Polaris Industries is forecasting its financial statements for Year 10.Selected financial information for Year 9 is provided in the table.What is the forecasted balance of cash in Year 10? (Cash is the plug account.)Use the percentage of sales method to calculate accounts receivable for year 10 (based on the Year 9 values).
Selected Financial Information
Polaris Industries Inc.($000s)

Question

Quizplus · Accepted Answer

Calculate Accounts Receivable % of sales from Year 4 = 17% A/R = (2,292,614) × (0.17) = $389,744 Cash₁₀ = Total Liabilities & Owner's Equity - A/R - PP&E - Goodwill Cash₁₀ = 949,384 - 389,744 - 300,000 - 172,632 = $87,008

Polaris Industries Is Forecasting Its Financial Statements for Year 10