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Question:
The accountant of a company is preparing the cash budget for the first six months of 2011 and obtains the following information:
Sales on credit, variable costs and wages are budgeted as follows (the November and December of the previous year being the actual figures for those months):
Fixed expenses amount to Rs 1,500 net per month and the half year's preference dividend of Rs 1,400 net is due on June 30. Corporation tax amounting to Rs 8,000 is payable in January and progress payment under a building contract are due as follows:
March 31st Rs 5,000 and May 31st Rs 6,000.
The terms on which goods are sold are net cash in the month following delivery. Variable costs are payable in the month following that in which they are incurred and are as to 50% subject to 2½% discount, and the balance net. It is found that 75% of debtors to whom sales are made pay within the period of credit and the remainder do not pay until the following month. The company pays all its accounts promptly.
Prepare a cash budget.
Simons Corp has unadjusted net income from continuing operations before tax of $168,000 before the following items were entered in the accounting records in 2013: 1. Unrealized
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Q. Explain In the Money and Out of the Money option? In the Money option - Option granted with an exercise price below market price on grant date Out of the Money option - O
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