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Category > Accounting Posted 22 Jul 2017 My Price 10.00

overdraft facilities

ABC Co. wished to arrange overdraft facilities with its bankers during the period April 2008 to June 2008 when it will be manufacturing mostly for the stock. Prepare a Cash Budget for the above period from the following data, indicating the extent of the bank facilities the company will require at the end of each month.

Particulars

Sales

Purchases

Wages

February 2008

Rs.1, 80,000

Rs.1, 24,800

Rs.12, 000

March

1, 92,000

1, 44,000

14, 000

April

1, 08,000

2, 43,000

11, 000

May

1, 74,000

2, 46,000

10, 000

June

1, 26,000

2, 68,000

15, 000

Additional Information:

1. 50% of the credit sales are realized in the month following the sales and remaining 50% in the second month following. Creditors are paid in the month following the month of purchases. There are no cash sales or cash purchases

2. Cash at bank [overdraft] estimated on 1st April 2008 is Rs.25, 000

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Jul 2017 09:07 PM My Price 10.00

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