Use the information below to answer question 1 to 22 . The financial controller of BOE Ltd. is gathering data to prepare a cash budget for the second quarter of 2018 . The following information is available. a) Salae for the firet civ manthe of the vear are ae follnus: a) 40% of all sales are cash sales. b) Of credit sales, 50% are collected in the month of sales and the remaining 50% collected the following month. c) The cost of raw materials equals 35% of each month's sales. 50% of raw materials are paid for in the month of purchase. The remaining 50% are paid in the following month. d) Wages total $5,500 per month and are paid for in the month incurred. e) Operating expenses per month totalled /16,800 of which 2,500 is depreciation and 300 is expiration of prepaid insurance premium (the annual premium of $3,600 paid in Jan 1). f) Dividend of /7,000 declared in March 31 will be paid on April 20. g) Old equipment will be sold in April 4 for \&1,300. h) On April 13, new equipment will be purchased for $8,400. i) The company will maintain a minimum cash balance of &10,000 from April. j) The cash balance on March 31 amounted to k1,350. 1. The amount to be received from credit customers can be ascertain using a) Debtor schedule b) Creditors schedule c) Expense schedule d) Asset schedule 2. The amount to be paid to credit suppliers can be ascertain using a) Debtor schedule b) Creditors schedule c) Expense schedule d) Asset schedule 3. What amount should be captured as money to be received from debtors in April? b) $32,000 c) $32,100 d) $34,200 4. What amount should be captured as money to be received from debtors in May? a) c18,000 b) 435,100 c) 436,000 d) 437,000 5. What amount should be captured as money to be received from debtors in June? a) /16,800 b) $34,800 c) $33,600 d) $35,000 6. What amount should be captured as money to be paid to creditors (raw material) in April? a) 49,975 b) 418,725 c) c19,950 d) $21,400 7. What amount should be captured as money to be paid to creditors (raw material) in May? a) 120,475 b) $21,000 c) $23,400 d) $10,500 8. What amount should be captured as money to be paid to creditors (raw material) in June? a) 49,800 b) 423,200 c) 619,600 d) +20,300 9. What amount should be captured as Operating Expenses for each of the months? a) 12,300 b) 14,000 c) 16,500 d) $16,800 10. What is the total amount of money to be received in April? a) $56,200 b) c59,100 c) 455,900 d) $57,200 11. What is the total amount of money to be received in May? a) $56,200 b) c59,100 c) c55,900 d) 457,200 12. What is the total amount of money to be received in June? a) $56,200 b) 459,100 c) 655,900 d) $57,200 3 Pcw/IDL/supp/719-19 13 What is the total amount of monev to be received at the end of the Ouarter? a) 4156,200 b) 4172,500 c) $175,900 d) 157,200 14. What is the total payment for April? a) $39,800 b) 439,975 c) 453,625 d) 453,700 15. What is the total payment for May? a) d39,800 b) 439,975 c) 53,625 d) $53,700 16. What is the total payment for June? a) $39,800 b) $39,975 c) 453,625 d) $53,700 17. What is the total payment for the quarter? a) $139,800 b) $139,975 c) 1133,400 d) $153,700 18. In April, there would be a surplus of a) 3,925 b) $2,575 c) $2,275 d) 41,350 19. In May, there would be a surplus of a) 43,925 b) 42,575 c) 42,275 d) e19,125 20. In June, there would be a surplus of a) $3,925 b) $17,400 c) 42,275 d) 41,350 21. The surplus for the Quarter is a) 439,100 b) 439,200 c) 439,300 d) 439,400 22. Which of the following statement is false? a) Beacon Ltd needs financing in April to maintain the minimum balance. b) Beacon Ltd do not need financing in May since the closing balance is more than the minimum balance. c) Beacon Ltd needs financing in June to maintain the minimum balance d) Beacon Ltd needs financing at the beginning of the quarter to maintain the minimum balance