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Question - On January 1, Easton Company had cash on hand of $110,000. All of January's $204,000 sales were on account. December sales of $214,000 were also all on account. Experience has shown that Easton typically collects 35% of receivables in the month of the sale and the balance the following month. All materials and supplies are purchased on account and Easton has a history of paying for half of these purchases in the month of purchase and half the following month. Such purchases were $171,000 for December and $157,000 for January. All other expenses including wages are paid in the month incurred. These amounted to $42,000 in December and $48,000 in January. Use this information to calculate the projected ending balance of cash on hand for January. (Round answer to the nearest whole dollar).
woodwick company issues 10 five year bonds on dec 31 2012 with a par value of 200000 and semiannual interest payments.
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