Unadjusted Trial Balance as at 30th June 2019 Debit Credit RM RM Cash at bank 22,320 26,000 8,300 18,400 25,000 Receivables Prepaid insurance Stocks at 1 July 2018 Office equipment Accumulated depreciation 3,800 Office equipment Motor vehicles 57,000 Payables Accrued travelling expenses |Capital Withdrawals 26,700 400 81,900 7000 Net sales 280,900 Net purchases Miscellaneous expense Electricity and water Advertising Rent on office 168,300 1,000 2,600 3,800 5,200 Telephone Salaries 780 48,000 393,700 393,700 Stocks on hand at 30 June 2019 equals RM9,100, Insurance from prepaid insurance account to be expensed RM3,000, Depreciation charge is Office equipment, RM3,000 and motor vehicles, RM4,500.
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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