Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The cash budget for Permai Process Meats, Inc. for the fourth quarter of 2020 is given below: Cash Budget for the Three Months Ending December

image text in transcribed

The cash budget for Permai Process Meats, Inc. for the fourth quarter of 2020 is given below: Cash Budget for the Three Months Ending December 31, 2020 Cash receipts October November December Total collections RM31,050.00 RM 4,050.00 RM49,950.00 Cash disbursements: Purchases 44,550.00 48,600.00 52,650.00 Wages and salaries 7,425.00 7,425.00 7,425.00 Other expenses 2,025.00 1,350.00 675.00 Taxes 17,415.00 Total disbursements RM54,000.00 RM57,375.00 RM78, 165.00 The expected sales for the period are as follows: Oct.: RM86,400.00 Nov.: RM91,800.00 Dec.: RM83,700.00 The total depreciation expense for the period will be RM8,775.00. An interest payment on outstanding debt of RM15,000.00 will be made in December. Using the information given, REQUIRED : Construct a pro forma income statement for the final quarter of 2020 for Permai

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

Personal Finance

Authors: E Thomas Garman, Raymond Forgue

11th Edition

1111531013, 9781111531010

More Books

Students also viewed these Finance questions

Question

1. What does this mean for me?

Answered: 1 week ago