- Normal No Spa Heading Ang Wot Without Temption Wtb Tuesday Apr Act At The Beginning Of April 2020 Broderick Co Ind 1 (39.57 KiB) Viewed 28 times
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- Normal No Spa Heading Ang Wot Without Temption Wtb Tuesday Apr Act At The Beginning Of April 2020 Broderick Co Ind 3 (38.83 KiB) Viewed 28 times
- Normal No Spa Heading Ang Wot Without Temption Wtb Tuesday Apr Act At The Beginning Of April 2020 Broderick Co Ind 4 (38.83 KiB) Viewed 28 times
- Normal No Spa Heading Ang Wot Without Temption Wtb Tuesday Apr Act At The Beginning Of April 2020 Broderick Co Ind 5 (40.78 KiB) Viewed 28 times
- Normal No Spa Heading Ang Wot Without Temption Wtb Tuesday Apr Act At The Beginning Of April 2020 Broderick Co Ind 6 (40.78 KiB) Viewed 28 times
- Normal No Spa Heading Ang Wot Without Temption Wtb Tuesday Apr Act At The Beginning Of April 2020 Broderick Co Ind 7 (41.31 KiB) Viewed 28 times
- Normal No Spa Heading Ang Wot Without Temption Wtb Tuesday Apr Act At The Beginning Of April 2020 Broderick Co Ind 8 (38.85 KiB) Viewed 28 times
applier was that a down payment of $2,000,000 would be made in the last month of the first quarter an 2020 and the balance paid off in equal amounts durung the first two months of the second quarter in 2020 (4) The company is to receive insurance claim of $1,500,000 for damage done to its warehouse during heavy rain. The amount is to be disbursed as follows: 5600,000 in May 2020, 5400,000 in June 2020, and the balance in July 2020 (5) Investments held at Bank of Kingston will mature in June 2020 The amount to be collected is expected to be 51.000.000. The company planned to pay dividends to its shareholders amounting to $200,000 in May 2020 Italso planned to pay $450,000 in April 2020 for a plot of land to build a new warehouse (6) In May 2020 the company sold a motor vehicle for $300,000 to one of its staff members whole $200,000 written off as bad debt in $2019 was recovered in the first month of the second quarter 2020 Rental income amounting to $600,000 per annum is budgeted for 2020, ) Operating expenses mounted to $3,600,000 is budgeted for 2020 Included in this figure is monthly depreciation of $50,000 "1 am One Proctor Tookhout Shop in Hate hp 5 8 0 T U o P. R. F G I K V B N. M М.
Wanigraph Word without interuption, activate before Tuesday, April 2 Activate June 1. Miscellaneous expenses amounting to $60,000 monthly was not included in the operating penses budget >> All purchases are made for cash. The following table provides information on budgeted urchases. Budgeted Purchases 2020 $ February 500,000 March 350.000 April 290,000 May 250,000 270.000 July 380,000 August 450,000 September 440,000 Required: (a) A cash collection summary for sales showing cash and credit collections separately for the second quarter of 2020. (6 marks) 1 (b) A payment summary for purchases showing disbursement for purchases for the second quarter of 2020. (4 marks) (c) A cash budget for the second quarter of 2020. Clearly show amounts for cash sales, credit sales, cash purchases and totals 25 marks) eam Online Proctoning Tools sharing your screen Stop sharing BI a hp 3 ** & 5 0) 6 & 7 8 9 T Y U I
Syl Maagah ing Word without interuption activate before Tuesday, April 2 Activate At the beginning of April 2020. Broderick & Co. Lad had a closing cash balance of $500,00%at the bank. The company's financial year ends on December 31" each year Cash budgetings critical to the company's financial information needs. The following information was extracted from the company's records 1. Budgeted Sales 2020 $ February 700.000 March 800,000 April 900,000 May 650,000 June 750,000 I July 600,000 August 850,000 September 600,000 The company's records indicated that 60% of the company's sales were for cash, and 40% was received the month after sale (2) Taxation for the first quarter of 2020 amounting to $280,000 was due in the first month of the second quarter (3) In February 2020 the company bought a motor truck for $3,000,000. The agreement with the supplier was that a down payment of $2,000,000 would be made in the last month of the first quarter in 2020 and the balance paid off in equal amounts during the first two months of the second quarter in 2020. (4) The compan Online Proctoring Tool is charing your screen Stop sharing trehouse 0 a ар % 5 0) 6 7 00 9 9 R T Y U G H J K
Activate Paragraph ang Word without interruption activate belone Tuesday, April 2. (4) The company is to receive insurance claim of $1,500,000 for damage done to its warehouse during heavy rains. The amount is to be disbursed as follows: 5600,000 in May 2020, $400,000 in June 2020, and the balance in July 2020 (5) Investments held at Bank of Kingston will mature in June 2020. The amount to be collected is expected to be $1,000,000. The company planned to pay dividends to its sharcholders amounting to $200,000 in May 2020. It also planned to pay $450,000 in April 2020 for a plot of Land to build a new warehouse (6) In May 2020 the company sold a motor vehicle for $300,000 to one of its staff members while $200,000 written off as bad debt in $2019 was recovered in the first month of the second quarter in 2020. Rental income amounting to $600,000 per annum is budgeted for 2020, m) Operating expenses amounted to $3,600,000 it budgeted for 2020. Included in this figure is monthly depreciation of $50,000 6 of 10 wam Online Proctaning Tools sharing your screen Stop sharing E a hop * F 重 96 5 0) & 7 00 R T Y G Н K I
Abba Abbcd Aabba Abbock AaB 1 Normal No Sp Heading Heading? Take Macaquaph Wond without interuption, activate before Tuesday, April Active (8). Miscellaneous expenses amounting to $60,000 monthly was not included in the operating expenses budget (9) All purchases are made for cash. The following table provides information on budgeted parchases Budgeted Purchases 2020 $ February 500.000 March 350,000 April 290,000 May 250,000 June 270,000 July 380,000 August 450,000 September 440 000 Required: (a) A cash collection summary for sales showing cash and credit collections separately for the second quarter of 2020. (6 marks) (b) A payment summary for purchases showing disbursement for purchases for the second quarter of 2020. (4 marks) (c) A cash budget for the second quarter of 2020. Clearly show amounts for cash sales, credit sales, cash purchases and total (25 marks) Cash Collection Summary for Broderick & Co Ltd April-June 2020 man - One Lyag Toets storing your screen Step sharing hp D 2 1 * & of 5 6 7 00 9 O R T Y U O G H H K