Trial balance Pandemic Covid Bhd PARTICULARS DEBIT CREDIT Sales 1,150,000 Inventory 92,200 Purchases 465,000 Distribution costs 238,000 administrative expenses 358,000 Loan interest paid Land and building Plant and machinery 8,000 480,000 159,800 Investment in bonds 40,000 Trade receivables 55,200 Allowances for receivables 5000 Bank 25,000 | 440,000 Ordinary Share capital Retained Earnings 61,000 Bank loan 2,08,000 Ordinary Dividend paid 15,000 Accounts Payable 160,000 Bad debts 4,800 Allowance for doubtful debts 240 Income tax 10,000 Suspense 246,760 Total 2,111,000 2,111,000
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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