From the following information, prepare a monthly cash budget for the three months ending 31st December2023.MonthJuneJulyAugustSeptemberOctoberNovemberDecemberMaterialsWages1,8006502,0007502,4007502,2507502.3008002,5002,6009001,000The credit terms are as follows: 10% of sales are in cash. 3 months to debtors. 2 months from Creditors.Sales3,0003,2503,5003,7504,0004,2504,500The lag in payment for wages is 1/4 month and 1/2 month for overheads.The cash and bank balance on 1st October is expected to be RO 1,500.Other information is given as follows:Admin.Selling, etc160160175175200200225Production225225250300300350350Preference share dividends @ 5% on RO 50,000 are to be paid on 1st December.Calls on 250 equity shares @RO 2 per share are expected on 1st November.Dividends from investments amounting to RO 250 are expected on 31st December.Income tax (advance) is to be paid in December RO 1,500Plant and machinery are to be installed in August at a cost of RO 24,000. This sum will be paid in monthlyinstallments of RO 2,500 each from 1st October.

Cash Budget - A cash budget is a projection of a company's cash flows over a given time frame. The…

e following information, prepare a monthly cash budget for the three months ending 31st December onth June July ugust tember ctober ember cember Sales 3,000 3,250 3,500 3,750 4,000 4,250 4,500 Materials 1,800 2,000 2,400 2,250 2,300 2,500 2,600 Wages 650 750 750 750 800 900 1,000 Production 225 225 250 300 300 350 350 Admin Selling, 160 160 175 175 200 200 225 dit terms are as follows: 10% of sales are in cash. 3 months to debtors. 2 months from Creditors. in payment for wages is 1/4 month and 1/2 month for overheads. h and bank balance on 1st October is expected to be RO 1,500. formation is given as follows: d machinery are to be installed in August at a cost of RO 24,000. This sum will be paid in monthly ents of RO 2,500 each from 1st October.

e following information, prepare a monthly cash budget for the three months ending 31st December onth June July ugust tember ctober ember cember Sales 3,000 3,250 3,500 3,750 4,000 4,250 4,500 Materials 1,800 2,000 2,400 2,250 2,300 2,500 2,600 Wages 650 750 750 750 800 900 1,000 Production 225 225 250 300 300 350 350 Admin Selling, 160 160 175 175 200 200 225 dit terms are as follows: 10% of sales are in cash. 3 months to debtors. 2 months from Creditors. in payment for wages is 1/4 month and 1/2 month for overheads. h and bank balance on 1st October is expected to be RO 1,500. formation is given as follows: d machinery are to be installed in August at a cost of RO 24,000. This sum will be paid in monthly ents of RO 2,500 each from 1st October.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Answer with following data.
The following budget Information is available for the Arch Company for January Year 2: Sales Cost of goods sold Utilities expense Administrative salaries Sales commissions Advertising Depreciation on store equipment Rent on administration building Miscellaneous administrative expenses All operating expenses are paid in cash in the month incurred. Compute the total budgeted selling and administrative expenses (excluding interest) amount for January Year 2. Multiple Choice O $530,000 $448,000 $483,500 $ 990,000 670,000 5,400 230,000 $528,900 5% of sales 46,000 76,000 86,000 36,000
Based on the following data, prepare a cash budget (in proper form with labels) for July and August. Forecast sales May $12,000 June 15,000 July $16,000 August $12,000 Cash sales are 30% of total sales. Credit sales are collected as follows: 60% one month after the sale and 40% 2 months after the sale Accounts payable are paid 100% 2 months after the purchase Expected A/P May $5,000 June $6,000 July $7,000 August $8,000 In addition to purchases, there are utility bills of $1,500 each month Beginning cash for July is $3,800
Subject: acounting
Please do not give solution in image format thanku
please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Deleon Inc. is preparing its annual budgets for the year ending December 31, 2022. Accounting assistants furnish the data shown below. Sales budget: Anticipated volume in units Unit selling price Production budget: Desired ending finished goods units Beginning finished goods units Direct materials budget: Direct materials per unit (pounds) Desired ending direct materials pounds Beginning direct materials pounds Cost per pound Direct labor budget: Direct labor time per unit Direct labor rate per hour Budgeted income statement: Total unit cost Product JB 50 400,000 $20 30,000 25,000 2 30,000 40,000 $3 0.4 $12 $13 Product JB 60 200,000 $25 15,000 10,000 3 10,000 15,000 $4 0.6 $12 $20 An accounting assistant has prepared the detailed manufacturing overhead budget and the selling and administrative expense budget. The latter shows selling expenses of $560,000 for product JB 50 and $360,000 for product JB 60, and administrative expenses of $540,000 for product JB 50 and $340,000 for product…
help me and please provide correct answer with working
sub : Accounting pls answer ASAP.Please type the answer. dnt CHATGPT. i ll upvote.
Preparing an Accounts Payable Schedule Wight Inc. purchases raw materials on account for use in production. The direct materials purchases budget shows the following expected purchases on account: April $374,400 May 411,100 June 416,700 Wight typically pays 25% on account in the month of billing and 75% the next month. Required: 1. How much cash is required for payments on account in May? 2. How much cash is expected for payments on account in June?
H1.
-/1 View Policies Current Attempt in Progress Scan Design provided the following budgeted information for April through July: July June May April $104,000 $123,000 $115,000 $132,000 Projected sales Projected merchandise purchases $82,000 $92,000 $78,000 $66,000 .The cash balance on June 1 is $12,000. The company pays 40% of merchandise purchases in the month purchased and 60% in the following month. . General operating expenses are budgeted to be $31,000 per month of which depreciation is $3,000 of this amount. Management pays operating expenses in the month incurred The company makes loan payments of $4,000 per month of which $600 is interest and the remainder is principal. How much are budgeted cash disbursements for June? O $63,200. O $86,400. O $118.400. $102,800. 8:38 P 11/27/2 hp fa4+ f12 SU prt sc A delete home end & 7 num backspace lock home K 4 enter I