Golden Diamond Jeweler Inc is currently forecasting a revenue of Php2,000,000, Php3,200,000 and Php1,200,000 for the months of October, November, and December respectively. Sales of the month of September is Php1,300,000. The business currently have a cash balance of 500,000 at the end of September and the company requires Php800,000 as its minimum cash requirement. Given the additional information below, prepare a cash budget for the months of October, November, and December 50% of the company’s revenue is usually paid in cash and 50% is paid through credit card where credit card companies usually pay the following month. Additional income of Php200,000 per month is receive from cleaning services of jewelries. Companies purchases on credit per month are Php300,000 for September; Php200,000 for October; Php500,000 for November and Php700,000 on December which are all paid the following month of purchase. Salaries and wages would usually average to Php80,000 per month Costs of sales is usually 30% of monthly sales Operating expense is usually 10% of monthly sales Loans payment per month is Php100,000 It is expected that repairs and maintenance expense of Php10,000 will be incurred every month The company expects to purchase new equipment worth Php100,000 on November Tax of Php200,000 will be paid on December The company is also to pay a total of Php100,000 for employees end year bonus on December. A total of Php300,000 is to be paid as dividends to preferred stockholders on December.
https://helpmewriteessay.xyz/wp-content/uploads/2021/08/whatsapp-logo-300x115.jpeg 0 0 First class essays https://helpmewriteessay.xyz/wp-content/uploads/2021/08/whatsapp-logo-300x115.jpeg First class essays2022-04-21 02:36:402022-04-21 02:36:40Golden Diamond Jeweler Inc is currently forecasting a revenue of Php2,000,000, Php3,200,000 and Php1,200,000 for the months of October, November, and December respectively. Sales of