QUESTION 4 Read the below information and answer the following questions INFORMATION Extract of the Statement of Compreh
Posted: Wed Jul 06, 2022 6:14 am
QUESTION 4
Read the below information and answerthe following questions
INFORMATION
Extract of the Statement of Comprehensive Income for the monthended 31 May 2022
R
Sales
100 000
Cost of sales
50 000
Rent income
2 500
Advertising
5 000
Salaries and wages
15 000
Rates and taxes
900
Other operating expenses
20 000
Additional information
* 30% in the monthof the sale, and these customers are entitled to a discount of 5%Íž* 65% in the month after the sale.
The balance is usually written off asbad debts.
80 cents (R0.80) per R100 on the valueof the premises. The premises are valued at R1 500 000.
Use the information given aboveto prepare the following for Lyon Enterprises for June and July2022:
4.1 Debtors Collection Schedule
(4 marks)
4.2 Cash Budget
(16 marks)
Read the below information and answerthe following questions
INFORMATION
Extract of the Statement of Comprehensive Income for the monthended 31 May 2022
R
Sales
100 000
Cost of sales
50 000
Rent income
2 500
Advertising
5 000
Salaries and wages
15 000
Rates and taxes
900
Other operating expenses
20 000
Additional information
* 30% in the monthof the sale, and these customers are entitled to a discount of 5%Íž* 65% in the month after the sale.
The balance is usually written off asbad debts.
80 cents (R0.80) per R100 on the valueof the premises. The premises are valued at R1 500 000.
Use the information given aboveto prepare the following for Lyon Enterprises for June and July2022:
4.1 Debtors Collection Schedule
(4 marks)
4.2 Cash Budget
(16 marks)