What are the basic benefits and purposes of developing pro forma statements and a cash budget?
Answer to relevant QuestionsExplain how the collections and purchases schedules are related to the borrowing needs of the corporation.Eli Lilly is very excited because sales for his nursery and Plant Company are expected to double from $600,000 to $1,200,000 next year. Eli notes that net assets (Assets — Liabilities) will remain at 50 percent of sales. ...Sales for Ross Pro’s Sports Equipment are expected to be 4,800 units for the coming month. The company likes to maintain 10 percent of unit sales for each month in ending inventory. Beginning inventory is 300 units. How ...Sprint Shoes Inc. had a beginning inventory of 9,250 units on January 1, 2013. The costs associated with the inventory were:Material ......... $15.00 per unitLabor ........... 8.00 per unitOverhead ........ 7.10 per ...Mansfield Corporation had 2013 sales of $100 million. The balance sheet items that vary directly with sales and the profit margin are as follows: PercentCash .............. 5%Accounts receivable ...
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