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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.
What is the analytical way of accounting?
discounted our own note 60-18% for 4,500 note. the proceeds will be directly credited to bank account. what is the entry of this?
What is the Formula For Return on Working Capital
npa is either person or account
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what are the payroll procedures?
what is joint venture?
Whatis new GL & Odd G.L What is the difference between these two.
HOW CALCULATE ADVANCE TAX ? PLEASE EXPLAIN IT ?IN CASE OF FIRM, IF WE PAID FIRST INSTALMENT OF ADVANCE TAX.
1. Fdr mature with interest
selling price = shs. 200, variable overhead-selling per unit= shs 80, variable production cost per unit = shs 60, fixed selling cost = 2,840,000. the production capacity of the project is 200,000 units. required P/V ratio, BEP and margin of safety
How can retify the errors in the trial balance
Ledger Is The Principle Book Of Accounts In Business. Do You Agree For It. Comment On Your Confirmation?
Distinguish between sale and consignment
