Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 4 razali intends to run a laundry shop on

Question 4 Razali intends to run a laundry shop on 1 January 2020 with an...

90.2K

Verified Solution

Question

Accounting

image

Question 4 Razali intends to run a laundry shop on 1 January 2020 with an initial capital of RM32,480 consisting of: Cash in bank Cash in hand Machine RM 1 980 500 30,000 Razali plans to apply for a loan of RM12,000 in February 2020 at an interest rate of 8% per annum. The loan will be repaid monthly for 4 years, starting the following month. The estimated receipts and payments for his business are as follows: i) Revenue from laundry services for January 2020nwas RM8,900. This revenue is expected to increase 10% each month from the following month. i) The total purchase of detergents by month is as follows: RM January 1,500 February 1,800 March 2,160 60% of the purchase of detergent will be paid in cash and the balance will be paid in the following month. ) The monthly rent is RM1,200. iv) Utility budget: January February March RM 860 970 1,120 v) The business plans to buy five units of dryers and two units of washing machines at a total cost of RM40,000 in March. An advance payment of 60% will be made and the balance paid in full in the following month Required: On behalf of Razali, prepare a cash budget for the three months ending 31 March 2020. (Total: 20 Marks)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

5 4 3 2 1 5 4 3 2 1 f 2 2 3 4...

Calculus
Q

Probabilities in Golf Scoring The table gives Josh s probabilities of scoring in various ranges...

Basic Math
Q

Add the polynomials Assume all variable exponents represent whole numbers 9x7 16x4 8 5x7 20x4...

Basic Math
Q

How has NEXT PLC performed over the last three years? This should be a broad overview...

Finance
Q

if s1 and s2 are two simple functions then prove that the max and minimum of...

Advance Math
Q

What feature of DNA replication did Fred Sanger cleverly take advantage of when he invented...

Biology
Q

18 There are 1 5 mg of iron in 8 ounces of apple juice If...

Basic Math
Q

Disposal of Fixed Asset Perfect Auto Rentals sold one of its cars on January 1,...

Accounting
Q

Ramona and Hermione formed Wiley Corporation on January 2. Ramona contributed cash of $270,000 in...

Accounting
Q

Una empresa tena un inventario inicial de 10 unidades a un costo de $20 cada...

Accounting
Q

Denton Company manufactures and sells a single product. Cost data for the product are given...

Accounting
Q

the company purchased for $5,600,000 a mine estimated to contain 2 million tons of ore....

Accounting