A company is expecting to have P 25,000 cash in hand on 1st April 2017 and it requires you to prepare an estimate of cash position in respect of three months from April to June 2017, from the information given below: Month Sales P Purchases P Wages P Expenses P February March April May June 70,000 80,000 92,000 1,00,000 1,20,000 40,000 50,000 52,000 60,000 55,000 8,000 8,000 9,000 10,000 12,000 6,000 7,000 7,000 8,000 9,000 Additional Information: (a) Period of credit allowed by suppliers - two months. (b) 25 % of sale is for cash and the period of credit allowed to customer for credit sale one month. (c) Delay in payment of wages and expenses one month. (d) Income Tax P 25,000 is to be paid in June 2017.
A company is expecting to have P 25,000 cash in hand on 1st April 2017 and it requires you to prepare an estimate of cash position in respect of three months from April to June 2017, from the information given below: Month Sales P Purchases P Wages P Expenses P February March April May June 70,000 80,000 92,000 1,00,000 1,20,000 40,000 50,000 52,000 60,000 55,000 8,000 8,000 9,000 10,000 12,000 6,000 7,000 7,000 8,000 9,000 Additional Information: (a) Period of credit allowed by suppliers - two months. (b) 25 % of sale is for cash and the period of credit allowed to customer for credit sale one month. (c) Delay in payment of wages and expenses one month. (d) Income Tax P 25,000 is to be paid in June 2017.
Chapter7: Budgeting
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- A company is expecting to have P 25,000 cash in hand on 1st April 2017 and it requires you to prepare an estimate of cash position in respect of three months from April to June 2017, from the information given below:
|
Month |
Sales P |
Purchases P |
Wages P |
Expenses P |
|
February March April May June |
70,000 80,000 92,000 1,00,000 1,20,000 |
40,000 50,000 52,000 60,000 55,000 |
8,000 8,000 9,000 10,000 12,000 |
6,000 7,000 7,000 8,000 9,000 |
Additional Information:
(a) Period of credit allowed by suppliers - two months.
(b) 25 % of sale is for cash and the period of credit allowed to customer for credit sale one month.
(c) Delay in payment of wages and expenses one month.
(d) Income Tax P 25,000 is to be paid in June 2017.
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