AFK Company is preparing its cash budget for the month of April. The following information is available concerning its inventories: Inventories, April 1 Estimated purchases for April Estimated cost of goods sold for April Estimated payments in April for purchases in March Estimated payments in April for purchases prior to March Estimated payments in April for purchases in April P 90,000 440,000 450,000 75,000 20,000 75%

AFK Company is preparing its cash budget for the month of April. The following information is available concerning its inventories: Inventories, April 1 Estimated purchases for April Estimated cost of goods sold for April Estimated payments in April for purchases in March Estimated payments in April for purchases prior to March Estimated payments in April for purchases in April P 90,000 440,000 450,000 75,000 20,000 75%

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 3PA: Echo Amplifiers prepared the following sales budget for the first quarter of 2018: It also has this...

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Need Help Please Provide answer of General Accounting Question
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Following is Budgeted Data of R Ltd. Prepare Cash Budget for the quarter ended 31st March 2007. Month Sales Purchases Wages Misc.Exps November’06 1,30,000.00 98,000.00 12,000.00 8,000.00 December’06 1,50,000.00 1,10,000.00 15,000.00 9,000.00 January’07 90,000.00 1,14,000.00 9,000.00 7,000.00 February’07 1,26,000.00 1,16,000.00 12,000.00 14,000.00 March’07 98,000.00 85,000.00 8,000.00 7,000.00 Additional Information: - 1. Cash on Hand as on 1st January 2007 is Rs 5,000/-. Sales: - 20% realized in the month of sale, discount allowed 2% and balance is subsequent 2 months. 2. Purchases are paid for in the following month of supply. 3. Wages are 50% in arrears and paid in subsequent month. 4. Miscellaneous Expenses are paid a month in arrears. 5. Rent of Rs 1,000 per month is paid quarterly in advance. 6. Income Tax is due on 15th March 2007 Rs 21,500/-. 7. Interest on…
Subject: accounting