АCTIVITYFrom the following information obtained from the books of Maruti LLC, prepare cash budget forthe quarter ending 30h June 2020.Sales (OMR)80,000Purchase (OMR) Wages (OMR)Expenses (OMR)5,000MonthJanuaryFebruaryMarch45,00020,00018,00022,00024,00080,00040,00042,0006,0006,000AprilMayJune80,00090,00085,00080,00050,00045,00035,0007,00020,00018,0006,0005,000Special information1. Advance payment of income tax in May OMR 4,000.2. Purchase of plant in April OMR 10,0003. Rent OMR 300 payable each month4. 10% of purchase and sales are in cash terms5. Credit purchases are paid after one month and credit sales are collected after 2 months6. Time lag in wages and expenses ½ month7. Cash and bank balance on April 1st OMR 13,000

Cash budget is the one which is prepared to estimate the receipts and expenses for the future…

АCTIVITY From the following information obtained from the books of Maruti LLC, prepare cash budget for the quarter ending 30 June 2020. Sales (OMR) 80,000 Purchase (OMR) Wages (OMR) 20,000 18,000 22,000 24,000 Expenses (OMR) 5,000 Month January February March 45,000 40,000 42,000 80,000 80,000 90,000 6,000 6,000 April May 50,000 45,000 35,000 7,000 85,000 80,000 20,000 18,000 6,000 June 5,000 Special information 1. Advance payment of income tax in May OMR 4,000. 2. Purchase of plant in April OMR 10,000 Rent OMR 300 payable each month 4. 10% of purchase and sales are in cash terms 5. Credit purchases are paid after one month and credit sales are collected after 2 months 6. Time lag in wages and expenses ½ month 7. Cash and bank balance on April 1s OMR 13,000

АCTIVITY From the following information obtained from the books of Maruti LLC, prepare cash budget for the quarter ending 30 June 2020. Sales (OMR) 80,000 Purchase (OMR) Wages (OMR) 20,000 18,000 22,000 24,000 Expenses (OMR) 5,000 Month January February March 45,000 40,000 42,000 80,000 80,000 90,000 6,000 6,000 April May 50,000 45,000 35,000 7,000 85,000 80,000 20,000 18,000 6,000 June 5,000 Special information 1. Advance payment of income tax in May OMR 4,000. 2. Purchase of plant in April OMR 10,000 Rent OMR 300 payable each month 4. 10% of purchase and sales are in cash terms 5. Credit purchases are paid after one month and credit sales are collected after 2 months 6. Time lag in wages and expenses ½ month 7. Cash and bank balance on April 1s OMR 13,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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