Q7 a Please assist to answer Q7a 5. (a) The cash budget is indispensable to the financial manager in determining the short-term cashneeds of the firm and, accordingly, in planning its short-term financing. Is the cash budget a bettermeasure of liquidity than traditional measures, such as the current ratio and quick ratio? Explainyour reasoning.(b) Kiddy Company had credit sales of RM1,000,000, RM1,500,000 and RM800,000 in October,November and December 2021, respectively. The company's credit sales projections for Januarythrough March of 2022 are as follows:January – RM3,000,000February – RM2,400,000March – RM2,000,000Kiddy Company has normally collected 60% of its credit sales in the month following the sale, 30%in the second following month and 10% in the third month. Assuming this collection patterncontinues, prepare a schedule of cash receipts from receivables collection for the period Januarythrough March of 2022 (for the month of January, February and March).

A cash budget is a forecast of cash inflows and outflows for a given time period. Cash budgets are…

Answered: 5. (a) The cash budget is indispensable…

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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