Question: Springbok limited provide the following information about their actual sales, and purchase for the past two months. August and September 2023, as well as the budgeted sales and purchase for October and November 2023. Month Sales Purchase August R 200 000 R 120 000 September R 220 000 R 150 000 October R 190 000 R 130 000 November R 160 000 R 110 000 20% of all sales are in cash, while 50% of sales are collected in the Month following the sales and the other 30% two months after the sales. 10% of purchases are done in cash, while 40% are done on credit and paid the following month. Wages and salaries amount 20% of the preceding month's sales. Rent and overheads expenses amount to R 22 000 per month, which includes R5 000 for depreciation. A cash dividend of R 7000 will be paid on the 31 October 2023. Fixed Assets of 30 000 will be purchased with cash in October. Positive cash balance of R15 000 must be maintained of 1 October 2023 Required Present a cash flow budget of all amounts to be received and paid in October, as well as the final cash balance on October 2023

Question: Springbok limited provide the following information about their actual sales, and purchase for the past two months. August and September 2023, as well as the budgeted sales and purchase for October and November 2023. Month Sales Purchase August R 200 000 R 120 000 September R 220 000 R 150 000 October R 190 000 R 130 000 November R 160 000 R 110 000 20% of all sales are in cash, while 50% of sales are collected in the Month following the sales and the other 30% two months after the sales. 10% of purchases are done in cash, while 40% are done on credit and paid the following month. Wages and salaries amount 20% of the preceding month's sales. Rent and overheads expenses amount to R 22 000 per month, which includes R5 000 for depreciation. A cash dividend of R 7000 will be paid on the 31 October 2023. Fixed Assets of 30 000 will be purchased with cash in October. Positive cash balance of R15 000 must be maintained of 1 October 2023 Required Present a cash flow budget of all amounts to be received and paid in October, as well as the final cash balance on October 2023

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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