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Question based on cash flow budgeting

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Reference no: EM13153503

Question

Cash Flow Budgeting

Using the following information complete the cash flow budget for the months of January, February and March. Be sure to include GST in the rows provided. GST at the end of December 2006 was negative $2500. The cumulative balance in December was $20,234.

Month

Jan

Feb

Mar

Income

 

 

 

Steers

 

$35,000

 

Wheat sales

 

 

$82,500

Salary for silo work

$2,000

$2,000

$2,000

Expenses

 

 

 

Replacement bull

 

 

$1,600

Animal health

 

$206

 

Calf transfers

 

$3,300

 

Chemical

 

 

$8,320

Rates

 

 

$1,300

Fuel and oil

$12,850

 

 

School fees

$2,800

 

 

telephone

 

$300

 

wages

$2,689

$2,689

$2,689

electricity

 

 

$400

Fencing materials

 

 

$5,000

R & M machinery

$550

$550

$550

stationary

$7

$7

$7

R & M building

$142

$142

$142

Bank chargers

 

$130

 

Cash flow budget 6006 -2007

 

Dec-06

Jan-07

Feb-07

Mar-07

income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GST

 

 

 

 

Total income

 

 

 

 

expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GST

GST Liability

Net cash flow

 

 

 

 

Cumulative balance

 

 

 

 

 

Reference no: EM13153503

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