Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me i will give good rating Razali intends to run a laundry shop on 1 January 2020 with an initial capital of RM32,480

Please help me i will give good rating

image text in transcribed

Razali intends to run a laundry shop on 1 January 2020 with an initial capital of RM32,480 consisting of: RM Cash in bank 1 980 Cash in hand 500 Machine 30,000 Razali plans to apply for a loan of RM12,000 in February 2020 at an interest rate of 8% per annum. The loan will be repaid monthly for 4 years, starting the following month. The estimated receipts and payments for his business are as follows: 1) Revenue from laundry services for January 2020nwas RM8,900. This revenue is expected to increase 10% each month from the following month. ii) The total purchase of detergents by month is as follows: RM January 1,500 February 1,800 March 2,160 60% of the purchase of detergent will be paid in cash and the balance will be paid in the following month. iii) The monthly rent is RM1,200. iv) Utility budget RM January 860 February 970 March 1,120 v) The business plans to buy five units of dryers and two units of washing machines at a total cost of RM40,000 in March. An advance payment of 60% will be made and the balance paid in full in the following month. Required: On behalf of Razali, prepare a cash budget for the three months ending 31 March 2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting

Authors: Les Heitger, Pekin Ogan, Serge Matulich

2nd Edition

053881764X, 978-0538817646

Students also viewed these Accounting questions

Question

For the circuit in Fig. 9.73, calculate ZT and Vab. 20 ab 40 5

Answered: 1 week ago

Question

18-2. Cul es el propsito de un anuncio institucional ?

Answered: 1 week ago

Question

Create a Fishbone diagram with the problem being coal "mine safety

Answered: 1 week ago

Question

=+a. Can the reader find the most important message?

Answered: 1 week ago