about accounting Budgeting.

Canine will open a new retail outlet called Feline in 2021. This company will sell basic cat food. The following information is available for January to March next year. Sales Purchases Jan Feb Mar 8,000 16,000 24,000 2,400 4,800 7,200 In addition: 1. 40% of sales are for cash and will attract a 10% discount; the remaining sales are on two months credit. 2. All purchases are paid in full in the month of purchase. 3. Rent of 1,500 is payable quarterly in advance 4. Utilities of 1,000 per month are payable quarterly in arrears. 5. A van is to be bought for 8,000 in January and will depreciated at 100 per month. 6. Wages and salaries will be 3,000 per month. 7. The opening cash balance will be 15,000. 15 marks 4d) Construct the cash budget (using a table) for Feline for the 3 months January - March 2021 Jan Feb Mar 3 marks 4e) With reference to your answer in 4e), discuss how budgets support 'Forward thinking'. (type in this box)