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What are the formulas needed to correctly link the Revenue budget sheet to the data? REVENUE AND COLLECTION BUDGET September October November December Quarter Revenue
What are the formulas needed to correctly link the Revenue budget sheet to the data?
REVENUE AND COLLECTION BUDGET September October November December Quarter Revenue (Budgeted Sales in $s) Cash rentals Credit rentals T T T T T T I Cash Collection Month of rental Month following rental Total Cash from Rentals NON-CURRENT ASSETS Depreciation Quarter Motor Vehicles Office Equipment Total ASSIGNMENT 1,2001 DATA ENTRY Months in a year Months in a quarter (budgetperiod) 30 Revenue Days for hire September Ocbber November December 31 30 31 85% Hireage level Cash collection - Month ofsale Month following sale Hire price per day Average daily revenue if all cars hired out 60% 40% 30 $800 OTHER PAYMENTS Depotrent Advertising General (Telephone, Supplies, Utilities, ISP etc)) Maintenance and servicing Wages Monthly $4,000 $500 $400 $3,000 $5,000 Annual $15,000 Insurance premium 12 months (paid 1 June 2020) BALANCE SHEET ITEMS Cash at Bank as at 1 October 2020 Accounts Payable Advertising 1 October 2020 $11.750 $525T NON-CURRENT ASSETS Cost Expected Life Years 5 61 Residual Value $ $100,000 $2,000 Motor Vehicles Office Furniture and Fittings $300,000 $20,000 Straight line method is used for all non-currentassets
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