Answer Posted / simran

in case of advance payment from debtors
Bank a/c
To Debtors
in case of advance receipt to creditors
Creditors
To Bank a/c

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.

4226

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EXPAND___________INMA

1976

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Expand BEMS

2377

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I've just started to work as an accounts executive and intending to take up SAP. Can anyone tell me what are the preparations required for me as an accountant to be a successful SAP consultant.

2176

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what is differred tax liability? explain in detail with some example.

2989

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How do you avoid loss situation

1977

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service tax form no ? What is CC Limit ? What is branch accounts?

2209

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CAN ANY OF U TELL ME WHAT QUESTION ACTUALLY ASK IN OPERATION ROUND IN BA CONUTNNIUM SOLUTION

2014

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Short Answer on __________Trade

1915

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Difference Between Revenue & Capital Expenditure (Give an Example of each )

2145

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What's the meaning of Preferential Creditor?

2223

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give the examples of Error of Duplication?and Error of compensatin? with entries

4715

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how to prepare HSD statements in tally

2707

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Hi...At present am doing my second year B.Com.I want to do Chartered accountant.Could you send me the details such as when i can start this course,levels of course,proceudre to start( training and prerequirement if any)?And also do let me know is it possible to start from madurai.Note: I wanted to start by regular classes not by distant education. Thanks in avance.

2006

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if we have credit 50 % rg23c part ii first and not credit next balance 50 % .when we have do?

1847

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