Prepare the Cash flow budget for Gitsalina for December 2 0 2 3 and January 2 0
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Prepare the Cash flow budget for Gitsalina for December and January
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[25] The following information relates to Gitsalina (pty) Itd for the three months from November 2023 to 31 January 2024: Sales (80% on credit) Purchases (25% for cash, 75% on credit) Salaries and other employee benefits Administration expenses Selling and expenses distribution Actual November R 1 200 000 1 000 000 85 000 30 000 10 000 December R Budgeted 1 500 000 1 100 000 95 250 35 000 12 000 January R 1 800 000 1 200 000 110 750 40 000 15 000 Additional information. ● Debtors settle their accounts as follows: 30% in the month of sale, 60% in the month after the month of sale, and 5% in the second month after the month of sale while the remaining 5% are considered as bad debts. [25] The following information relates to Gitsalina (pty) Itd for the three months from November 2023 to 31 January 2024: Sales (80% on credit) Purchases (25% for cash, 75% on credit) Salaries and other employee benefits Administration expenses Selling and expenses distribution Actual November R 1 200 000 1 000 000 85 000 30 000 10 000 December R Budgeted 1 500 000 1 100 000 95 250 35 000 12 000 January R 1 800 000 1 200 000 110 750 40 000 15 000 Additional information. ● Debtors settle their accounts as follows: 30% in the month of sale, 60% in the month after the month of sale, and 5% in the second month after the month of sale while the remaining 5% are considered as bad debts.
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To prepare a cash flow budget for Gitsalina for December 2023 and January 2024 we will consider the budgeted amounts for each month along with the provided additional information about how debtors set... View the full answer
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078025655
7th edition
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
Posted Date:
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