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The following information relates to Household Enterprises. The bank balance on 3 0 October 2 0 2 0 was R 2 4 0 0 0
The following information relates to Household Enterprises. The bank balance on October was Rfavourable Actual and budgeted sales are as follows: Credit sales are normally collected as follows: one month after sale. two months after the sale. The rest is usually written off as bad debts. The cash sales for December are expected to be greater than the cash sales for November. REGENT BUSINESS SCHOOL RBS JULY BACHELOR OF COMMERCE IN ACCOUNTING YEAR ACADEMIC AND ASSESSMENT CALENDAR RICH DISTANCE Purchases are expected to be as follows: Creditors are paid one month after the month of purchase. The monthly salaries amount to Salaries are expected to increase by with effect from December Interest at per annum on the loan balance of is paid monthly. A repayment of R will be made on December Part of the building is sublet to a tenant. The lease agreement for the year ended November reflected the rental amount of R per month. The rental will increase by on December Other cash operating expenses amounted to R for October These expenses are expected to increase by R each month. Required: Prepare the debtors collection schedule for November and December Prepare the cash budget for November and December
The following information relates to Household Enterprises.
The bank balance on October was Rfavourable
Actual and budgeted sales are as follows:
Credit sales are normally collected as follows:
one month after sale.
two months after the sale.
The rest is usually written off as bad debts.
The cash sales for December are expected to be greater than the cash
sales for November.
REGENT BUSINESS SCHOOL RBS JULY
BACHELOR OF COMMERCE IN ACCOUNTING YEAR ACADEMIC AND ASSESSMENT
CALENDAR RICH DISTANCE
Purchases are expected to be as follows:
Creditors are paid one month after the month of purchase.
The monthly salaries amount to Salaries are expected to increase by
with effect from December
Interest at per annum on the loan balance of is paid monthly. A
repayment of R will be made on December
Part of the building is sublet to a tenant. The lease agreement for the year ended
November reflected the rental amount of R per month. The rental will
increase by on December
Other cash operating expenses amounted to R for October These
expenses are expected to increase by R each month.
Required:
Prepare the debtors collection schedule for November and December
Prepare the cash budget for November and December
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