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Question five 21/12/2009 was as follows: You come across the following information about transactions during...

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Accounting

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Question five 21/12/2009 was as follows: You come across the following information about transactions during the first three months of 2010. 1 Cash from Receivables is expected in the month following the month of sale. 2 A new fixed asset worth K145 million was leased for a quarterly rental of K25 millic payable every end of a quarter. The first rental is due end of 31 March 2010. 3 Monthly salaries and wages are K 4500000 and are payable monthly. 4 Trade payables have to be paid after two months. Thus December 2009 trade payabl are payable in February 2010 in full. 5 Tax is payable in January 2010 and so are accrued expenses. 6. Goods are purchased on credit monthly and paid for a after two months. 7. Half of the long term loan is payable at the end of March 2010. Required (a) Prepare a cash budget for the first quarter of 2010 (b) Why is the cash budget important for an organization whether that organization is the public sector or private sector

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