The Three Brothers Enterprise has the following balance sheet as at 30 June, 2019. Assets Cash Rs. 280,000 Accounts Receivable 600,000 Less allowance for uncollectible 30,000 570,000 Inventory 525,000 Property, Plant & Equipment 1,500,000 Less accumulated depreciation 375,000 1,125,000 Total Rs. 2,500,000 Liabilities and equity Accounts payable 1,650,000 Common Stock 1,200,000 Retained earnings (deficit) (350,000) Total Rs. 2,500,000 Following information is available from the record:- a. Sales for July and August are budgeted at Rs. 3,300,000 and Rs. 3,600,000 respectively. b. Collection from sale are expected at 70% in the month of sale and 28% in the following month after sale. The balance 2% is uncollectible. c. The company has a gross profit of 30% of sales as practiced in the past. d. The purchases are 70% of the following months budgeted sales. e. The payment of purchases are made in full in the next month of purchase. f. The cash operating expenses are Rs. 465,000 each month which are paid in the same month. g. Monthly depreciation is amounting to Rs. 150,000 which is exclusive of operating expenses. Required a) Prepare a budgeted cash collection schedule for July, 2019. b) Prepare budgeted cash disbursement schedule for July 2019. c) Prepare master cash budget for July 2019. d) Prepare budgeted income statement for July, 2019. e) Prepare budgeted balance sheet at the end of July ,2019. f) Explain any special problems the company may face as visible from balance sheet. Recommend some suitable solution for the company to improve its financial condition

ITU, U The Three Brothers Enterprise has the following balance sheet as at 30 June, 2019. Assets Cash Rs. 280.000 Accounts Receivable 600.000 Less allowance for uncollectible 30,000 570,000 Inventory 525,000 Property, Plant & Equipment 1.500.000 Less accumulated depreciation 375.000 1.125.000 Total Ps 2.500.000 Liabilities and equity Accounts payable 1,650.000 Common Stock 1.200.000 Retained earnings (deficit) (350.000) Total Rs. 2,500,000 Following information is available from the record:- 2. Sales for July and August are budgeted at Rs. 3,300,000 and Rs 3,000,000 respectively b. Collection from sale are expected at 70% in the month of sale and 2896 in the following month after sale. The balance 2% is uncollectible. c. The company has a gross profit of 30% of sales as practiced in the past d. The purchases are 70% of the following month's budgeted sales e. The payment of purchases are made in full in the next month of purchase. t. The cash operating expenses are Rs 485,000 each month which are paid in the same month g. Monthly depreciation is amounting to Rs 150,000 which is exclusive of operating expenses Required a) Prepare a budgeted cash collection schedule for July, 2019. b) Prepare budgeted cash disbursement schedule for July 2019. c) Prepare master cash budget for July 2019. d) Prepare budgeted income statement for July, 2019. e) Prepare budgeted balance sheet at the end of July 2010 1) Explain any special problems the company may face as visible from balance sheet Recommend some suitable solution for the company to improve its financial condition. (Marks 061