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Rashid [163]
3 years ago
8

Philip Morris expects the sales for his clothing company to be $620,000 next year. Philip notes that net assets (Assets − Liabil

ities) will remain unchanged. His clothing firm will enjoy a 9 percent return on total sales. He will start the year with $220,000 in the bank. What will Philip's ending cash balance be?
Business
1 answer:
murzikaleks [220]3 years ago
5 0

Answer:

Philip's ending cash balance will be $275,800

Explanation:

Ending cash balance  = Beginning bank balance + Return on sales

                                   = $220,000 + $(620,000*9%)

                                   = $220,000 + $55800

                                   = $275,800

Therefore, Philip's ending cash balance will be $275,800

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Answer:

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Explanation:

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3 0
3 years ago
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Delicious77 [7]

Answer:

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4 0
3 years ago
Is the cost of equity calculated from the CAPM model, pre -tax or post-tax?
Natasha_Volkova [10]
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3 years ago
Which of the following outcomes is not a direct result of a market​ analysis?
uranmaximum [27]
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.

below are the choices that should accompanied your question above the answer is D. 

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A

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