Question 3Expected sales for the upcoming five months (May - September, 2023) in "GGG"company is as follows.MonthsMayAmount ROJune?July?August??*Assume any five values from RO 100,000 to RO 200,000 and the usedvalues must not be used by other groups.Sales policy is to receive 33% per cent of the sales in cash at the same monthof sale, and the remaining 66% per cent in the next month. The purchases costis expected to be 66% per cent of each month sales and is paid completely amonth after the purchases.September?Other cash incomesRent to be received RO 2500 in June and RO 6000 in August 2024.Loan is expected to be borrowed in June RO 12,500.Interest is to be received RO 5,800 on June and RO 3,750 in August 2023.Other expenses:Wages 33.33 % of each month sale is paid in the same month.Rent RO 17,000 paid on April and RO 12,000 on July.Taxes RO 11,500 to be paid in two equal parts in June and September.Other Miscellaneous RO 5,000 is paid monthlyOpening balance for May is RO 24,000.Prepare the Cash Budget with comments for the moths from May to Julyof 2023.

Cash collection from sales on accounts:Schedule of expected cash…

Question 3 Expected sales for the upcoming five months (May - September, 2023) in "GGG" company is as follows. Months May Amount RO September ? June ? July ? August ? ? *Assume any five values from RO 100,000 to RO 200,000 and the used values must not be used by other groups. Sales policy is to receive 33% per cent of the sales in cash at the same month of sale, and the remaining 66% per cent in the next month. The purchases cost is expected to be 66% per cent of each month sales and is paid completely a month after the purchases. Other cash incomes Rent to be received RO 2500 in June and RO 6000 in August 2024. Loan is expected to be borrowed in June RO 12,500. Interest is to be received RO 5,800 on June and RO 3,750 in August 2023. Other expenses: Wages 33.33 % of each month sale is paid in the same month. Rent RO 17,000 paid on April and RO 12,000 on July. Taxes RO 11,500 to be paid in two equal parts in June and September. Other Miscellaneous RO 5,000 is paid monthly Opening balance for May is RO 24,000. Prepare the Cash Budget with comments for the moths from May to July of 2023.

Question 3 Expected sales for the upcoming five months (May - September, 2023) in "GGG" company is as follows. Months May Amount RO September ? June ? July ? August ? ? *Assume any five values from RO 100,000 to RO 200,000 and the used values must not be used by other groups. Sales policy is to receive 33% per cent of the sales in cash at the same month of sale, and the remaining 66% per cent in the next month. The purchases cost is expected to be 66% per cent of each month sales and is paid completely a month after the purchases. Other cash incomes Rent to be received RO 2500 in June and RO 6000 in August 2024. Loan is expected to be borrowed in June RO 12,500. Interest is to be received RO 5,800 on June and RO 3,750 in August 2023. Other expenses: Wages 33.33 % of each month sale is paid in the same month. Rent RO 17,000 paid on April and RO 12,000 on July. Taxes RO 11,500 to be paid in two equal parts in June and September. Other Miscellaneous RO 5,000 is paid monthly Opening balance for May is RO 24,000. Prepare the Cash Budget with comments for the moths from May to July of 2023.

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 1R: Ranger Industries has provided the following information at June 30: Other information: Average...

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Question 3 Expected sales for the upcoming five months (March - July, 2023) in "GBB" company is as follows. Months March April 44,000 May 50,000 June 56,000 Amount RO 40,000 Sales policy is to receive 35% of the sales in cash at the same month of sale, and the remaining 65% in the next month. Purchases cost is expected to be 60% of each month sales and is paid completely a month after the purchases. Other cash incomes July 60,000 Rent to be received RO 1000 in June and RO 3000 in August Loan is expected to be borrowed in June RO 5,000. Interest is to be received RO 2,500 on June and RO 1,500 in August Other expenses: Wages 30 % of each month sale is paid in the same month. Rent RO 7,000 paid on April and RO 5,000 on July. Taxes RO 4,000 to be paid in two equal parts in June and September. Other Miscellaneous RO 1,500 is paid monthly Opening balance for May is RO 6, Prepare the Cash Budget for the second quarter of 2023 (May-July).
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