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What is the cash budget for hoyt inc

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Reference no: EM132534724

Bella, Inc. has estimated current year sales (in millions) for the next four quarters.

Q1 $240

Q2 $250

Q3 $205

Q4 $350

  1. Sales for the 1st quarter next year are projected to be $230.
  2. Accounts Receivable at the beginning of the year was $100.
  3. Beginning Accounts Payable were $60.
  4. The beginning cash balance is $50.
  5. Hoyt, Inc. cash collection schedule is as follows: 60% of sales in the current quarter, 40% in the 1st quarter after sale.
  6. Purchases from suppliers in a quarter are equal to 50% of the next quarter's forecasted sales.
  7. Suppliers are normally paid in 50% in the quarter purchases are made and 50% in the following quarter.
  8. Wages, taxes and other expenses are 20% of current quarter sales
  9. Bella, Inc. maintains a minimum cash balance of $30

Question 1: What is the cash budget for Hoyt, Inc.

Reference no: EM132534724

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