Question

Hobby Gardens is a garden design and landscaping business. At 30 June 2021, it had a bank balance of $666,100. Provided below are estimates for receipts and payments for the three months ending 30 September 2021. July 2021 August 2021 September 2021 $ $ $ 233,000 311,600 248,800 Receipts Fees Proceeds from the sale of surplus non-current assets 0 이 388,400 Payments Salaries and wages Supplies New equipment Purchase of plants 87,800 6,500 76,600 5,300 0 86,000 6,400 330,500 87,300 0 88,200 86,800 Required: Prepare a monthly cash budget for the three months ending 30 September 2021. Important: • If you think the amount in a cell should be 0, type 0 - don't leave that cell empty. • For any amounts, please don't include the dollar sign ($) or any thousands separator - i.e., $12,000 should be written as 12000. • For payments, please don't include the - (minus) sign in front of the amounts and also don't place the amounts in parentheses. • The - (minus) sign should only be used in front of any amounts that are negative in the last three rows of the cash budget (i.e., Excess/deficit receipts over payments, Bank balance at beginning of month, Bank balance at end of month) - don't place the negative amounts in parentheses. Cash budget for three months ended 30 September 2021 July 2021 $ August 2021 September 2021 $ $ ANTICIPATED RECEIPTS Fees Sale of surplus non-current assets Total receipts ANTICIPATED PAYMENTS Salaries and wages Supplies New equipment Plants Total payments Excess/Deficit receipts over payments Bank balance at beginning of month Bank balance at end of month

Answer 1

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