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Provision for depreciation on furniture and fittings 49,000 Trade Payables 24,000 Operating expenses incurred in April 2021 30,000 Accumulated Retained Earnings at 30 April 2021 60,000 Trade Receivables 11,500 Cash at Bank at 30 April 2021 27,500 Additional information- 0) Trade payables value for the next 3ths are expected to be as follows May $25,000, June $23,000 and July $26,000 Operating expenses is expected to increase by 10% from that of April 2021 and this is projected to increase at the same growth rate up to July 2021 16) Sales is projected to grow by 15% every month from Apr sales. iv) The trade receivables figure is desired to be proportional to the sales values. x) Depreciation is provided at the rate of 5% per annum using reducing balmce method of non-current assets. 11) Closing inventory is expected to increase by $1,000 in May from Apr levels. This is expected to increase by the same figure in lume from the projected figure in May. It is expected that in July closing inventory is desired to be $13,000 vii) The company makes a profit of 25% on its sales (OPM) REQUIRED. As a consultant for ABC Liuted, report for their Bankers, budgeted statements below, for each individual months May, June and July A) The Budgeted Statement of Comprehensive Income b) The Budgeted Statement of Financial Position The Cash Budget (4 mark) Duc TWO (2) ag TWO () of Bay Connd y taak (TOTAL 24 maki) Po DELL D 9 AFULANI Display QUESTION 2 I ABC Limited one of the retails honey-based products to traders in United States. The company has approached its Bankers to provide funding for next year's operations and three months imaster budget has been requested for review by the bankers. You have been approached by the management as a consultant to prepare the 1st quarter budget for the banker's consideration for its next year's operations. Company's Accounting year ends on 30th April 2021. Total (S) Sales recorded in April 2021 200,000 Closing Inventory at 30th April 2021 10,000 Furniture and Fittings at cost 349,000 Display Settings Foo Focus DELL Ac Go Provision for depreciation on furniture and fittings 49,000 Trade Payables 24,000 Operating expenses incurred in April 2021 30,000 Accumulated Retained Earnings at 30 April 2021 60,000 Trade Receivables 11,500 Cash at Bank at 30 April 2021 27,500 Additional information- 0) Trade payables value for the next 3ths are expected to be as follows May $25,000, June $23,000 and July $26,000 Operating expenses is expected to increase by 10% from that of April 2021 and this is projected to increase at the same growth rate up to July 2021 16) Sales is projected to grow by 15% every month from Apr sales. iv) The trade receivables figure is desired to be proportional to the sales values. x) Depreciation is provided at the rate of 5% per annum using reducing balmce method of non-current assets. 11) Closing inventory is expected to increase by $1,000 in May from Apr levels. This is expected to increase by the same figure in lume from the projected figure in May. It is expected that in July closing inventory is desired to be $13,000 vii) The company makes a profit of 25% on its sales (OPM) REQUIRED. As a consultant for ABC Liuted, report for their Bankers, budgeted statements below, for each individual months May, June and July A) The Budgeted Statement of Comprehensive Income b) The Budgeted Statement of Financial Position The Cash Budget (4 mark) Duc TWO (2) ag TWO () of Bay Connd y taak (TOTAL 24 maki) Po DELL D 9 AFULANI Display QUESTION 2 I ABC Limited one of the retails honey-based products to traders in United States. The company has approached its Bankers to provide funding for next year's operations and three months imaster budget has been requested for review by the bankers. You have been approached by the management as a consultant to prepare the 1st quarter budget for the banker's consideration for its next year's operations. Company's Accounting year ends on 30th April 2021. Total (S) Sales recorded in April 2021 200,000 Closing Inventory at 30th April 2021 10,000 Furniture and Fittings at cost 349,000 Display Settings Foo Focus DELL Ac Go