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Telephone Total Payments II. Balance I. III. ▪. Answer the following questions relating to the budget variance report completed in question 5. Which cash receipt had a positive variance? 1,450 1,320 Which cash payments had a negative variance? Analyse the balance for the variance.

Telephone Total Payments II. Balance I. III. ▪. Answer the following questions relating to the budget variance report completed in question 5. Which cash receipt had a positive variance? 1,450 1,320 Which cash payments had a negative variance? Analyse the balance for the variance.

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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5. As the record keeper for Tiny Day Care Centre, you have been asked to complete the institution's variance report for January 2020 from the information shown below. (8 marks) Heading: Description Receipts: Tuition Sales from Fund Raising Total Receipts Payments: Wages Mortgage Payment Gas and Electric Supplies Telephone Total Payments Balance (Sit Budgeted $ 30,500 10,000 11,800 10,000 8,200 9,000 1,450 Actual $ 40,000 7,500 9,300 10,000 10,676 8,950 1,320 Variance completed in
Transcribed Image Text:5. As the record keeper for Tiny Day Care Centre, you have been asked to complete the institution's variance report for January 2020 from the information shown below. (8 marks) Heading: Description Receipts: Tuition Sales from Fund Raising Total Receipts Payments: Wages Mortgage Payment Gas and Electric Supplies Telephone Total Payments Balance (Sit Budgeted $ 30,500 10,000 11,800 10,000 8,200 9,000 1,450 Actual $ 40,000 7,500 9,300 10,000 10,676 8,950 1,320 Variance completed in
Telephone Total Payments Balance II. I. 1,450 ▪. Answer the following questions relating to the budget variance report completed in question 5. Which cash receipt had a positive variance? 1,320 Which cash payments had a negative variance? III. Analyse the balance for the variance.
Transcribed Image Text:Telephone Total Payments Balance II. I. 1,450 ▪. Answer the following questions relating to the budget variance report completed in question 5. Which cash receipt had a positive variance? 1,320 Which cash payments had a negative variance? III. Analyse the balance for the variance.
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