Midus ind has the following data for the month ended on March 31. Prepare cash budget for the month of March 2021 with expected balance at the end. Beginning cash balance on March 1= $82,000 Cash repayment of bank loan= $18,000 Other budgeted cash expenses= S39,000 Cash receipts from sales= $315,000 Budgeted cash disbursements for salaries=$83,000 Budgeted cash disbursements for purchases=$146,000
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
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