Budget Travel plans to commence operations on 1 July 2021. The following data and estimates relate to

Question:

Budget Travel plans to commence operations on 1 July 2021. The following data and estimates relate to the three months ending 30 September 2021.

Required
(a) Prepare a monthly cash budget for the three months ending 30 September 2021.
(b) The actual numbers for July are as follows: fees received $4200; computer equipment $8200 cash; cash withdrawals $2600 cash. All other cash budget items matched the budget. Prepare a variance report for July 2021.

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Accounting Business Reporting For Decision Making

ISBN: 9780730369325

7th Edition

Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver, David Bond

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Question Posted: Dec 23, 2022 03:07 AM

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Budget Travel plans to commence operations on 1 July 2021. The following data and estimates relate to

Question:

Initial capital Fees charged (credit) Fees received Computer equipment (cash) Administration Advertising and marketing Cash withdrawals Rent July $32 000 10212 5772 7 659 1221 2775 1332 1776 August $12321 7548 1221 2220 1332 1776 September $16095 11322 1221 1332 1 332 1776

Step by Step Answer:

a b ANTICIPATED RECEIPTS Initial capital Fees received BUDGET TR...View the full answer

Accounting Business Reporting For Decision Making

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