PART A Question: Imagine you are the finance manager of Al Mohsin Company. The company management feels that the cash management of the company should be made more effective. The following information from the company's records is available to you: FITIT Miscellaneous Month Sales Purchase Wages 7,000 expenses February 40,000 20,000 1,000 March 55,000 14,000 8,000 3,000 April May 60,000 28,000 9,000 2,000 74,000 30,000 9,000 2,000 June 90,000 32,000 8,800 3,500 Additional Information 1. Al Mohsin LLC expects to have RO 8,000 cash balance at the beginning of April. 2. Period of credit allowed by suppliers - 2 months 3. 40% of the total sale is for cash. Half of the credit sale is collected in the next month of sale and the remaining half in the following month after that. 4. Delay in payment of wages 1/4 month 5. Delay in payment of expenses 1/2 month 6. Income tax to be paid in the month of June RO 1,500.

PART A Question: Imagine you are the finance manager of Al Mohsin Company. The company management feels that the cash management of the company should be made more effective. The following information from the company's records is available to you: FITIT Miscellaneous Month Sales Purchase Wages 7,000 expenses February 40,000 20,000 1,000 March 55,000 14,000 8,000 3,000 April May 60,000 28,000 9,000 2,000 74,000 30,000 9,000 2,000 June 90,000 32,000 8,800 3,500 Additional Information 1. Al Mohsin LLC expects to have RO 8,000 cash balance at the beginning of April. 2. Period of credit allowed by suppliers - 2 months 3. 40% of the total sale is for cash. Half of the credit sale is collected in the next month of sale and the remaining half in the following month after that. 4. Delay in payment of wages 1/4 month 5. Delay in payment of expenses 1/2 month 6. Income tax to be paid in the month of June RO 1,500.

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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