Maxi x Main2005A.pdf Question 4 42 Use the information provided below to prepare the following for January and February

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Maxi X Main2005a Pdf Question 4 42 Use The Information Provided Below To Prepare The Following For January And February 1 (30.44 KiB) Viewed 14 times

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Maxi x Main2005A.pdf Question 4 42 Use the information provided below to prepare the following for January and February 2023 41 Debtors Collection Schedule INFORMATION 12 The following information was provided by alte The bank balance on 31 December 2022 is expected to be 40 000 juube Credit sales are expected to 2 i Page view A Read aloud 3 4 December 2022 A576 000 Credit sales usually make up 40% of the total sales Cas receive a 10% discount Credit sales are normally collected flow 30% in the month in January 2003 onth in which the transaction takes place and t *65% in the following month The rest is usually wroff bad deb Budgeted purchases of inventory are as follows December 2022 R1 000 000 Add text 0000 ASUS VivoBook February 2003 648000 February 2013 Draw (4 marks) (16 marks) I smake up the balance Cash customers R$20 000 customers are entitled to a 5% discount
6. 7. 8. 9. 10. Fifty percent (50%) of the purchases are for cash. The remainder is paid in the month after the purchase. The monthly salaries amount to R150 000. Salaries are expected to increase by 9% with effect from 01 February 2023 for those employees who presently make up 80% of the salary bill. The salaries of the remaining 20% are expected to increase by 6%. I Interest at 18% per annum on the loan balance is paid at the end of each month. The loan balance on 31 December 2022 was R400 000 and a capital repayment of R100 000 will be made on 01 February 2023. Part of the building is sublet to a tenant and rent is collected monthly. The lease agreement for the year ended 31 January 2023 reflected the rental as R180 000 per annum. The rental will increase by 10% with effect from 01 February 2023. Other operating expenses are budgeted at R40 000 per month. This amount includes R5 000 for depreciation. Operating expenses are paid for in the month in which they are incurred.