Answer Posted / dilip

Authorised capital or nominal capital is the maximum amount
of capital which a company can raise from varoius persons
by way of issue of shares i.e.Out sidres, Directors and
their relatives or any other party and is mentioned in the
Object clause of the memorandum of association of the
company.In other words, the authorised capital is the
maximum amount of capital with which the company has been
registered with the Registrar of companies after payment of
appropriate fees, beyond which the company can not issue
the shares to any body.

Subscribed capital is that portion of the Authorised or
nominal capital which has been issued by the company and
has been subscribed by various persons.

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.

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