Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Prepare a cash budget
The following information appeared on the balance sheet of XYZ Ltd at 30 June 2012:
Accounts receivable 80 000
Bank overdraft 12 000
Accounts payable 100 000
Provision for income tax (payable in July) 10 000
Provision for dividends (payable in August) 20 000
Prepaid rent 2 000
Estimated sales and purchases figures for July and August are as follows:
July August
Sales 200 000 150 000
Purchases 124 000 96 000
Cash sales usually represent 50% of total sales, with 25% of credit sales collected in the same month as the sale, and the remainder in the following month. Bad debts are so small that they can be ignored.
The company purchases inventory on credit, with all payments made in the month after purchase.
Other information:
Required
Prepare a cash budget for the months of July and August 2012 (you are not required to show a total column for the two month period).
Petition by creditor Any creditor including an assignee of a debt, may petition, provided: The debt due to him amounts to at least Shs 1,000; The debt is certain and i
what are the activities?
Question: (a) ‘Public accounting is often called fund accounting'. Describe what you understand by the term ‘fund accounting'. (b) "What's the difference between nation
Activity-Based Costing (ABC) An accounting method that assigns identifiable costs and allocates common costs to definite product lines or business fragments Also known as pro
Compute the present value of Rs. 1000 receivable 6 years thus if the discount rate is 10 percent. Solution: The present value is computed as follows: PV kn = FV n . PVIF k,n
Sigma is thinking about purchasing a new clam digger for $14,000. The expected net cash flows resulting from the digger are $9,000 in year 1, $7,000 in year 2, $5,000 in year 3, an
Sleek Ride, a company providing limo services, has a December 31 year-end date. For Sleek Ride, the following transactions occurred during the ?rst 10 days of June: a. Purchased, o
The following facts pertain to a noncancelable lease agreement between Lennox Leasing Company and Gill Company, a lessee. Inception date: May 1, 2012 Annual lease payment due at th
Q. What are the Organization Expenditures? Organization Expenditures -Costs of organizing a business or trade or for profit activity before it begins active business. A taxpaye
Define the term Relevance - accounting information Accounting information should have the ability to influence decisions. Except this characteristic is present, there is ac
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd