Solution-Prepare a Cash budget for the Quarter April To June

Prepare a Cash budget for the Quarter April To June

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Reference no: EM132433036

Question - How to Prepare a Cash budget for the Quarter April To June based on the following data and additional information.

Month	Jan	Feb	March	April	May	June
Sales	60,000	62,000	64,000	58,000	56,000	60,000
Purchase	36,000	38,000	33,000	35,000	39,000	34,000
Wages	9,000	8,000	8,000	8,500	9,000	8,000
Overheads	10,000	9,500	9,500	9,000	9,500	9,000

Additional Information:

1. Cash balance at 1st April is $800,000.

2. Sales is 40% cash sales and 60% is collected in the following month.

3. All purchases of a month are paid after 2 months.

4. Land was purchased in April for $85,000.

5. Wages of a month are paid the following month. All overheads are paid the same month.

6. Loan repaid in May $16,000.

7. Dividend of $75,000 is expected to be received in May.

Reference no: EM132433036

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Prepare a Cash budget for the Quarter April To June

Reference no: EM132433036

Reference no: EM132433036

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