12 INCOME STATEMENT3 Revenues4 BALANCE SHEET13 Total Assets14 LIABILITIES & EQUITY15 Accounts Payable16 Notes Payable17 Total Current Liabilities18 Long-term Debt19 Unlisted Shares*20 Retained Earnings21 Total Equity22 Total Equity and Liabilities23 *100,000 shares=F15*B3=E15* B3A=E15*B13=F15*B13Bnone of the answers is correct.$ VALUES2015$4,540,967 3,109,931 1,678,895201620155,113,450 3,247,000?FPERCENT OF SALES2014 % AVERAGE20152014100.00% 100.00% 100.00%2014 % AVERAGE2014193.40%2015178.91% 164.42%2016If you apply the percent of sales method to the balance sheet shown above, what is the formula in B15 to forecast theAccounts Payable for 2016?145,000 55,000750,000 300,000895,000 355,0001,868,347 800,0002,000,000 2,000,000350,103 92,0002,350,103 2,092,0005,113,450 3,247,000E3.97% 4.66%20.99% 24.12%24.96% 28.78%3.28%17.87%21.14%53.86% 60.08% 47.65%91.72% 64.31% 119.13%8.37% 11.26% 5.48%100.09% 75.57% 124.61%178.91% 164.42% 193.40%

The Percent of Sales Method, also known as the Sales Forecasting Method or the Sales Percentage…

1 2 INCOME STATEMENT 3 Revenues 4 BALANCE SHEET 13 Total Assets 14 LIABILITIES & EQUITY 15 Accounts Payable 16 Notes Payable 17 Total Current Liabilities 18 Long-term Debt 19 Unlisted Shares* 20 Retained Earnings 21 Total Equity A 22 Total Equity and Liabilities 23 100,000 shares B с $ VALUES ? D 2016 2015 $4,540,967 3,109,931 1,678,895 2016 2015 5,113,450 3,247,000 2014 % AVERAGE F PERCENT OF SALES 2014 2015 100.00% 100.00% 100.00% 2015 2014 178.91% 164.42% 193.40% E 145,000 750,000 895,000 1,868,347 800,000 55,000 300,000 355,000 2,000,000 2,000,000 350,103 92,000 2,350,103 2,092,000 5,113,450 3,247,000 2014 % AVERAGE G 3.97% 4.66% 3.28% 20.99% 24.12% 17.87% 24.96% 28.78% 21.14% 53.86% 60.08% 47.65% 91.72% 64.31% 119.13% 8.37% 11.26% 5.48% 100.09% 75.57% 124.61% 178.91% 164.42% 193.40% If you apply the percent of sales method to the balance sheet shown above, what is the formula in B15 to forecast the Accounts Payable for 2016?

1 2 INCOME STATEMENT 3 Revenues 4 BALANCE SHEET 13 Total Assets 14 LIABILITIES & EQUITY 15 Accounts Payable 16 Notes Payable 17 Total Current Liabilities 18 Long-term Debt 19 Unlisted Shares* 20 Retained Earnings 21 Total Equity A 22 Total Equity and Liabilities 23 100,000 shares B с $ VALUES ? D 2016 2015 $4,540,967 3,109,931 1,678,895 2016 2015 5,113,450 3,247,000 2014 % AVERAGE F PERCENT OF SALES 2014 2015 100.00% 100.00% 100.00% 2015 2014 178.91% 164.42% 193.40% E 145,000 750,000 895,000 1,868,347 800,000 55,000 300,000 355,000 2,000,000 2,000,000 350,103 92,000 2,350,103 2,092,000 5,113,450 3,247,000 2014 % AVERAGE G 3.97% 4.66% 3.28% 20.99% 24.12% 17.87% 24.96% 28.78% 21.14% 53.86% 60.08% 47.65% 91.72% 64.31% 119.13% 8.37% 11.26% 5.48% 100.09% 75.57% 124.61% 178.91% 164.42% 193.40% If you apply the percent of sales method to the balance sheet shown above, what is the formula in B15 to forecast the Accounts Payable for 2016?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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