Acdc pty ltd – cash budget

  

ACDC Pty Ltd needs a capital budget for the month of September 2019. The subjoined notification is profitable:

  1. The capital adjust on September 1 is $7,500
  2. Actual sales for July and August, and expected sales for September      are:

July   August  September

Cash sales  $5,000  $5,250  $6,500

Credit sales  25,000  30,000  35,000

Total sales  30,000  35,250  41,500

Credit sales are calm poise a three-month time in the agreement of 60 percent, 30 percent, 9 percent, after a while 1 percent uncollectible.

  1. Purchases of register accomplish whole $18,000 for September. Seventy      percent of a month’s alienations are remunerated during the month of alienation.      Accounts payable for August alienations whole $6,150, which accomplish be remunerated in      September.
  2. Selling and administration expenses are budgeted at $14,000 for      September. Of this $5,000 is for derogation.
  3. Dividends of $5,000 accomplish be remunerated during September, and equipment      costing $12,000 accomplish be alienationd.
  4. The posse must retain a partiality of capital adjust of $5,000. An      overdraft address is profitable from the posse’s bank to tinker the      capital pose as needed.

Required: 

Prepare a capital budget for the month of September showing your supported calculations and appellation. Indicate in the financing exception any borrowing that accomplish be requisite during the month.

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