Ali is a sole trader who buys and sells mechanical goods. The following sales are expected overthe six-month period from November 2019 to April 2020PurchasesSalesNovOMR 30000OMR 29000DecOMR 32000OMR 14000JanOMR 24000OMR 30000FebOMR 16000OMR 22000MarOMR 24000OMR 28000AprOMR 18000OMR 20000Additional Information:1. Salaries are paid each month of OMR 12000, which are paid in month that they are incurred2. Wages are paid each month of OMR 2000, which are paid in month that they are incurred.3. On 1 Feb 2020, a new machine is purchased for OMR 8000.4. Sales are all on credit and we allow a month credit period5. Purchases are all in cash6. The balance at the bank as at 315st December 2019 was OMR 1000Prepare a cash budget for the four month period ending 30 April 2020.

Introduction The cash budget is regarded as the financial plan which is made by the business in…

Answered: Ali is a sole trader who buys and sells…

Ali is a sole trader who buys and sells mechanical goods. The following sales are expected over the six-month period from November 2019 to April 2020

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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