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Homework answers / question archive / The basis for this task is the profit budget of a business for 2021 as well as the opening (accounts) and closing (budget) balance for the same year

The basis for this task is the profit budget of a business for 2021 as well as the opening (accounts) and closing (budget) balance for the same year

Accounting

The basis for this task is the profit budget of a business for 2021 as well as the opening (accounts) and closing (budget) balance for the same year. Using data from these layouts, answer seven questions. For each question, you must show calculations that lead to the answer. Assume that all sales are subject to VAT and that VAT. on rent and other payable expenses is deductible. Disregard taxes in all tasks.

 

 

 

 

 

 

 

 

 

 

 

 

 


BUDGETED RESULT 2021

sales revenue

160 000

cost of goods

48 000

Income

78 400

Rent

9 600

other operating expenses payable

6 400

depreciation

6 200

financial costs

3 400

Result

8 000

 

 

 

 

 

 

BALANCE

PAYMENT (INN)

2021

PAYMENT (OUT)

2021

FIXED ASSETS

 

 

warehouse

 

 

accounts receivable

 

 

prepaid salary

 

 

prepaid house rent

 

 

Bank deposits

 

 

Total current assets

 

 

Total current assets

 

 

 

 

 

equity

 

 

Long term debt

 

 

overdrafts

 

 

accounts payable

 

 

due salary

 

 

other short-term debt

 

 

total short-term debt

 

 

total equity and debt

 

 

Question 1:

  1. How much will be budgeted for salaries and rent in 2021?

 

  1. Calculate the average customer credit time and supplier credit time for goods suppliers for 2021.

 

  1. How large is the company's working capital when you disregard cash and cash equivalents at the beginning and end of 2021 and how does the change in working capital (excluding means of payment and overdraft) affect the company's cash flow?

 

  1. How much is budgeted to be paid by the owners in 2021, when you assume that no dividend is paid or tax is paid?

 

  1. How big is the company's budgeted self-financing capacity in 2021?

 

  1. Make a statement that shows the net cash flow for 2021 ( before tax) . You can choose between a three-part direct or indirect method.

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