (Cash is the plug account.) Use the percentage of sales method to calculate accounts receivable for year 10 (based on the Year 9 values) .
Selected Financial Information
Polaris Industries Inc.($000s)

• A) $80,300
• B) $85,343
• C) $87,008
• D) $89,078
• E) $90,731

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Definitions:

Fraud

Deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Contract

A legally binding agreement between two or more parties that is enforceable by law, characterized by an offer, acceptance, consideration, and mutual intent to be bound.

Objective Determination

A decision made based on unbiased evidence and facts, without influence from personal feelings or opinions.

Consideration

An essential element in contract law, referring to something of value exchanged between parties as part of an agreement.