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Prepare a cash budget for the month of March

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Reference no: EM132823083

Question - The following information is provided to assist in the preparation of the Cash Budget for Valerina for March 2021.

The cash balance at 1 March 2021 is $25,000.

Budgeted Sales ($) Budgeted Purchases ($)

October 170,000 64,000

November 140,000 68,000

All sales are collected in the same month the sale is made.

All purchases are made on credit and payments are made as follows: 60% of purchases are paid for in the month of purchase.

40% of purchases are paid for in the month following the purchase.

The business plans to take out a small business loan of $50,000 at the end of March 2021 and will start to repay it back in April 2021.

Selling and administrative expenses each month are $45,000.

The selling and administrative expenses include monthly depreciation expense of $9,000.

The business plan to expand the business by opening a new store in Burwood, VIC, in May 2021.

A rental deposit of $5,600 is to be made in March 2021.

Required - Prepare a cash budget for the month of March 2021.

Reference no: EM132823083

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