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Qustrov TuEE Ankuaries L.A. (ii) Sales rexpectively. (iii)40 res of sales...

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Accounting

Qustrov TuEE Ankuaries L.A.
(ii) Sales rexpectively.
(iii)40 res of sales would be in cash. 30, each would be paid in 30 days and 60 days. respectively.
(v)75% of purchases would be paid for imanceliately and the balance in rwo months
(vi) Selling expenses are to be settled in two equal installments in 30 and 60 days. December 2014 expenses are TZS 15,000
(vii) Distribution, expenses are payable one month in arrears while administration expenses are payable imrticdiately.
(viii) Distribution expenses for December 2014 would be TZS 5,000 while selling. expenses would be TZS 8,000 for November 2014 and TZS 9,000 in Deccmber 2014.
(ix) Balance in the bank on 31 December, 2014 is expected to be TZS 28,000 overdrawn.
(x) The company intends to pay for the following:
Company tax of TZS 12,000 in February 2015
A new gencrator costing TZS 6,500 in March 2015
Dividends of TZS 20,000 in April 2015.
(xi)Some unserviceable vehicles would be sold in Jamyary 2015 for T2S 8,000.(xii) The company maintains a minimum cash balarice of TZS 10,000 each month Show all workings.
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