{"id":9389,"date":"2020-11-19T10:45:15","date_gmt":"2020-11-19T10:45:15","guid":{"rendered":"http:\/\/onlineclassesguru.com\/?p=9389"},"modified":"2020-11-19T10:45:15","modified_gmt":"2020-11-19T10:45:15","slug":"assume-were-at-the-end-of-this-year-planning-next-years-financial-statements","status":"publish","type":"post","link":"https:\/\/onlineclassesguru.com\/index.php\/2020\/11\/19\/assume-were-at-the-end-of-this-year-planning-next-years-financial-statements\/","title":{"rendered":"Assume we\u2019re at the end of \u201cthis year\u201d planning \u201cnext year\u2019s\u201d financial statements"},"content":{"rendered":"<style type=\"text\/css\"><\/style><p>Assume we\u2019re at the end of \u201cthis year\u201d planning \u201cnext year\u2019s\u201d financial statements. Calculate the following using indirect planning assumptions as indicated. (To keep the calculations simple formulate ratios using ending balance sheet figures only.)<br \/>\na. Sales are forecast to be $58,400,000. Management wants to plan for a 45-day ACP next year. What ending receivables balance should be planned for next year?<br \/>\nb. What ending inventory should be planned if revenue is expected to be $457,000 and the cost ratio is 53% (cost of goods sold as a % of revenue) and management wants to forecast an inventory turnover of 5X.<br \/>\nc. Normal credit terms from suppliers request payment within 30 days. In an effort to conserve cash, management has decided to pay in 50 days. Nearly all payables come from purchases of inventory. Materials makes up 60% of the Cost of Goods Sold. Next year\u2019s revenue is forecast to be $378M. The firm\u2019s cost ratio is expected to be 56%. What figure should be included in next year\u2019s ending balance sheet for Accounts Payable?<\/p>\n<p><center><a href=\"http:\/\/onlineclassesguru.com\/orders\/ordernow\"><img decoding=\"async\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcTyj99p60XCLyLk1htB7-1neRt8-2QdnenNlQ&usqp=CAU\"target=\"_http:\/\/onlineclassesguru.com\/orders\/ordernow\"\/><\/center><p>","protected":false},"excerpt":{"rendered":"<p>Assume we\u2019re at the end of \u201cthis year\u201d planning \u201cnext year\u2019s\u201d financial statements. Calculate the following using indirect planning assumptions as indicated. (To keep the calculations simple formulate ratios using ending balance sheet figures only.) a. Sales are forecast to be $58,400,000. Management wants to plan for a 45-day ACP next year. What ending receivables&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9389","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Assume we\u2019re at the end of \u201cthis year\u201d planning \u201cnext year\u2019s\u201d financial statements - onlineclassesguru<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/19\/assume-were-at-the-end-of-this-year-planning-next-years-financial-statements\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Assume we\u2019re at the end of \u201cthis year\u201d planning \u201cnext year\u2019s\u201d financial statements - onlineclassesguru\" \/>\n<meta property=\"og:description\" content=\"Assume we\u2019re at the end of \u201cthis year\u201d planning \u201cnext year\u2019s\u201d financial statements. Calculate the following using indirect planning assumptions as indicated. (To keep the calculations simple formulate ratios using ending balance sheet figures only.) a. Sales are forecast to be $58,400,000. Management wants to plan for a 45-day ACP next year. What ending receivables...\" \/>\n<meta property=\"og:url\" content=\"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/19\/assume-were-at-the-end-of-this-year-planning-next-years-financial-statements\/\" \/>\n<meta property=\"og:site_name\" content=\"onlineclassesguru\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-19T10:45:15+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin_admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/onlineclassesguru.com\/#website\",\"url\":\"https:\/\/onlineclassesguru.com\/\",\"name\":\"onlineclassesguru\",\"description\":\"Cheap Professional coursework and reaction papers help\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/onlineclassesguru.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/19\/assume-were-at-the-end-of-this-year-planning-next-years-financial-statements\/#webpage\",\"url\":\"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/19\/assume-were-at-the-end-of-this-year-planning-next-years-financial-statements\/\",\"name\":\"Assume we\\u2019re at the end of \\u201cthis year\\u201d planning \\u201cnext year\\u2019s\\u201d financial statements - onlineclassesguru\",\"isPartOf\":{\"@id\":\"https:\/\/onlineclassesguru.com\/#website\"},\"datePublished\":\"2020-11-19T10:45:15+00:00\",\"dateModified\":\"2020-11-19T10:45:15+00:00\",\"author\":{\"@id\":\"https:\/\/onlineclassesguru.com\/#\/schema\/person\/1831fa4d28e47b468621cf27932f5742\"},\"breadcrumb\":{\"@id\":\"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/19\/assume-were-at-the-end-of-this-year-planning-next-years-financial-statements\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/19\/assume-were-at-the-end-of-this-year-planning-next-years-financial-statements\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/19\/assume-were-at-the-end-of-this-year-planning-next-years-financial-statements\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/onlineclassesguru.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Assume we\\u2019re at the end of \\u201cthis year\\u201d planning \\u201cnext year\\u2019s\\u201d financial statements\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/onlineclassesguru.com\/#\/schema\/person\/1831fa4d28e47b468621cf27932f5742\",\"name\":\"admin_admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/onlineclassesguru.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/429c8d043f7a770af242b0031e8b9f2b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/429c8d043f7a770af242b0031e8b9f2b?s=96&d=mm&r=g\",\"caption\":\"admin_admin\"},\"url\":\"https:\/\/onlineclassesguru.com\/index.php\/author\/admin_admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Assume we\u2019re at the end of \u201cthis year\u201d planning \u201cnext year\u2019s\u201d financial statements - onlineclassesguru","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/onlineclassesguru.com\/index.php\/2020\/11\/19\/assume-were-at-the-end-of-this-year-planning-next-years-financial-statements\/","og_locale":"en_US","og_type":"article","og_title":"Assume we\u2019re at the end of \u201cthis year\u201d planning \u201cnext year\u2019s\u201d financial statements - onlineclassesguru","og_description":"Assume we\u2019re at the end of \u201cthis year\u201d planning \u201cnext year\u2019s\u201d financial statements. Calculate the following using indirect planning assumptions as indicated. (To keep the calculations simple formulate ratios using ending balance sheet figures only.) a. Sales are forecast to be $58,400,000. Management wants to plan for a 45-day ACP next year. 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