Iubesc. Trofinance Company labee Appliance Trading Company Lidinmal company that Appliances. The budget for the forthcoming pria Janary M31.3001 to be prepared species for the formin pied code the following Faperted Setement of Financial sitios 3 Desember 2022 5 ANSETS Ne-A Property Planner (IV) 1. ALSO 0 Current Auto 346, Ace Reo Marleme Cat 12.10 ON 22 EQUITIES AND LIABILITIES Share Accumulated profie 121620 Current Liabilities Acable 10% ked Payable Sales due the company's sales for December 2002 are expected to be and expected that will increase the previst for the que ending March 31, 203 Sales expected to main content Munch 31, 2023 led fie the three . Collections telle sales are typically is er talles. Otunding methodet during the month of sale during the minerale & Cost of goods sold only of all to be adequate of imety had the company attempts to have inventory at the local of the next leve accountry to follow 107. during and parties drm s e. Other monthly expenses: Expense type Salaries Advertising and promotion Depreciation Sales commission 100,000 25,000 60,000 2% of total sales f. Equipment is to be purchased on January 1, 2023 for cash in the amount of $700,000, 3 & The directors have indicated an intention to declare and pay dividends of $120,000 on the last day of each quarter. h. The executives believe that the company should maintain a minimum cash balance of $100,000. If the cash balance in any month is less than $100,000, then the company can borrow to cover the shortfall. Amounts borrowed must be in multiples of $1,000 (for example, $50,000 or $51,000 but not $51.500 or 51,566). The interest rate is 10% per annum. Repayment of principal and interest must be made on the last day of each quarter. i. Tax payable represents 20% of Profit before Tax and will be paid April 30, 2023 (after the end of the first quarter). Required: Prepare the following budgets for Jabez Enterprise by month and the quarter in total for the period ending March 31, 2023 (d) Schedule of cash disbursement to suppliers of products for resale. Labs Trading Appliance Company La Job Appliance Trading Company Ltd is a retail company that the Appliances. The budget for the forthcoming period day to March 1.2025 as to be prepared. Expectations for the forthcoming period include the following: Expected Statement of Financial Posities at 31 December 2222 5 5 ASSETS Non-curred Asta Property Plant and Equipment (NBV) 1.14450 Current Assets In Accounts Receivable Marketable securities Ch 14.00 125.000 30.000 353.000 1.200,00 EQUITIES AND LIABILIATIES Capital Share capital 1.000,00 Accumulated profits 2116 200 1.216.30 Carrot Liabiti Accounts Payable 396.900 10. Bon Payable SK. 91.600 2.300,00 Sales data-the company's cales for December 2003 are expected to be 51.000.000 and it expected that will now by 10% meer the previous oth for the quarter ending Mach 31, 2023. Sules are expected to remain constant at March 31,223 level for the best them Collection - credit sales are typically 20% of total sales. Outstanding amounts from sales are normally collected as follows: during the main of sale 2011 during the month her sale d. Cost of goods sold - this is normally 70% of total sales. To have adequate stocks of inventory on hand, the company attempts to have inventory at the end of each motith equal to half (50%) of the next month's projected cost of goods sold. Inventory is purchased on account and usually settled as follows: i. 40% during the month of purchase ii. 60% during the month after purchase s c. Other monthly expenses Expense type Salaries Advertising and promotion Depreciation Sales commission 100,000 25.000 60,000 2% of tota les 1. Equipment is to be purchased on January 1, 2023 for cash in the amount of $700,000 3 The directors have indicated an intention to declare and pay dividends of $120,000 on the last day of each quarter h. The executives believe that the company should maintain a minimum cash balance of $100,000. If the cash balance in any month is less than $100,000, then the company can borrow to cover the shortfall. Amounts borrowed must be in multiples of $1.000 (for example, $50,000 or 531,000 but not $51.300 or 51,566). The interest rate is 10% per annum. Repayment of principal and interest must be made on the last day of each quarter. 1. Tax payable represents 20% of Profit before Tax and will be paid April 30, 2023 (after the end of the first quarter) Required: Prepare the following budgets for Jaber Enterprise by month and the quarter in total for the period ending March 31, 2023 (d) Schedule of cash disbursement to suppliers of products for resale