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Cash Budgets Complete the following The following information represents Richard's Cash projections for part 2013 to 2014. Prepare a cash budget for January to April Months Sales Manufact Administ Selling uring Purchase Wages (Credit) (Credit) rative expenses expenses 1150 expenses 1060 2013 30000 15000 3000 500 Nov. Dec. 35000 20000 3200 1225 990 550 600 1040 2014 Jan. 25000 15000 2500 1100 Feb. 30000 20000 3000 1050 1150 620 March 35000 22500 2400 1100 1220 570 April 40000 25000 2600 1200 1180 710 Additional information in follows: i. The sales are two months after the sale. ii.A dividend of $ 15,000 is payable April. iii. A plant was bought in March for $ 3000. iv. Insurance was paid in March and April, payment will be done with in monthly instalments of $ 2,000 each. v. The creditors (purchases) are settled two months after the purchase was made (allowing a credit of 2 months). vi. Wages are paid on the 1st of the next months. vii. All other expenses are paid one month later. viii. Balance of cash in hand on 1st Jan. 2013 is $ 25,000,

Cash Budgets Complete the following The following information represents Richard's Cash projections for part 2013 to 2014. Prepare a cash budget for January to April Months Sales Manufact Administ Selling uring Purchase Wages (Credit) (Credit) rative expenses expenses 1150 expenses 1060 2013 30000 15000 3000 500 Nov. Dec. 35000 20000 3200 1225 990 550 600 1040 2014 Jan. 25000 15000 2500 1100 Feb. 30000 20000 3000 1050 1150 620 March 35000 22500 2400 1100 1220 570 April 40000 25000 2600 1200 1180 710 Additional information in follows: i. The sales are two months after the sale. ii.A dividend of $ 15,000 is payable April. iii. A plant was bought in March for $ 3000. iv. Insurance was paid in March and April, payment will be done with in monthly instalments of $ 2,000 each. v. The creditors (purchases) are settled two months after the purchase was made (allowing a credit of 2 months). vi. Wages are paid on the 1st of the next months. vii. All other expenses are paid one month later. viii. Balance of cash in hand on 1st Jan. 2013 is $ 25,000,

FINANCIAL ACCOUNTING
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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Cash Budgets Complete the following The following information represents Richard's Cash projections for part 2013 to 2014. Prepare a cash budget for January to April Purchase Wages (Credit) Months Sales Manufact Administ Selling uring (Credit) rative expenses expenses 1150 expenses 1060 2013 30000 15000 3000 500 Nov. Dec. 35000 20000 3200 1225 1040 550 2014 Jan. 25000 15000 2500 990 1100 600 Feb. 30000 20000 3000 1050 1150 620 March 35000 22500 2400 1100 1220 570 April 40000 25000 2600 1200 1180 710 Additional information in follows: i. The sales are two months after the sale. ii.A dividend of $ 15,000 is payable April. iii. A plant was bought in March for $ 3000. iv. Insurance was paid in March and April, payment will be done with in monthly instalments of $ 2,000 each. v. The creditors (purchases) are settled two months after the purchase was made (allowing a credit of 2 months). vi. Wages are paid on the 1st of the next months. vii. All other expenses are paid one month later. viii. Balance of cash in hand on 1st Jan. 2013 is $ 25,000,
Transcribed Image Text:Cash Budgets Complete the following The following information represents Richard's Cash projections for part 2013 to 2014. Prepare a cash budget for January to April Purchase Wages (Credit) Months Sales Manufact Administ Selling uring (Credit) rative expenses expenses 1150 expenses 1060 2013 30000 15000 3000 500 Nov. Dec. 35000 20000 3200 1225 1040 550 2014 Jan. 25000 15000 2500 990 1100 600 Feb. 30000 20000 3000 1050 1150 620 March 35000 22500 2400 1100 1220 570 April 40000 25000 2600 1200 1180 710 Additional information in follows: i. The sales are two months after the sale. ii.A dividend of $ 15,000 is payable April. iii. A plant was bought in March for $ 3000. iv. Insurance was paid in March and April, payment will be done with in monthly instalments of $ 2,000 each. v. The creditors (purchases) are settled two months after the purchase was made (allowing a credit of 2 months). vi. Wages are paid on the 1st of the next months. vii. All other expenses are paid one month later. viii. Balance of cash in hand on 1st Jan. 2013 is $ 25,000,
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