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A Letter to the Bank Manager

In: Business and Management

Submitted By groovyn
Words 292
Pages 2
Sales expenses | Wages | Purchase | Sales | Month 2015 | 2500 | 10500 | 90,000 | 100,000 | Feb | 2600 | 11000 | 100,000 | 110,000 | March | 2000 | 7000 | 110,000 | 60,000 | April | 3000 | 10500 | 115,000 | 120,000 | May | 2200 | 8500 | 90,000 | 80,000 | June |
From the following data forecast for cash position at the end of April, May and June 2014

Further information 1- Sales at 10% in the month of sales, balance equally realized in the 2 subsequent month 2- Purchases : creditors are paid in the month following the month of supply 3- Wages : 20% paid in arrears in the following month 4- Sales expenses paid in the month itself 5- Income tax 30,000 payable in June 6- Dividend 12,000 payable in june 7- Income from investment 5,000 received half yearly in March and Sept 8- Cash Balance on Hand as of 1-4-15 is 50,000
Answer : Particular | Feb | March | April | May | June | Opening cash balance | | | 50,000 | 40700 | 6400 | + receive of cash (a)(inflow)*please see below the table the working note | | | | | | | | | 6000 | 12000 | 8000 | Sales | | | 94500 | 76500 | 81000 | Total Received | | | 150500 | 129200 | 95400 | | | | | | | | | | | | | * Payments (b) | | | | | | Creditors for purchase | | | 100,000 | 110,000 | 115000 | Wages 80% current | | | 5600 | 8400 | 6800 | Wages 20% arrears | | | 2200 | 1400 | 2100 | | | | | | | Sale expenses | | | 2000 | 3000 | 2200 | Income tax | | | | | 30000 | Dividend | | | | | 12000 | Total (b) | | | 109800 | 122800 | 168100 | Closing clash balance (a)-(b) | | | 40,700 | 6400 | -72700 |

Below in only A working note to explain how to calculate the sales based on the instruction provided in the questions.

*Working Note for Sales | 100000 | 110000 | 60000 | 1200000 | 80000 |…...

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