The following are the total sales of Top Class Ltd for the past three months of 2021 Month April May June Total Sales R900 000 R700 000 R500 000 The budgeted sales figures for the next three months are expected as follows Month July August September Total Sales R825 000 R760 000 R920 000 Additional information
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The following are the total sales of Top Class Ltd for the past three months of 2021
Month April May June
Total Sales R900 000 R700 000 R500 000
The budgeted sales figures for the next three months are expected as follows
Month July August September
Total Sales R825 000 R760 000 R920 000
Additional information
1) 40% of all sales are made in cash.
2) Credit sales for October 2021 are expected to be R450 000.
3) Debtors are collected as follows.
• 15% of outstanding amounts are collected during the month following the month of sale
(i.e.: 30 days). A discount of 4,5% is offered for early settlement of accounts.
• 60% is collected in the subsequent month (i.e.: 60 days).
• 20% is collected in the subsequent month (i.e.: 90 days).
• The balance is irrecoverable and needs to be written off.
REQUIRED:
Prepare a schedule of
to 31 October 2021.
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- Projector Limited has the following projection for the 4 months ending August 2018:MayJuneJulyAugustR’sR’sR’sSales320 000380 000420 000460 000Purchases160 000160 000230 000250 000Rent income11 00011 000??Salaries26 80026 800??1. 50% of the sales are for cash and the balance is on credit.2. All credit sales are collected one month after the sale.3. All purchases are on credit. Creditors are paid in full one month after the month of purchase.4. The tenants rent contract stipulates an increase of 20% from 1 July 2018.5. Salaries are expected to increase to R32 000 per month as at 1 August 2018.6. A new motor vehicle will be purchased during June 2017. Repayments of R6 000 per month will commence on 1 July 2017.7. Advertising costs are expected to be 2% of sales from 1 June 2018.8. A fixed deposit of R25 000 will mature in the month of July 2018.9. On 31 May 2018, the bank is expected to have a favourable balance of R420 000.Required:Prepare a Cash Budget for the three (3) months ending…Byanong prepares the cash budget for the month of November 2022. Estimates for the month include the following: Sales P250,000 Gross profit rate 50% Decrease in inventories P 10,000 Increase in accounts payable 15,000 What are the estimated cash disbursements for inventory in November 2022?The following information pertains to Omega Projects Ltd for the three months ended 31 December 2020. Actual Budgeted October November December R R R Revenue (20% for cash and 80% on credit) 360 000 380 000 400 000 Purchases (10% for cash 90% on credit) 240 000 280 000 320 000 Salaries and wages paid 40 000 60 000 60 000 Cash expenses 24 000 28 000 32 000 Depreciation 2 000 2 000 2 000 Additional information: It is expected that debtors will settle their accounts as follows: 20% in the month of invoice 70% in the month after the month of invoice, and 5% in the second month after the month of The remaining 5% is usually written off as bad Trade creditors are paid in the month after the purchases at a discount of 5%. 50% of the salaries and wages are weekly wages. Because wages are paid weekly, usually 10% of the wages are paid in the month following the month in which they were…