The members of Networx Ltd decide to prepare a Cash Budget for November and December 2024. The following information is available:
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- The members of Networx Ltd decide to prepare a Cash Budget for November and December 2018. The following information is available:Actual BudgetedAugust RSeptember ROctober RNovember RDecember RSales:CashCredit194 500287 300235 700350 000275 000410 000250 500400 400368 000697 000Purchases 510 000 490 000 495 000 520 000 680 000Salaries & Wages 72 600 72 600 72 600 72 600 72 600Sundry Expenses 17 800 18 400 22 000 22 600 25 700 Required:Prepare a Cash Budget for the period 1 November and 31 December 2018how about these 3 requirments Prepare a direct materials budget for the first quarter of the financial year ending 30 September 2022. Prepare a cash budget for the first quarter of the financial year ending 30 September 2022 including any necessary schedules. Prepare a budgeted income statement for the first quarter of the financial year ending 30 September 2022.Hello. Help me to solve sub part (d) and (e) from this question
- Do not use chatgpt.OBJECTIVE 3 СМА Problem 8.39 Cash Budget Friendly Freddie's is an independently owned major appliance and electronics discount chain with seven stores located in a Midwestern metropolitan area. Rapid expansion has created the need for careful planning of cash requirements to ensure that the chain is able to replenish stock adequately and meet payment schedules to creditors. Fred Ferguson, founder of the chain, has established a banking relationship that provides a $200,000 line of credit to Friendly Freddie's. The bank requires that a minimum balance of $8,200 be kept in the chain's checking account at the end of cach month. When the balance goes below $8,200, the bank automatically extends the line of credit in multiples of $1,000 so that the checking account balance is at least $8,200 at month-end. Friendly Freddie's attempts to borrow as little as possible and repays the loans quickly in multiples of S1,000 plus 2 percent monthly interest on the entire loan balance. Interest…Prepare cash budgets for August, September, and October, 201A, based on the above data and supported bythe following schedules:a. Cash receipts from accounts receivable b. Purchases of inventory c. Cash disbursements on accounts payable d. Cash disbursements on selling and administrative expensese. Cash budget
- Prepare the following three-months (January to March 2021) budget as required by the bankers. The Cash Collection Schedule for sales The Cash Payment Schedule for purchases The budgeted income statement The budgeted statement of financial position/ Balance Sheet The cash budgetUse the information provided below to prepare the Cash Budget for October, November, and December2021. Provide separate monetary columns for each month.INFORMATION1. The following data and estimates are available for a project of Fego Limited for September toDecember 2021:September October November DecemberR R R RSales 130 000 110 000 120 000 140 000Wages 40 000 34 000 38 000 39 000Fixed overheads 16 000 16 000 16 000 16 000Variable overheads 16 000 13 000 15 000 17 000Materials purchases 17 000 14 000 16 000 18 0002. Sixty percent (60%) of the sales are expected to be for cash and the balance on credit. Creditcustomers usually pay in the month after the sale.3. Labour costs are paid for in the month in which they are incurred.4. Fixed overheads include R5 000 each month for depreciation and payment is made monthly.5. Variable overheads are paid for in the month after they are incurred.6. Direct materials are purchased by electronic funds transfers each month.7. The cash balance on 01…SWEET ROYALE INC. Given the following information, construct a Cash Budget for Sweet Royale Inc. for the third quarter of 2023. i) Sales forecasts for the company from April through November 2023: April RM600,000 August RM310,000 May RM650,000 September RM250,000 June RM450,000 October RM860,000 July RM350,000 November RM900,000 The sales are 25% on cash basis and 75% on credit. Collections on credit sales are as follows: 60% are collected within the first month after-sales. 35 % are collected within the second month after-sales 5% are uncollectible iv) Raw materials are purchased two months before sales based on a credit term of 5/35 net 65 and are paid one month after purchase. Purchases are 60% of sales. v) Operating expenses are estimated at: Salaries and wages of RM45,000 every month. Rental of RM5000 every month. Utility amount to 2% of the current month's total sales. vi) The corporate tax is RM35,000 and will be paid in September. vii) The company allocates RM5000 as…
- A product manager has responsibility for a single product and is in the process ofsubmitting data to be compiled into budgets for 2019. The manager has performancetargets set in relation to sales volume, profitability levels and a target cash surplus from the product.Shown below are the agreed budgeted sales for the product for December 2018 toMay 2019.Dec Jan Feb Mar April MayUnits 14,000 16,000 22,000 17,000 20,000 24,000The company policy is that, at each month end, the closing stock of finished goods shouldbe 25% of the following month’s forecast sales and the stock of raw material should besufficient for 10% of the following month’s production. Stock levels currently conform tothis policy. One unit of raw material makes one unit of finished stock, there is no wastage.Raw material purchases are paid for during the month following the month of purchase. All other expenses are paid for as incurred. All sales are made on credit and the companyexpects cash receipts for 50% of sales in…REQUIRED Use the information given below to answer the following questions: Prepare the Cash Budget for January, February and March Comment on the cash position of the company for the budgeted INFORMATION Some of the items in the Statement of Financial Position as at 31 December 2021 of Lomax Ltd are as follows: Current assets R Accounts receivable 1 300 000 Bank 235 000 Current liabilities Accounts payable (for material purchases) 95 000 Other current liabilities 700 000 The following forecasts have been made by Lomax Ltd for the first three months of 2022 for the bricks that it produces which are sold in pallets (with each pallet comprising 500 bricks): The sales manager anticipates the following credit sales: January February March 2 160 pallets 2 340 pallets 2 250 pallets The bricks are sold at a constant price of R500 per pallet. Ten percent (10%) of the sales are for cash and the rest is on credit. Debtors…A company has prepared the operating budget and the cash budget. It is now preparing the budgeted balance sheet. Identify the document that contains each of these balances. A. cash B. accounts receivable C. finished goods inventory D. accounts payable E. equipment purchases
