Prepare a Cash budget for the Quarter April To June based on the following data and...

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Prepare a Cash budget for the Quarter April To June based on the following data and additional information. Month Sales($) Purchase($) Wages($) Overheads($) Jan 70,000 38,000 7,000 12,000 Feb 52,000 40,000 8,000 5,500 Mar 59,000 42,000 10,000 13,500 Apr 63,000 44,000 11,500 7,400 May 56,000 46,000 9,000 9,500 Jun 65,000 48,000 8,000 9,000 Additional Information : 1. Cash balance at 1st April is $720,000 2. Sales is 30% cash sales and 70% is collected in the following month. 3. All purchases of a month are paid after 2 months. 4. Land was purchased in April for $105,000 5. Wages of a month are paid the following month. All overheads are paid the same month. 6. Loan repaid in May $56,000 Prepare a Cash budget for the Quarter April To June based on the following data and additional information. Month Sales($) Purchase($) Wages($) Overheads($) Jan 70,000 38,000 7,000 12,000 Feb 52,000 40,000 8,000 5,500 Mar 59,000 42,000 10,000 13,500 Apr 63,000 44,000 11,500 7,400 May 56,000 46,000 9,000 9,500 Jun 65,000 48,000 8,000 9,000 Additional Information : 1. Cash balance at 1st April is $720,000 2. Sales is 30% cash sales and 70% is collected in the following month. 3. All purchases of a month are paid after 2 months. 4. Land was purchased in April for $105,000 5. Wages of a month are paid the following month. All overheads are paid the same month. 6. Loan repaid in May $56,000

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Cash budget for the quarter Apr to June Particulars April May June Cash balance at the beginning of ... View the full answer