Prepare a cash budget for the month of december

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Reference no: EM133379604

Question: As a manager of a company, you are required to complete a cash flow forecast. You have been provided with some assets and liabilities of a manufacturing company. Prepare a cash budget for the month of December and January based the figures given in the table. Your cash flow forecast will predict the bank balance at the end of each month.
Item December January
Cash balance 5000 ?
Cash sales 24000 28000
Account receivable 10000 ?
Assets sales 4000 2000
Salaries and benefits 15000 12000
Account payable 3000 3000
Operating cost 8000 8500
Purchases 4000 4500
Loan payment 1000 1000
GST payable on sale ? ? Interest paid by bank 1000 0
on deposits

Your company is receiving 75% of the sale amount in the same month and rest 25% in the next month. Company is collecting GST @ 13%, which has to paid to government

Reference no: EM133379604

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