Q1: VTV Company has a cash balance of Rs.54,000 at the beginning of September and the following information is available: Creditors give one month credit Salaries are paid in the current month Fixed costs are paid in one month arrears and include a charge for depreciation Rs.10,000 per month Credit sales are settled as follows: 40% in the month of sales, 45% in the next month and 12% in the following month. The balance represents bad debts. Month Cash Sales Credit Sales Purchases Salaries Fixed Overheads July 148,000 110,000 18,000 60,000 August 164,000 122,400 18,000 60,000 September 40,000
Q1: VTV Company has a cash balance of Rs.54,000 at the beginning of September and the following information is available:
- Creditors give one month credit
- Salaries are paid in the current month
- Fixed costs are paid in one month arrears and include a charge for
depreciation Rs.10,000 per month - Credit sales are settled as follows: 40% in the month of sales, 45% in the next month and 12% in the following month. The balance represents
bad debts.
Month |
Cash Sales |
Credit Sales |
Purchases |
Salaries |
Fixed |
July |
|
148,000 |
110,000 |
18,000 |
60,000 |
August |
|
164,000 |
122,400 |
18,000 |
60,000 |
September |
40,000 |
160,000 |
120,000 |
19,000 |
60,000 |
October |
44,000 |
180,000 |
138,000 |
19,000 |
64,000 |
November |
50,000 |
200,000 |
150,000 |
20,000 |
64,000 |
Note: No need to enter currency symbol and comma just type numbers (for example: 10000)
A: Calculate Current month credit sales for the month of september.
B: Calculate Current month credit sales for the month of october.
C: Calculate Current month credit sales for the month of november.
D: Calculate 1st month credit sales for the month of september.
E: Calculate 1st month credit sales for the month of october.
F: Calculate 1st month credit sales for the month of november.
G: Calculate 2nd month credit sales for the month of september.
H: Calculate 2nd month credit sales for the month of october.
I: Calculate 2nd month credit sales for the month of november.
J: Calculate Total receipt for the month of september.
K: Calculate Total Receipt for the month of October.
L: Calculate Total Receipt for the month of November.
M: Calculate Total Payment for the month of september.
N: Calculate Total Payment for the month of October.
O: Calculate Total Payment for the month of November.
P: Calculate Closing Cash Balance for the month of september.
Q: Calculate Closing Cash Balance for the month of October.
R: Calculate Closing Cash Balance sales for the month of November.
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