from the following information prepare a cash budget for the 3 months that is ending 620433
From the following information, prepare a Cash Budget for the 3 months that is ending on 30 November 2009:
|
Months |
Sales |
Purchases |
Wages |
Factory Expenses |
Office Expenses |
|
June |
25,000 |
11,800 |
1,600 |
1,200 |
2,800 |
|
July |
24,000 |
12,010 |
1,680 |
1,170 |
3,000 |
|
August |
22,950 |
12,600 |
1,740 |
1,230 |
3,600 |
|
September |
23,400 |
11,550 |
1,740 |
1,260 |
4,200 |
|
October |
27,000 |
11,250 |
1,770 |
1,530 |
4,800 |
|
November |
28,500 |
13,200 |
1,770 |
l,800 |
3,900 |
The Bank Balance on 1 September 2009 is Rs. 3,000. A sales commission @ 5% on sales, which is due in the month following the month in which the sales dues are collected, is payable in addition to the office expenses.
Fixed Assets worth Rs. 19,500 will be purchased in September 2009 to be paid in October 2009. Rs. 5,000 in respect of debenture interest will be paid in October 2009.
The period of credit allowed to customers is 2 months and 1 month’s credit is obtained from the suppliers of goods. Wages are paid on an average, fortnightly on the 1st and 16th of each month. Expenses are paid in the month in which they are due.