Question. N 4 Cash Budget: From the following particulars make out a cash budget of...
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Question. N 4 Cash Budget: From the following particulars make out a cash budget of Ammar Ltd, from October to December tot Months Sales Purchases AED Wages & Expenses AED 100000 150000 AED July300000 Augustp50000 September 100000 October600000 November 450000 50000 70000 64000 b00000 B00000 B0000 250000 72000 December500000 200000 60000 Other Information: a. Credit allowed to customers for two months and from creditors one month b. Lag in payment of wages and expenses 4 month; c. Advance tax is to be paid in November AED 25,000 d. Insurance @ AED 5000 payable in every month which is not included in the above "Wages and Expenses e. Machinery purchased in December amounted to AED 150,000 f. 10% sales and purchases are made for cash g. Selling commission is payable @5% on sales payable in the month following the month of collection h. The bank balance on 1st October is AED 100,000
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