Apple Two Enterprises Expects to Generate Sales of $5,950,000 for Fiscal

question 109

Multiple Choice

Apple Two Enterprises expects to generate sales of $5,950,000 for fiscal 2018; sales were $3,450,000 in fiscal 2017. Assume the following figures for the fiscal year ending 2017: cash $70,000; accounts receivable $250,000; inventory $400,000; net fixed assets $520,000; accounts payable $235,000; and accruals $155,000. Use the percent-of-sales method to forecast cash for the fiscal year ending 2018.

• A) $120,725
• B) $75,003
• C) $216,418
• D) $319,604

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Proximity

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Proximity

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