Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 23 Jan 2018 My Price 8.00

‘prompt’ category

Prepare a Cash Budget for the 3 months that ended on 31 March 2010, on the basis of the following information:

   

Cash Balance on 1 January 2010

25,000

Estimated monthly salaries and wages

10,000

Interest payable in February 2010

5,000

 

Estimated

December
Rs.

January
Rs.

February
Rs.

March
Rs.

Cash Sales

-

1,40,000

1,52,000

1,21,000

Credit Sales

1,00,000

80,000

1,40,000

1,20,000

Purchases

1,60,000

1,70,000

2,40,000

1,80,000

Other Expenses

-

20,000

22,000

21,000

 

Cash Sales are collected 50% in the month in which the sales are made and 50% in the following month.Collections from the Credit Sales are subject to 5% discount if the payment is received during the month of sale and 2 % if the payment is received in the following month.

Creditors are paid either on a ‘prompt’ or 30-day basis. It is estimated that 10% of Creditors are in the ‘prompt’ category.

Answers

Maurice Tutor
(5)
Status NEW Posted 23 Jan 2018 06:01 PM My Price 8.00

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