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Prepare cash budget. * 20 points Prepare Cash Budget of a company for April, May...

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Accounting

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Prepare cash budget. * 20 points Prepare Cash Budget of a company for April, May and June 2019 in a columnar form using the following information: Month Sales Purchase Wage Exp. Jan. (Actual) 80,000 45,000 20,000 5,000 Feb. (Actual) 80,000 40,000 18,000 8,000 March (Actual) 75,000 42,000 22,000 6,000 April Budget 90,000 50,000 24,000 6,000 May Budget 85,000 45,000 20,000 6,000 June Budget 80,000 35,000 18,000 5,000 You are further informed that (a) 10% of purchase and 20% of Sale are for cash (b) The average collection period of the Co. is 1/2 month and credit purchase is paid off regularly after one month (c) Wages are paid half monthly and the rent of $500 excluded in expense is paid monthly (d) Cash and Bank Balance on April 1, was $15,000 and the company wants to keep it on end of every month below this figure, the excess cash being put in fixed deposits Your

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