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Can i please get help and can you make private see file attached The information provided below was taken from the accounting records of Canberra

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Can i please get help and can you make private see file attached

image text in transcribed The information provided below was taken from the accounting records of Canberra Ltd for the financial year ended 31 August 2015. Extract of Income Statement for the year ended 31 August 2015 Sales Cost of sales 960 000 480 000 Rent income Salaries and wages 24 000 1.44000 Advertising Taxes and rates Other operating expenses 76 800 2 400 192 000 Additional information: 1. Sales are divided equally each month. Sales are expected to increase by 18% for the financial year ending 31 August 2016. 2. Fifty percent (50%) of the sales are for cash and the balance is on credit. Debtors normally pay their accounts as follows: - 40% in the month of the sale, and these debtors are entitled to a 5% discount; - 55% one month after the sales The balance is usually written off as bad debts. 3. All inventories are priced at cost plus 25%. 4. Inventories are kept at a constant level. All purchases are for cash. 5.In terms of the lease agreement rent is received monthly. The rent for the year ending 31 August 2016 is expected to be 7% more than the previous twelve months. 6. Advertising is paid for monthly and is estimated to be 10% of each month's purchases (inventory). 7. Salaries and wages will increase by 10% with effect from 01 October 2015. 8. Taxes and rates are paid in one instalment for the year during October 2015. Rates are calculated at 90 cents (R0.90) per R100 on the value of the premises. The premises are valued at R1 100 000. 9. Other operating expenses are expected to increase by 6% and are spread evenly throughout the year. Operating expenses are paid for in the month in which they are incurred. 10. On the 31 August 2015 the company's favourable bank balance is R52 000. Required: Prepare each of the following for September and October 2015 from the information provided above: 5.1 Debtors collection schedule. 5.2 Cash budget

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