From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
3749Post New D M Systems Accounting AllOther Interview Questions
- D M Systems Civil Engineering Interview Questions (1) D M Systems Accounting AllOther Interview Questions (1)
How can a great biological diversity protect an ecosystem from environmental damages? Why are less biodiverse ecosystems under the risk of suffering deep biological harms if submitted to even small changes?
Can you inject null and empty string values in spring?
What is the difference between journalism and professional writing?
Is nodejs a framework?
Is there any possibility in the biztalk FIFO(first-in-first-out) without use the orchestration? how to implement explain?
Define what is the grain size of lead as an element and as an alloy such as lead tin alloy?
How check variable is set or not in php?
What is the use of primary permission list in user profile?
If two companies are trading at the same trailing P/E multiple, are they also trading at the same trailing EV/EBITDA multiple?
What is a Work Schedule?
What is the main function of html?
What is a parameter in java?
How Sqoop word came? Sqoop is which type of tool and the main use of sqoop?
Is DNA stain used for viable FACS cell sorting?
What are the built in javascript functions available to customize your web template?
