CurryMee Berhad projected sales and purchases for the month of September to December 2022 as below: 2022 September October Required: November December Purchases (RM) 12,000 14,000 13,000 14,000 Sales (RM) 17,000 22,000 18,000 14,000 Wages of RM1,500 are paid in the month that they are incurred. Overhead expenses of RM1,200 is due each month and these are paid one month in arrears. On 1 November 2022, the company plan to buy a second-hand van for RM18,000. Sales are all on credit and the company policy is to allow a 30-day credit period. Half of the purchases are on credit and the length of credit period allowed is a month. The other half of the purchases are for immediate settlement. The balance at the bank as of 1 October 2022 is RM25,000. 1 Q1) give a cash budget for the 3-month period ending 31 December 2022.

CurryMee Berhad projected sales and purchases for the month of September to December 2022 as below: 2022 September October Required: November December Purchases (RM) 12,000 14,000 13,000 14,000 Sales (RM) 17,000 22,000 18,000 14,000 Wages of RM1,500 are paid in the month that they are incurred. Overhead expenses of RM1,200 is due each month and these are paid one month in arrears. On 1 November 2022, the company plan to buy a second-hand van for RM18,000. Sales are all on credit and the company policy is to allow a 30-day credit period. Half of the purchases are on credit and the length of credit period allowed is a month. The other half of the purchases are for immediate settlement. The balance at the bank as of 1 October 2022 is RM25,000. 1 Q1) give a cash budget for the 3-month period ending 31 December 2022.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 11EB: Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase,...

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