APCS A AaB ACC www 36 Strony om 11sp Hest Heading 2 Sam Copy yas SECTION B ANSWER ALL QUESTIONS IN THIS SECTION QUESTION B1 VINATOYS Lid start business at the 1 of Jan 2521 with share capital of 110,000. They also take a long term loan of 180,000 and commitment to pay equally 8,000 each month (include interest) The loan interest for the first quarter is 5,000 Sale are expected to be as follows. Feb So Emplus r 240,000 300,000 60% of sale are for cash. The remainder of sales will be collected 1 month later. To beginning business, VINATOYS buy 108,000 and pay 100% in January. Further invertory is purchased at 50% of sales each month. Suppliers are paid 1 month later. The dosing invertory should be 135,000 1 Wages are forecasted to be 20,000 per month, payable in the month they are incurred Overheads excluding depreciation are forecast to be 140,000 per month and paid in the month they are incurred. Rent is 80,000 per year payable annually in advance Equipment will be deprecated at 10% of cost per year and company will spend 150,000 on equipment THG 7 29 Required: 1. Prepare sales budget and cash collections from sales for each month of 1" quader (5 marks) 2. Prepare cash dicbushment for inventory each month and 15 quader New conversation (6 marks) 3. Prepare master budget for VINATOYS at the end of 10 quarter (Cashflow statement Income statement and Balance sheet) (18 marks) Total: 30 marks 1 tv Ho WPC Ning- 2

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