The following information pertains to X Traders for the three months ended 30 June 2022: . Sales (20% for cash and 80% on credit) Purchases (10% for cash 90% on credit) Salaries and wages paid Cash expenses Depreciation Show Transcribed Text 3 Show Transcribed Text C 3 Actual April R 500 000 360 000 70 000 28 000 2 000 Budgeted May R 540 000 410 000 90 000 32 000 2 000 It is expected that debtors will settle their accounts as follows: 20% in the month of sale 70% in the month after the month of sale, and 5% in the second month after the month of sale Required: Prepare the Cash Budget of X Traders for June and July 2022. June R • The remaining 5% is usually written off as bad debts. 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 incurred. • Expenses are paid as they arise. • The favorable bank balance on 1 May was R30 000. 580 000 450 000 100 000 36 000 2 000

The following information pertains to X Traders for the three months ended 30 June 2022: . Sales (20% for cash and 80% on credit) Purchases (10% for cash 90% on credit) Salaries and wages paid Cash expenses Depreciation Show Transcribed Text 3 Show Transcribed Text C 3 Actual April R 500 000 360 000 70 000 28 000 2 000 Budgeted May R 540 000 410 000 90 000 32 000 2 000 It is expected that debtors will settle their accounts as follows: 20% in the month of sale 70% in the month after the month of sale, and 5% in the second month after the month of sale Required: Prepare the Cash Budget of X Traders for June and July 2022. June R • The remaining 5% is usually written off as bad debts. 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 incurred. • Expenses are paid as they arise. • The favorable bank balance on 1 May was R30 000. 580 000 450 000 100 000 36 000 2 000

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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Required information [The following information applies to the questions displayed below.] Consider the following narrative describing the process of filling a customer's order at a Starbucks branch: Identify the start and end events and the activities in the following narrative, and then draw the business process model using BPMN: the Starbucks customer entered the drive-through lane and stopped to review the menu. He then ordered a Venti coffee of the day and a blueberry muffin from the barista. The barista recorded the order in the cash register. While the customer drove to the window, the barista filled a Venti cup with coffee, put a lid on it, and retrieved the muffin from the pastry case and placed it in a bag. The barista handed the bag with the muffin and the hot coffee to the customer. The customer has an option to pay with cash, credit card, or Starbucks gift card. The customer paid with a gift card. The barista recorded the payment and returned the card along with the…
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