f)The Cathy Specialist Corporation approached you to compile a cash disbursementschedule for the month of March, April and May. Use the following information.Sales: January-RMS20,000; February-RM540,000; March-RM550,000;April=RM600,000; May-RM660,000; June-RM670,000.Purchases: Purchases are calculated as 70% of the following month's sales,50% of purchase are made in cash, 30% of purchases are settled one monthafter purchase, and the remaining 20% of purchase are settled two monthsafter purchase.c)d)e)g)h)the firm's expected cash receipts fora)b)Rent: The firm pays rent of RM9,500 per month.Wages & salaries: the fixed wage and salary costs are RM7,500 per monthplus a variable cost of 6.5% of the current month's sales.Taxes: the tax bill to be paid in May amount to RM57,500.Fixed asset outlay: new equipment will be acquired during March at a costof RM85,000.Interest payment: an amount of RM32,000 for interest is due in March.Cash Dividend: Dividends of RM15,000 will be paid in April.Required:Prepare a full set of cash disbursement for The Catchy Specialist Corporation forthe, month of March, April, and May.

Cash disbursement statement is not a statement that forms part of regular financials of an…

2. The Cathy Specialist Corporation approached you to compile a cash disbursement schedule for the month of March, April and May. Use the following information. Sales: January-RM520,000; February-RM540,000; March-RM550,000; f) c) d) e) g) h) a) b) April=RM600,000; May-RM660,000; June-RM670,000. Purchases: Purchases are calculated as 70% of the following month's sales, 50% of purchase are made in cash, 30% of purchases are settled one month after purchase, and the remaining 20% of purchase are settled two months after purchase. Rent: The firm pays rent of RM9,500 per month. Wages & salaries: the fixed wage and salary costs are RM7,500 per month plus a variable cost of 6.5% of the current month's sales. Taxes: the tax bill to be paid in May amount to RM57,500. Fixed asset outlay: new equipment will be acquired during March at a cost of RM85,000. Interest payment: an amount of RM32,000 for interest is due in March. Cash Dividend: Dividends of RM15,000 will be paid in April. Required: Prepare a full set of cash disbursement for The Catchy Specialist Corporation for the, month of March, April, and May.

2. The Cathy Specialist Corporation approached you to compile a cash disbursement schedule for the month of March, April and May. Use the following information. Sales: January-RM520,000; February-RM540,000; March-RM550,000; f) c) d) e) g) h) a) b) April=RM600,000; May-RM660,000; June-RM670,000. Purchases: Purchases are calculated as 70% of the following month's sales, 50% of purchase are made in cash, 30% of purchases are settled one month after purchase, and the remaining 20% of purchase are settled two months after purchase. Rent: The firm pays rent of RM9,500 per month. Wages & salaries: the fixed wage and salary costs are RM7,500 per month plus a variable cost of 6.5% of the current month's sales. Taxes: the tax bill to be paid in May amount to RM57,500. Fixed asset outlay: new equipment will be acquired during March at a cost of RM85,000. Interest payment: an amount of RM32,000 for interest is due in March. Cash Dividend: Dividends of RM15,000 will be paid in April. Required: Prepare a full set of cash disbursement for The Catchy Specialist Corporation for the, month of March, April, and May.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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