From the following information, prepare a cash Budget for the quarter that is ending on 30 June 2000:
|
Month |
Sales |
Purchases |
Wages |
Misc. Exp. |
|
February |
1,20,000 |
84,000 |
10,000 |
7,000 |
|
March |
1,30,000 |
1,00,000 |
12,000 |
8,000 |
|
April |
80,000 |
1,04,000 |
8,000 |
6,000 |
|
May |
1,16,000 |
1,06,000 |
10,000 |
12,000 |
|
June |
88,000 |
80,000 |
8,000 |
6,000 |
Additional Information:
- Cash on hand on 1 April 2000 is Rs. 5,000.
- Sales—20% realized in the month of sale, discount allowed is 2% and balance realized is after 2 months.
- Purchases are paid 1 month after.
- Wages—25% in arrear paid in the following month.
- Other Expenses are paid at a lag of 1 month.
- Income Tax of Rs. 25,000 due on or before 30 June 2000.