Homework Answers
Answer:
| (a) | Cash to be received in May: | |
| Particulars | Amount ($) | |
| Cash Received for May Sales (50% of current month sales) | 78,750 | |
| (1,57,500*50%) | ||
| Cash Received in May for April Sales (50% of April sales) | 66,750 | |
| (1,33,500*50%) | ||
| Total Cash Collection from customers in May | 1,45,500 | |
| The above is to be disclosed as "Cash receipts from Sales" in the cash budget | ||
| (b) | Cash to be paid in May: | |
| Particulars | Amount ($) | |
| Cash paid in May for May Purchases (40% of current month purchases) | 44,960 | |
| (1,12,400*40%) | ||
| Cash paid in May for April Purchases (60% of April purchases) | 64,200 | |
| (1,07,000*60%) | ||
| Total Cash paid in May for purchases | 1,09,160 | |
| The above is to be disclosed as "Cash payments for purchases" in the cash budget | ||
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II. Problems dget for May. The following forec May Ancil $ 16,000 $157,500 Beginning Loan Balance...
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just need help with #8 (the first three pics) Cash budget. (Negative balances and Loan repayment amounts (if an...
just need help with #8 (the first three pics)
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The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017 ZIGBY MANUFACTURING...
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